On Monday, Shares of Brookdale Senior Living, Inc. (NYSE:BKD), lost -2.00% to $36.31.
Brookdale Senior Living, declared that Mark Ohlendorf, the Company’s President and Chief Financial Officer, will transition from his current dual roles to focus on an improved role as President. The Company also declared that Gregory Richard, the Company’s Chief Operating Officer, will step down effective September 30, 2015. As President, Mr. Ohlendorf will right away assume an active role in the Company’s operations leadership and will direct Brookdale’s innovation initiatives.
Andy Smith, Brookdale’s CEO, said, “As we approach the one-year anniversary of the Brookdale and Emeritus merger and near the conclusion of integrating our businesses onto a common systems platform, we had a natural opportunity to examine our executive leadership team and organizational structure to ensure we have the right people in the right roles going forward. Through his more than 30 years of executive leadership in the senior housing and health care industry, Mark has developed a unique combination of operational and financial expertise, and we believe these changes will enable us to fully leverage Mark’s expertise as we continue to improve our operational effectiveness and advance our growth.”
Brookdale Senior Living Inc. owns and operates senior living communities in the United States. It operates through five segments: Retirement Centers, Assisted Living, Ongoing Care Retirement Communities (CCRCs)Rental, Brookdale Ancillary Services, and Administration Services.
Shares of Endo International, (NASDAQ:ENDP), inclined 0.15% to $84.16 , during its last trading session.
Endo International plc, declared that Endo Limited, Endo Finance LLC and Endo Finco Inc., its wholly-owned auxiliaries, intend to offer senior notes, subject to market and customary conditions. The notes will be unsecured, unsubordinated obligations of Endo Limited, Endo Finance LLC and Endo Finco Inc. and will be guaranteed by certain of Endo Limited’s direct and indirect auxiliaries.
Endo intends to use the net proceeds from the projected offering, together with the proceeds of new senior secured credit facilities and cash on hand, to fund the purchase price of the formerly declared acquisition of Par Pharmaceutical Holdings, Inc. (“Par”), in addition to for repayments of indebtedness of Par and certain transaction expenses. Endo intends to use any remaining proceeds for general corporate purposes, counting acquisitions and debt repayments.
Endo International plc, a specialty healthcare company, focuses on branded and generic pharmaceuticals and devices worldwide. It operates through four segments: U.S. Branded Pharmaceuticals, U.S. Generic Pharmaceuticals, Devices, and International Pharmaceuticals.
At the end of Monday’s trade, Shares of Valley National Bancorp (NYSE:VLY), gained 1.39% to $10.22.
Valley National Bancorp, declared that it priced $100 million of its Subordinated Debentures due June 30, 2025 and 4,600,000 shares of its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A. The Notes have a fixed interest rate of 4.55% per annum, payable semi-annually, a 10 year term and were issued at a discount of 0.042% to par. The Preferred Stock will be issued at a public offering price of $25.00 per share. Dividends on the Preferred Stock will accrue and be payable quarterly in arrears, at a fixed rate per annum equal to 6.25% from the original issue date to, but not taking into account, June 30, 2025, and thereafter at a floating rate per annum equal to three-month LIBOR plus a spread of 3.85%.
Valley intends to use the net proceeds from these offerings for general corporate purposes, potential planned acquisitions and investments in Valley National Bank as regulatory capital. The Company intends to apply to list the shares of Preferred Stock on the New York Stock Exchange. If approved for listing, trading of the Preferred Stock on the New York Stock Exchange is predictable to commence within 30 days after the shares are first issued. The offerings are predictable to close on June 19, 2015, subject to customary closing conditions.
Valley National Bancorp operates as the holding company for the Valley National Bank that provides commercial, retail, insurance, and wealth administration financial services products.
Finally, Akamai Technologies, Inc. (NASDAQ:AKAM), ended its last trade with 1.00% gain, and close at $73.01.
Akamai Technologies, declared that it has been named to the 2015 Best Places to Work in IT list by IDG’s Computerworld. Akamai was ranked 9th among midsize organizations. The award recognizes the company as one of 100 top organizations that challenge their IT staffs while providing superior benefits and compensation.
“We are honored to be named one of Computerworld’s 100 Best Places to Work in IT,” said Kumud Kalia, Chief Information Officer of Akamai. “Our employees take pride in empowering our customers, partners and colleagues with scalable business solutions to enable innovation and productivity. We understand that a dynamic and open culture attracts and retains top IT talent. This recognition validates the differentiated environment we’ve worked hard to foster here at Akamai, making it a destination for technology professionals to pursue fulfilling and successful careers.”
Akamai Technologies, Inc. provides cloud services for delivering, optimizing, and securing online content and business applications in the United States and internationally.
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