On Tuesday, Shares of Dow Chemical Co (NYSE:DOW), gained 1.73% to $47.11.
The Dow Chemical Company, declared the successful closing of the formerly declared split-off transaction, resulting in the separation of a noteworthy part of Dow’s chlor-alkali and downstream derivatives businesses and merger of these businesses with Olin Corporation (OLN) (“Olin”) to create an industry leader with revenues approaching $7 billion.
Comprised are Dow’s U.S. Gulf Coast Chlor-Alkali and Vinyl, Global Chlorinated Organics, and Global Epoxy business units, in addition to 100 percent interest in the Dow Mitsui Chlor-Alkali joint venture. The closing of the merger followed the expiration of the related exchange offer and the satisfaction of certain other conditions. As a result of the exchange offer, Dow will reduce outstanding shares of its common stock by more than 34 million shares or nearly 3 percent of outstanding common shares.
The transaction is highly accretive to Dow and Dow shareholders, with a tax-efficient consideration of greater than $4.6 billion on an after-tax basis and taxable equivalent value in excess of $7 billion.
With this transaction, Dow exceeds its prior stated aim to divest $7 billion to $8.5 billion of non-planned businesses and assets by mid-2016, with the total now approaching more than $12 billion in pre-tax proceeds.
The Dow Chemical Company (Dow) is as an integrated science and technology company. The Company is a diversified, manufacturer and supplier of products used primarily as raw materials in the manufacture of customer products and services across the world.
Shares of Paypal Holdings Inc (NASDAQ:PYPL), declined -2.48% to $31.86, during its last trading session.
For the first time in the company’s history, PayPal (PYPL) has been named one of the world’s most valuable brands for 2015, according to Interbrand, the world-leading brand consultancy.
PayPal, the world’s leading digital payments platform, achieved this recognition just two months after becoming an independent, public company. Ranked 97, Interbrand cited PayPal as one of five new entrants this year.
Interbrand publishes the ranking of the top 100 brands based on a unique methodology analyzing the many ways a brand touches and benefits an organization, from attracting top talent to delivering on customer expectation. Three key aspects contribute to a brand’s value; the financial performance of the branded products or services, the role of brand in the purchase decision process and the strength of the brand has to command a premium price, or secure earnings for the company.
PayPal Holdings, Inc. (PayPal) is a technology platform company, which enables digital and mobile payments on behalf of consumers and merchants around the world. The Company focuses on its consumers, merchants, friends and family to access and move their money through its platform using various devices, such as mobile, tablets, personal computers and wearables.
Shares of The Western Union Company (NYSE:WU), declined -0.69% to $18.61, during its last trading session.
The Western Union Company, declared recently that Hikmet Ersek, President and CEO, and Raj Agrawal, Executive Vice President and CFO, will host a webcast and conference call to discuss third quarter 2015 results on October 29, 2015 at 4:30 p.m. Eastern Time. A press release highlighting the financial results will be issued at about 4:00 p.m. Eastern Time the same day.
The Western Union Company (Western Union) is a global provider of money movement and payment services. The Company classifies its businesses into three: Consumer-to-Consumer, Consumer-to-Business and Business Solutions.
Finally, State Street Corp (NYSE:STT), ended its last trade with -0.82% loss, and closed at $68.11.
State Street Corp, plans to release its third-quarter 2015 financial results on Friday, October 23, 2015, followed by a related internet broadcast of a conference call at 9:30 a.m. EDT.
State Street Corporation (State Street), the parent company, is a financial holding company. The parent company provides financial and managerial support to its legal and operating subsidiaries.
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