On Tuesday, Liberty Global plc - Class C Ordinary Shares (NASDAQ:LBTYK)’s shares declined -1.37% to $46.93.
Liberty Global plc - Class C Ordinary Shares (LBTYK) declared that, following regulatory approval, it has consummated its formerly declared acquisition of 100% of the parent of Puerto Rico Cable Acquisition Company Inc., dba Choice Cable TV (“Choice”), the second largest cable and broadband services provider in Puerto Rico. The combination of Choice’s operations with those of Liberty Cablevision of Puerto Rico LLC (“LCPR”), which is 60% owned by Liberty Global and 40% owned by funds managed by Searchlight Capital Partners, L.P., creates the largest cable operator on the island with over one million homes passed1, serving about 750,000 revenue generating units (“RGUs)1 and generating over $390 million of annual revenue.
As formerly revealed, the purchase price of about $272.5 million before transaction costs and other adjustments represents a multiple of about 6 times our estimate of Choice’s 2015 full-year operating cash flow, as customarily defined by Liberty Global and adjusted for the projected annual impact of synergies following full integration. The transaction was largely funded through incremental debt borrowings of about $267.5 million at the combined Puerto Rican business, and equity contributions from Liberty Global and Searchlight of $10.2 million and $6.8 million, respectively.
Liberty Global plc, together with its auxiliaries, provides video, broadband Internet, fixed-line telephony, and mobile services in Europe, Chile, Puerto Rico, and internationally. The company offers various residential services, counting video services comprising basic and premium programming, which can be viewed on the television and Internet connected devices; electronic programming guide, high definition (HD) channels, digital video recorder (DVR), and HD DVR services; video-on-demand, set-top boxes, pay-per-view programming, and programming in three-dimensional format services, in addition to television applications that allow access to programming on laptops, smartphones, and tablets; and entertainment, sports, movies, documentaries, lifestyles, news, adult, children, and ethnic and foreign channels.
Wendys Co (NASDAQ:WEN)’s shares dropped -0.28% to $10.60.
Wendy’s® High School Heisman® Award, which honors outstanding scholar-athletes for their commitment to academic achievement, community service and athletic prowess, continues to give recognition to high school seniors. New this year, State Winners will be awarded with a $1,000 donation to their high school. Students have until October 2, 2015 to complete the new online application for the Award. The first 1,000 students to submit an application online at www.WendysHighSchoolHeisman.com will receive a Wendy’s Gift Card valued at $10.
Wendy’s High School Heisman is more than just an award, but an opportunity to join an ever-growing and distinguished group of past winners who set new standards for excellence in their communities, such as:
- Zoe Alaniz– A national winner in 2012, Zoe went on to Texas A&M University, where she was recognized by her peers with the Class Stars Award for being one of the most outstanding students in her freshman class. Alaniz is pursuing a Bachelors of Science in Mathematics with honors and remains committed to community service and competing in the Southeastern Conference for her dive team. She will be taking her second medical service trip to Quetzaltenango, Guatemala, this summer, as the new leader of the Global Leaders on Valuable Efficacy organization.
- Malia Cali –After winning the award in 2009, Cali went on to be a leader on the University of North Carolina cross country and track team, in addition to a leader for Carolina Dreams, an organization that brings children from hospitals to sporting events. She also assisted organize domestic and international service trips through Student-Athletes Leading Social Change (SALSC). Cali is following up her Biology degree as a medical student at Louisiana State University and remains dedicated to community service and spreading medical awareness. She serves as the public relations chair and counselor for Camp Tiger, a camp run by medical students for children with special needs, the president of the Physical Medicine and Rehabilitation interest group, and as secretary of Proteges, a group that provides mentorship opportunities for up and coming doctors at LSUHSC.
The Wendy’s Company, through its auxiliaries, owns and franchises Wendy’s restaurant system. The company is involved in operating, developing, and franchising a system of quick-service restaurants. As of May 26, 2015, its restaurant system comprised of about 6,500 franchised and company-operated restaurants worldwide. The company was formerly known as Wendy’s/Arby’s Group, Inc. and changed its name to The Wendy’s Company in July 2011.
At the end of Tuesday’s trade, Danaher Corporation (NYSE:DHR)‘s shares surged 1.44% to $87.11.
Danaher Corporation (DHR) declared that its wholly-owned partner, DH Europe Finance S.A. (“Danaher International”), has priced an offering of:
€500 million principal amount of floating rate senior notes due 2017 at an offering price of 100.000% of the principal amount;
€600 million principal amount of 1.000% senior notes due 2019 at an offering price of 99.696% of the principal amount;
€800 million principal amount of 1.700% senior notes due 2022 at an offering price of 99.651% of the principal amount; and
€800 million principal amount of 2.500% senior notes due 2025 at an offering price of 99.878% of the principal amount.
Danaher anticipates to receive net proceeds, after estimated expenses and the underwriters’ discounts and commissions, of about €2.68 billion. Danaher anticipates using the net proceeds from the offering to pay a portion of the purchase price of the formerly declared acquisition of Pall Corporation and for general corporate purposes. The senior notes will be fully and unconditionally guaranteed on a senior unsecured basis by Danaher.
Deutsche Bank AG, London Branch, Merrill Lynch International, BNP Paribas, HSBC Securities (USA) Inc. and Morgan Stanley & Co. International plc are acting as joint book-running managers for the offering.
The offering is being made following an effective shelf registration statement on file with the U.S. Securities and Exchange Commission.
The offering of senior notes may be made only by means of a prospectus and prospectus supplement. A copy of the prospectus and prospectus supplement regarding the securities can be obtained from Deutsche Bank AG, London Branch at Winchester House, 1 Great Winchester Street, London EC2N 2DB, United Kingdom, Attention: GRS, Facsimile: +44 207 545 4455; and from Merrill Lynch International at 2 King Edward Street, London EC1A 1HQ, United Kingdom, Attention: Syndicate Desk, Facsimile +44 207 995 0048.
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company’s Test & Measurement segment provides test, measurement, and monitoring products that are used in electronic design, manufacturing, and technology development; hardware and software solutions to deploy, manage, and secure communication network technologies and services; and tools, toolboxes, and automotive maintenance equipment. Its Environmental segment offers instrumentation and disinfection systems to analyze and manage the quality of water; and solutions and services focused on fuel dispensing, remote fuel administration, point-of-sale systems, payment systems, environmental compliance, vehicle tracking, and fleet administration.
Calpine Corporation (NYSE:CPN), ended its Tuesday’s trading session with 0.40% gain, and closed at $17.69.
Calpine Corporation (CPN) declared that it has closed on a $1.6 billion first lien term loan (“Term Loan”). The Term Loan, which amortizes at a rate of 1% per year, bears interest at LIBOR plus 2.75% per annum (subject to a LIBOR floor of 0.75%) and matures in 2022.
Calpine utilized the proceeds of the Term Loan to retire about $1.6 billion remaining on its 2018 first lien term loan which bore interest at a rate of LIBOR plus 3% per annum (subject to a LIBOR floor of 1%).
Calpine Corporation, a wholesale power generation company, owns and operates natural gas-fired and geothermal power plants in North America. It operates natural gas-fired combustion turbines and renewable geothermal conventional steam turbines.
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