During Friday’s trade, Shares of Schlumberger Limited. (NYSE:SLB), lost -2.04% to $70.01.
Schlumberger Limited, declared that Schlumberger Holding Corporation (“SHC”), its wholly-owned partner and the holding company for its U.S. operations, will issue five tranches of senior notes with the following maturities: 2017 (the “2017 Notes”); 2018 (the “2018 Notes”); 2020 (the “2020 Notes”); 2022 (the “2022 Notes”); and 2025 (the “2025 Notes” and together with the 2017 Notes, the 2018 Notes, the 2020 Notes and the 2022 Notes, the “Notes”). The offering is predictable to close on December 10, 2015.
The net proceeds to SHC from the offering will be used for general corporate purposes, counting to finance a portion of the consideration of Schlumberger’s pending acquisition of Cameron International Corporation.
Schlumberger Limited supplies technology, integrated project administration, and information solutions to the oil and gas exploration and production industries worldwide. The company operates through Reservoir Characterization Group, Drilling Group, and Production Group segments.
Shares of Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA), declined -1.24% to $63.79, during its current trading session.
Teva Pharmaceutical Industries Ltd., declared that it has closed its formerly declared offerings totaling $6.75 billion, comprising of 54 million American Depositary Shares (“ADSs”), each representing one Teva ordinary share, at $62.50 per ADS and 3,375,000 of its 7.00% Mandatory Convertible Preferred Shares at $1,000.00 per share.
The net proceeds from the ADS offering and the Mandatory Convertible Preferred Shares offering were about $3.29 billion each, after estimated underwriting discounts, commissions and offering expenses payable by Teva. Teva intends to use the net proceeds from these offerings towards the cash portion of the purchase price for its formerly declared acquisition of Allergan plc’s worldwide generic pharmaceuticals business (“Actavis Generics”) and related fees and expenses, for the pending acquisition of Rimsa or otherwise for general corporate purposes. If for any reason the acquisitions do not close, Teva anticipates to use the net proceeds from these offerings for general corporate purposes. In addition, the underwriters in each offering have been granted an option to purchase up to an additional 10% of the ADSs and up to an additional 10% of the Mandatory Convertible Preferred Shares, in each case, solely to cover overallotments, if any.
Barclays, BofA Merrill Lynch, Citigroup, Morgan Stanley, BNP PARIBAS, Credit Suisse, HSBC, Mizuho Securities, RBC Capital Markets and SMBC Nikko acted as the joint book-running managers for the offerings. Rothschild served as financial advisor to Teva in connection with the offerings.
Teva Pharmaceutical Industries Limited develops, manufactures, markets, and distributes generic, specialty, and other pharmaceutical products worldwide. The company operates in two segments, Generic Medicines and Specialty Medicines. The Generic Medicines segment offers generic or branded generic medicines; specialized products, such as sterile products, hormones, narcotics, high-potency drugs, and cytotoxic substances; and active pharmaceutical ingredients.
Finally, Oncothyreon Inc (USA) (NASDAQ:ONTY), remained flat at $2.35.
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Oncothyreon Inc. (ONTY) opened yesterday’s session at 2.29 bettering the previous close of 2.13. The strong start was a relief for some investors who no doubt felt the brunt of the confusion which erupted over data released by the company in the sessions prior. ONTY released data on its ongoing trials testing ONT-380 in patients with breast cancer. In the end investors and analysts seemed to have made sense of the data because ONTY went on to post a high of 2.48 on better than average volume of 3.8M shares. ONTY closed the day at 2.35 which confirmed the bullish turnaround, ensuing current momentum. We will continue to monitor ONTY and will alert our newsletter subscribers when a gain opportunity presents itself.
Oncothyreon Inc., a clinical-stage biopharmaceutical company, engages in the research and development of therapeutic products for the treatment of cancer. Its clinical-stage product candidates comprise ONT-380, an orally active and selective small-molecule HER2 inhibitor, which is in two Phase 1b trials, one in combination with Kadcyla and another in combination with Xeloda and/or Herceptin; and ONT-10, a therapeutic vaccine in Phase 1 trial targeting the Mucin 1 peptide antigen (MUC1) for use in various cancer indications, counting breast, thyroid, colon, stomach, pancreas, ovarian, and prostate, in addition to certain types of lung cancer.
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