On Monday, General Growth Properties Inc (NYSE:GGP)’s shares inclined 0.27% to $26.28.
General Growth Properties, Inc. (GGP) declared Fabletics, the online activewear and accessories line co-founded by award-winning actress Kate Hudson, will open its first brick-and-mortar stores at five GGP locations this fall to build off the success of its e-commerce platform. Launched in 2013, Fabletics offers premium fashion-forward activewear for women, and recently launched a versatile and high-performance athletic wear line for men, FL2.
General Growth Properties, Inc is an equity real estate investment trust. The firm invests in the real estate markets of the United States. It engages in owning, managing, leasing, and redeveloping high-quality regional malls. General Growth Properties, Inc is based in Chicago, Illinois.
Platform Specialty Products Corp (NYSE:PAH))’s shares gained 1.55% to $25.53.
Platform Specialty Products Corporation (PAH) and Alent plc (ALNT.L) (“Alent”) declared recently the terms of a recommended offer by Platform to acquire all of the issued and outstanding shares of Alent in a cash and stock transaction for about $2.1 billion2. Counting net debt, the total transaction value is about $2.3 billion.
Under the terms of the transaction, for each Alent share, Alent shareholders will receive 503 pence in cash. The transaction values Alent’s entire issued and to be issued share capital at $2,096 million ([Pounds]1,351 million). This represents a premium of about 49% over Alent’s closing price of 337.7 pence per share as of July 10, 2015, about 37% over the three month volume weighted average share price of 368.2 pence, and about 24% over the 52-week high share price of 406.2 pence on March 12, 2015. The transaction will also comprise a partial share alternative under which eligible Alent shareholders can elect to receive Platform common stock in lieu of part or all of the cash consideration to which they would otherwise be entitled under the transaction (subject to pro rating in accordance with the terms of such partial share alternative).
Platform Specialty Products Corporation produces and sells specialty chemical products in the Americas, Asia, and Europe. The company’s Performance Materials segment manufactures and markets plating products that are used to plate holes; final finishes, which are used on printed circuit boards; circuit formation products to promote adhesion and form circuit patterns; oxides that are used in the fabrication of multilayer circuit boards; and pre-treatment and cleaning solutions.
At the end of Monday’s trade, Cloud Peak Energy Inc. (NYSE:CLD)‘s shares surged 8.86% to $4.30.
Cloud Peak Energy Inc. (CLD) declared that, effective July 7, 2015, Robert Skaggs has been elected to the Cloud Peak Energy Board of Directors and will also serve as a member of the Audit Committee, the Compensation Committee and the Nominating and Corporate Governance Committee of the Board.
Skaggs is chairman of the board and chief executive officer of Columbia Pipeline Group, Inc. (“CPG”). CPG companies own and operate more than 15,000 miles of plannedally located natural gas pipelines, integrated with one of the largest underground storage systems in North America. Preceding to CPG’s separation from NiSource Inc. in July 2015, Skaggs served as chief executive officer of NiSource since 2005 and president since 2004. NiSource Inc. is a Fortune 500 energy holding company engaged in natural gas transmission, storage and distribution, in addition to electric generation, transmission and distribution. NiSource relies on balanced fuel sources for its generation, counting coal.
Cloud Peak Energy Inc., through its auxiliaries, produces coal in the Powder River Basin (PRB) and the United States. The company operates through Owned and Operated Mines, Logistics and Related Activities, and Corporate and Other segments. It produces and sells sub-bituminous thermal coal with low sulfur content primarily to electric utilities operating in the United States and internationally.
Target Corporation (NYSE:TGT), ended its Monday’s trading session with 0.23% gain, and closed at $84.10.
CVS Health Corporation (CVS) and Target Corporation (TGT) declared that they have reached a definitive agreement for CVS Health to acquire Target’s pharmacy and clinic businesses for about $1.9 billion. Through this agreement, CVS Health will acquire Target’s more than 1,660 pharmacies across 47 states and operate them through a store-within-a-store format, branded as CVS/pharmacy. In addition, a CVS/pharmacy will be comprised of in all new Target stores that offer pharmacy services. Target’s nearly 80 clinic locations will be rebranded as MinuteClinic, and CVS Health will open up to 20 new clinics in Target stores within three years of the close of the transaction. The new clinics will be part of CVS/minuteclinic’s plan to operate 1,500 clinics by 2017. In addition, CVS Health and Target plan to develop five to 10 small, flexible format stores over a two-year period following the deal close, which will each be branded as TargetExpress and comprise a CVS/pharmacy.
Target Corporation operates as a general merchandise retailer in the United States and Canada. It offers household essentials, counting pharmacy, beauty, personal care, baby care, cleaning, and paper products; music, movies, books, computer software, sporting goods, and toys; electronics, such as video game hardware and software; and apparel for women, men, boys, girls, toddlers, infants, and newborns, in addition to intimate apparel, jewelry, accessories, and shoes.
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