On Monday, Shares of Williams Partners L.P. (NYSE:WPZ), lost -7.60% to $49.10.
Williams (WMB) declared that its Board of Directors has authorized a process to explore a range of planned alternatives following receipt of an unsolicited proposal to acquire Williams in an all-equity transaction at a stated per share price of $64.00. The unsolicited proposal was contingent on the termination of Williams’ pending acquisition of Williams Partners L.P. (WPZ). With the assistance of its outside financial and legal advisors, the Williams Board carefully considered the unsolicited proposal and determined that it significantly undervalues Williams and would not deliver value commensurate with what Williams anticipates to achieve on a standalone basis and through other growth initiatives, counting the pending acquisition of WPZ.
As formerly declared on May 13, 2015, Williams and WPZ have signed a definitive agreement under which Williams will acquire all of the public outstanding common units of WPZ in an all stock-for-unit transaction at a 1.115 ratio of Williams common shares per unit of WPZ. During its planned review process, Williams will continue to work towards the completion of the WPZ transaction.
Williams has retained Barclays and Lazard to assist in its review of planned alternatives, which could comprise, among other things, a merger, a sale of Williams or ongoing to pursue the Company’s existing operating and growth plan.
Williams Partners L.P., an energy infrastructure company, focuses on connecting North America’s hydrocarbon resource plays to growing markets for natural gas and natural gas liquids (NGL). It operates in Northeast G&P, Atlantic-Gulf, West, and NGL & Petchem Services segments.
Shares of United Continental Holdings, Inc. (NYSE:UAL), inclined 2.91% to $54.80, during its last trading session.
United Airlines and the Chicago Urban League, together with the China-United States Exchange Foundation, is leading Chicago high school students on an educational, cultural and social trip through China.
More than 20 Chicago students are spending two weeks of their summer vacation, June 20 through July 4, taking in the sights, sounds and cultures of Beijing, Shanghai and other Chinese cities. Students from more than 18 Chicago public and charter schools accomplished a rigorous application and nomination process in order to be selected for the trip.
Before the students departed on June 20, they took part in two different travel lessons with United counting an orientation with flight attendants at the airline’s headquarters in downtown Chicago and a tour and simulation at O’Hare airport. Students also took part in several academic workshops focused on various aspects of Chinese culture counting language, philosophy, history, and economic and social development.
United Continental Holdings, Inc., together with its auxiliaries, provides air transportation services in North America, the Asia-Pacific, Europe, the Middle East, Africa, and Latin America. It transports people and cargo through its mainline operations, which use jet aircraft with at least 118 seats, and its regional operations.
Finally, CarMax Inc. (NYSE:KMX), ended its last trade with -1.79% loss, and closed at $68.03.
The Nissan Altima was the No. 1 choice for used car shoppers at CarMax for the second year in a row, according to the company’s 2015 Used Car Shopping Report published recently. Data from the nation’s largest used car retailer also indicates domestic models are gaining favor: Five of the 10 most purchased vehicles from CarMax stores were made by American manufacturers, across all age groups.
Results are based on more than 550,000 vehicle sales at CarMax’s more than 140 stores nationwide between March 2014 and February 2015.
New to this year’s Used Car Shopping Report is insight into desired add-on and upgrade features. The most popular add-on purchased by CarMax buyers was leather interior, based on CarMax sales data. According to a recent survey of more than 1,000 U.S. adults conducted by Ipsos Public Affairs on behalf of CarMax, there is also interest in convenience and entertainment or luxury upgrades, such as navigation systems and satellite radio.
CarMax, Inc., through its auxiliaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, counting domestic and imported vehicles.
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