On Wednesday, Shares of Altria Group Inc (NYSE:MO), gained 0.88% to $55.90.
Altria Group, has declared a proposal for a cash offer for SABMiller at £42.15 per ordinary share, with a partial share alternative, as described in AB InBev’s declaration.
Altria believes that a combination of these two companies would create noteworthy value for all SABMiller shareholders. Altria supports a proposal of £42.15, or higher, with a partial share alternative, and, subject to finalization of terms, would be prepared to elect the partial share alternative. Altria urges SABMiller’s board to engage promptly and constructively with AB InBev to agree on the terms of a recommended offer.
Altria Group, Inc., through its auxiliaries, manufactures and sells cigarettes, smokeless products, and wine in the United States and internationally. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, Husky, and Marlboro Snus brand names.
Shares of Media General Inc (NYSE:MEG), inclined 5.75% to $14.72, during its last trading session.
Media General, declared that the Company’s Board of Directors, in consultation with its legal and financial advisors, is carefully reviewing and considering the unsolicited proposal from Nexstar Broadcasting Group, Inc. (NASDAQ:NXST), received on September 28, 2015, to determine the course of action that it believes is in the best interests of the Company and its shareholders. The Board will complete its review in due course and will advise shareholders of the outcome of its review at that time.
The Company also noted that it has retained Goldman, Sachs & Co. and Weil, Gotshal & Manges LLP to assist the Board in its evaluation and consideration of the Nexstar proposal. Goldman, Sachs & Co and Weil, Gotshal & Manges LLP will work together with RBC Capital Markets and Fried, Frank, Harris, Shriver & Jacobson LLP who will continue to serve as financial and legal advisors to the Company.
Media General, Inc. owns and operates television stations in the United States. It operates 71 network-associated stations, and their associated digital media and mobile platforms, counting 22 CBS stations, 14 NBC stations, 12 ABC stations, 8 FOX stations, 7 MyNetworkTV stations, 7 CW stations, and 1 Telemundo station in 48 markets. Media General, Inc. was founded in 1850 and is headquartered in Richmond, Virginia.
Finally, Shares of MGIC Investment Corp. (NYSE:MTG), ended its last trade with 1.24% gain, and closed at $9.78.
The shares opened for trading at $9.69 and hit $9.8 on the upside , eventually ending the session at $9.78, with a gain of 1.24% or 0.12 points. The heightened volatility saw the trading volume jump to 4,348,203 shares. The 52-week high of the share price is $11.72 and the company has a market cap of $3,322 million. The 52-week low of the share price is at $7.27 .
The company shares have rallied 25.03% from its 1 Year high price. On Jul 15, 2015, the shares registered one year high at $11.72 and the one year low was seen on Oct 15, 2014. The 50-Day Moving Average price is $10.04 and the 200 Day Moving Average price is recorded at $10.56.
MGIC Investment Corporation, through its auxiliaries, provides private mortgage insurance and ancillary services to lenders and government sponsored entities in the United States.
