On Tuesday, Markit Ltd (NASDAQ:MRKT)’s shares declined -0.45% to $26.51.
Markit Ltd (MRKT) declared the launch of a secondary public offering of its common shares. In the offering, which is subject to market and other conditions, certain of Markit’s shareholders intend to offer 24,586,022 common shares for sale and to grant the underwriters the right to purchase up to about 1,700,000 additional common shares from the selling shareholders. The company itself is not selling any shares and will not receive any proceeds from the projected offering.
BofA Merrill Lynch, Barclays, Citigroup, Credit Suisse, Deutsche Bank Securities, Goldman, Sachs & Co., HSBC, J.P. Morgan, Morgan Stanley, RBC Capital Markets, UBS Investment Bank, BNP PARIBAS, Jefferies, RBS and TD Securities are acting as joint book-running managers for the offering.
As part of the offering, Markit intends to purchase from the underwriters a number of common shares with an aggregate value of about $350 million at a price per common share equal to the price to be paid to the selling shareholders by the underwriters. Markit intends to fund the repurchase through a combination of cash and a drawdown of its revolving credit facility.
Markit Ltd. provides financial information services worldwide. It operates through three divisions: Information, Processing, and Solutions. The Information division provides pricing and reference data, indices, and valuation and trading services across multiple asset classes and geographies through direct and third-party distribution channels. Its products and services are used for independent valuations, research, trading, and liquidity and risk assessments.
FibroGen Inc (NASDAQ:FGEN)’s shares dropped -5.78% to $19.40.
FibroGen Inc (FGEN) declared that administration will present a company overview at the Goldman Sachs 36th Annual Global Healthcare Conference on June 10, 2015 at 2:00 p.m. PT.
FibroGen, Inc., a research-based biopharmaceutical company, discovers, develops, and commercializes therapeutic agents to treat serious unmet medical needs. It is developing roxadustat, or FG-4592, an oral small molecule inhibitor of hypoxia inducible factor prolyl hydroxylases (HIF-PHs) that is in Phase III clinical development for the treatment of anemia in chronic kidney disease; FG-3019, a monoclonal antibody in Phase II clinical development for the treatment of idiopathic pulmonary fibrosis, pancreatic cancer, and liver fibrosis; and FG-5200 for the treatment of corneal blindness resulting from partial thickness corneal damage.
At the end of Tuesday’s trade, Barclays PLC (ADR) (NYSE:BCS)‘s shares dipped -0.12% to $16.08.
Barclays PLC (ADR) ( BCS) has decided to vend its U.S. Wealth & Investment Administration unit to St. Louis-based Stifel Financial Corp. SF. The parties reached a contract on Jun 8 for an unrevealed amount.
On completion of the deal, all of Barclays Wealth & Investment Administration clients – counting Barclays Wealth Trustees (U.S.) N.A. – will be served by Stifel. However, till then, Barclays will continue to cater to its clients. Additionally, Barclays designated Stifel as its private wealth distribution partner for some of its equities and credit new issue securities.
The deal, which is subject to regulatory approvals, is likely to close in mid-Nov 2015. While no financial details were revealed, Barclays does not expect the deal to have a noteworthy impact its financials.
The Wealth & Investment Administration unit comprises Lehman Brothers’ brokerage arm which Barclays had purchased in 2008. The business was involved in various disputes over the past few years which compelled Barclays to look for prospective buyers. On Monday, however, Barclays and Lehman reached a $1.28 billion settlement centered on certain marginal assets, and promised to drop all current and prospective charges against each other.
Barclays PLC, through its auxiliaries, provides various financial products and services worldwide. It offers personal and corporate banking, mortgage, and wealth and investment administration services to individuals and businesses; consumer payments products and services to consumers and merchants; and retail and business banking, corporate and investment banking, and wealth administration and insurance services.
Mindray Medical International Ltd (ADR) (NYSE:MR), ended its Tuesday’s trading session with -2.15% loss, and closed at $29.19.
Mindray Medical International Ltd (ADR) (MR) declared that its board of directors (the “Board”) has received a preliminary non-binding proposal letter dated June 4, 2015 from Mr. Li Xiting, its Executive Chairman of the Board, President and Co-Chief Executive Officer, Mr. Xu Hang, its Chairman of the Board, and Mr. Cheng Minghe, its Co-Chief Executive Officer and Chief Planned Officer (collectively, the “Buyer Group”), to acquire all of the outstanding shares of the Company not already owned by the Buyer Group in a going private transaction for US$ 30.0 per American Depositary Share (“ADS”, each ADS representing one ordinary share) or US$ 30.0 per ordinary share in cash, subject to certain conditions. A copy of the proposal letter is attached hereto as Exhibit A.
The Board intends to form a special committee comprising of independent directors to consider this proposal. The Company cautions its shareholders and others considering trading in its securities that the Board just received the non-binding proposal and has not made any decisions with respect thereto. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated.
Mindray Medical International Limited develops, manufactures, and markets medical devices worldwide. The company operates in three segments: Patient Monitoring and Life Support Products, In-Vitro Diagnostic Products, and Medical Imaging Systems. The Patient Monitoring and Life Support Products segment offers monitoring devices that track the physiological parameters of patients, such as heart rate, blood pressure, respiration, and temperature.
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