On Tuesday, Eaton Corp plc (NYSE:ETN)’s shares declined -0.63% to $70.44.
MGX Minerals Inc. declared the Company has reached a Partnering Agreement (the “Agreement”) with Eaton Industries Corporation (ETN) and Highbury Energy Inc. to develop MGX’s flagship Driftwood Creek magnesium property (“Driftwood Creek” or the “Project”).
Eaton and Highbury will work with MGX to develop 7-10 additional industrial mineral projects using a similar business model.
Eaton will right away commence a Scoping Study at Driftwood Creek to establish initial engineering parameters and logistics with results in about 30 days. The envisioned processing plant will comprise industrial kilns and ancillary processing equipment for calcining magnesite ore. The kiln(s) will be powered in part by Highbury’s proprietary biomass gasification technology, which would convert organic matter into bio-gas to provide a clean, low-cost energy source for continued operations at Driftwood Creek.
Mining and processing operations at Driftwood Creek forecast production capacity of 100,000 tonnes per annum combined caustic calcined (CCM) and dead burned magnesia (DBM) products.
Eaton Corporation plc operates as a power administration company worldwide. Its Electrical Products segment offers electrical components, industrial components, residential products, wiring devices, and structural support systems, in addition to single phase power quality, emergency lighting, fire detection, circuit protection, and lighting products. The company’s Electrical Systems and Services segment provides power distribution and assemblies, three phase power quality products, hazardous duty electrical equipment, intrinsically safe explosion-proof instrumentation, utility power distribution products, power reliability equipment, and services.
Blackstone Group LP (NYSE:BX)’s shares dropped -0.62% to $41.98.
Blackstone Group LP (BX) declared that Jonathan Pollack has joined the firm as a Senior Managing Director in its Real Estate Group. He will be the Chief Investment Officer for Blackstone Real Estate Debt Strategies (BREDS), reporting to Mike Nash, who continues as the Global Head of BREDS. Mr. Pollack was formerly a Managing Director and Global Head of Commercial Real Estate, in addition to Head of Risk for Structured Finance, at Deutsche Bank.
The Blackstone Group L.P. is a publicly owned investment manager. The firm also provides financial advisory services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations. The firm manages separate client focused portfolios.
At the end of Tuesday’s trade, Cardinal Health Inc (NYSE:CAH)‘s shares surged 0.96% to $89.12.
Cardinal Health Inc (CAH) declared plans to acquire The Harvard Drug Group (THDG), a distributor of generic pharmaceuticals, over-the-counter medications and related products to retail, institutional and alternate care customers. THDG is presently owned by Court Square Capital Partners. Cardinal Health will pay $1.115 billion using existing cash and new debt. The transaction is predictable to close in the starting of fiscal year 2016 subject to regulatory approvals and other customary closing conditions.
Assuming this timing, Cardinal Health anticipates accretion in non-GAAP diluted earnings per share (EPS) from ongoing operations of greater than $0.15 per share in fiscal 2016, net of the $0.03 to $0.04 per share of interest expense for the related debt financing. Cardinal Health anticipates accretion in non-GAAP diluted EPS of more than $0.20 in fiscal 2017 and for accretion to be increasingly greater thereafter.
Cardinal Health, Inc., a healthcare services company, provides pharmaceutical and medical products and services in the United States and internationally. The company operates in two segments, Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, over-the-counter healthcare, specialty pharmaceutical, and consumer products to retailers, including chain and independent drug stores and pharmacy departments of supermarkets and mass merchandisers; hospitals; and other healthcare providers.
Novavax, Inc. (NASDAQ:NVAX), ended its Tuesday’s trading session with 1.24% gain, and closed at $8.98.
Novavax, Inc. (NVAX) declared that Chris Dunne has been named Vice President, Finance. Mr. Dunne joined Novavax as the Executive Director, Finance in January 2010, with responsibility for financial reporting. Prior to joining Novavax, he was Senior Director, Finance at Ore Pharmaceuticals (previously known as Gene Logic), a publicly traded biotechnology company, from 1996 until joining Novavax in 2010.
Mr. Dunne’s prior experience includes roles as a Senior Project Accountant for Akridge, where he was responsible for the accounting activities of a portfolio of commercial real estate partnerships and corporations located in the Washington, D.C., metropolitan area and with Deloitte & Touche LLP, where he managed audits for a number of public and private companies, including preparation for initial public offerings and SEC reporting. Mr. Dunne received a B.S. degree in Business Management, Accounting from the University of Maryland and is a Certified Public Accountant.
Novavax, Inc., a clinical-stage vaccine company, focuses on discovering, developing, and commercializing recombinant nanoparticle vaccines and adjuvants. The company produces its vaccines using its proprietary recombinant nanoparticle vaccine technology. Its product pipeline comprises respiratory syncytial virus (RSV) vaccine candidates for elderly and maternal immunization that are in Phase II clinical trials, in addition to pediatric respiratory syncytial virus candidate, which is in Phase I clinical trial; seasonal quadrivalent influenza and pandemic H7N9 vaccines, which are in Phase I clinical trials; vaccine candidate against Ebola Virus that is Phase I clinical trial, in addition to combination respiratory vaccine candidate, which is pre-clinical trial; and seasonal influenza vaccine candidate that is Phase III clinical trial, in addition to rabies G protein vaccine candidate, which is in Phase 1/2 clinical trial.
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