On Monday, Shares of AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG), lost -1.87% to $52.01.
AMAG Pharmaceuticals, declared that it has accomplished the acquisition of Cord Blood Registry(R)(CBR(R), the world’s largest umbilical cord blood stem cell collection and storage company serving pregnant women and their families, for $700 million in cash (subject to certain adjustments). The transaction was declared on June 29, 2015, and is predictable to be right away accretive to AMAG’s adjusted EBITDA and earnings.
CBR’s state-of-the-art storage facility presently houses more than 600,000 preserved umbilical cord blood and tissue stem cell units, which CBR believes represents more than half of all privately stored cord units in the United States. To date, CBR has released more stem cell units to families for established and investigational treatment than any other cord blood company worldwide.
In 2014, CBR generated non-GAAP revenue of $126 million and adjusted EBITDA of $45 million. AMAG anticipates about $15 million in annual expense synergies associated with the CBR transaction.
AMAG Pharmaceuticals, Inc. operates as a specialty pharmaceutical company that focuses on maternal health, anemia, and cancer supportive care. It markets Makena, a hydroxyprogesterone caproate injection to reduce the risk of preterm birth in women with a singleton pregnancy; Feraheme (ferumoxytol) injection for use as an intravenous (IV) iron replacement therapy for the treatment of iron deficiency anemia in adult patients with chronic kidney disease; and MuGard Mucoadhesive Oral Wound Rinse for the administration of oral mucocitis/stomatiits and various types of oral wounds.
Shares of Clean Energy Fuels Corp (NASDAQ:CLNE), remained flat at $4.07, during its last trading session.
The following statement should be attributed to Andrew J. Littlefair, president and CEO of Clean Energy Fuels Corp. (CLNE).
“My co-founder, Boone Pickens, let me know that he has filed a Form 144 to sell a small portion of his overall holdings in Clean Energy, up to 3 million shares. He emphasized that he still remains as bullish as ever on the company’s future and the benefits of natural gas as a transportation fuel, validated by the growing number of vehicle fleets fueling at Clean Energy stations. Boone will continue to be our largest shareholder, an active member of the company’s board of directors and a valuable energy expert for us to tap into.”
Natural gas fuel costs up to $1.00 less than gasoline or diesel, depending on local market conditions. The use of natural gas fuel also reduces greenhouse gas emissions up to 30% in light-duty vehicles and 23% in medium to heavy-duty vehicles. In addition, nearly all natural gas consumed in North America is produced in North America.
Clean Energy Fuels Corp. provides natural gas as an alternative fuel for vehicle fleets in the United States and Canada. It designs, builds, operates, and maintains fueling stations; and supplies compressed natural gas (CNG) fuel for light, medium, and heavy-duty vehicles, in addition to liquefied natural gas (LNG) fuel for medium and heavy-duty vehicles.
At the end of Monday’s trade, Shares of DealerTrack Technologies Inc (NASDAQ:TRAK), gained 0.14% to $62.70.
Cox Automotive, Inc. and Dealertrack Technologies, Inc. (TRAK) declared that following the Agreement and Plan of Merger, dated June 12, 2015, by and among Cox Automotive, Runway Acquisition Co., and Dealertrack, Cox Automotive has extended the offering period of its formerly declared tender offer to purchase all of the outstanding shares of common stock of Dealertrack for $63.25 per Share, net to the seller thereof in cash, without interest and subject to any withholding taxes required by applicable law and upon the terms and subject to the conditions set forth in the Offer to Purchase dated June 26, 2015. The Offer, which was formerly planned to expire at 12:00 midnight, New York City time, at the end of Monday, September 14, 2015, has been extended until 12:00 midnight, New York City time, on Wednesday, September 23, 2015, unless it is extended further under the circumstances set forth in the Merger Agreement. All terms and conditions of the Offer shall remain unchanged during the extended period.
American Stock Transfer & Trust Company, LLC, the depositary for the Offer, has advised Cox Automotive and Dealertrack that, as of 5:00 p.m., New York City time, on September 11, 2015, about 20,349,447 Shares of Dealertrack had been validly tendered and not validly withdrawn following the Offer (not counting 33,900 Shares tendered following notices of guaranteed delivery for which Shares have not yet been delivered in settlement or satisfaction of such guarantee), representing about 36.20% of Dealertrack’s outstanding Shares. Shareholders who have already tendered their Shares of Dealertrack do not have to re-tender their Shares or take any other action as a result of the extension of the Expiration Date of the Offer.
The acquisition is subject to a minimum tender of at least a majority of outstanding Dealertrack shares on a fully diluted basis, customary regulatory approvals and closing conditions. The expectation that the acquisition will close in the third quarter of 2015 remains unchanged.
Dealertrack Technologies, Inc. provides Web-based software solutions and services to the automotive retail industry in the United States and Canada. It offers digital marketing solutions, which provide Websites, digital advertising, and other digital marketing offerings to assist dealers in achieving higher lead conversion rates that assist to optimize various shoppers to their Websites; dealer administration solutions, which provide dealer administration system featuring tools and real-time data access; and F&I solutions that allow dealers to streamline the in-store and online sales, in addition to financing processes.
Finally, Lincoln National Corporation (NYSE:LNC), ended its last trade with -0.76% loss, and closed at $49.55.
Lincoln Financial Group, declared that it is once again engaging its online community to assist choose the next winner of its Lincoln’s Legacy Award. Similar to the last two years, the contest will recognize a nonprofit organization that advances President Abraham Lincoln’s legacy of freedom, opportunity and equality through education. Voting will take place from now until 11:59 p.m. ET on October 2, 2015. During that time, fans of Lincoln Financial and each nonprofit will cast votes for the finalist that will ultimately win the $50,000 award. The Lincoln’s Legacy Award is a key component of “Lincoln’s Legacy,” the company’s three-year initiative that began in 2013 with the 150th anniversary of the signing of the Emancipation Proclamation and culminates in 2015, the year that marks the 150th anniversary of the adoption of the 13th Amendment to the Constitution.
“Every day, community organizations large and small work with our children to assist them achieve their hopes and dreams,” said Nancy Rogers, senior vice president and president of the Lincoln Financial Foundation, the philanthropic arm of Lincoln Financial Group. “The Lincoln’s Legacy Award enables us to celebrate and support nonprofits whose principles and programs assist prepare the next generation — through youth education — for the opportunities envisioned by our namesake, President Abraham Lincoln. We wish each finalist the best of luck as the voting starts.”
Lincoln National Corporation, through its auxiliaries, engages in multiple insurance and retirement businesses in the United States. It operates through Annuities, Retirement Plan Services, Life Insurance, and Group Protection segments.
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