During Wednesday’s trade, Shares of XPO Logistics Inc (NYSE:XPO), gained 3.97% to $28.00.
XPO Logistics, declared that it has extended its formerly declared tender offer to purchase all of the outstanding shares of common stock of Con-way Inc. (“Con-way”) (CNW) for $47.60 per share in cash (the “Offer”). The Offer will now expire right away after 12:01 a.m., New York City time, on October 30, 2015, unless it is further extended. All other terms and conditions of the Offer remain unchanged.
The completion of the Offer remains subject to certain customary terms and conditions set forth in the Offer to Purchase, dated September 15, 2015, as amended (the “Offer to Purchase”), and other related materials by which the Offer is being made. As formerly revealed, the mandatory waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, has been terminated, and the Offer has been cleared unconditionally under the Dutch Competition Act of 22 May 1997, as amended. On October 16, 2015, the Offer was also cleared unconditionally under the Mexican Federal Law on Economic Competition of 2014, as amended. The Offer has been extended to allow additional time for the satisfaction of the Marketing Period Condition, as defined in the Offer to Purchase.
Computershare Trust Company, N.A., the depositary for the Offer, has advised XPO that as of the close of business, New York City time, on October 16, 2015, about 39,965,441 shares of common stock of Con-way have been validly tendered and not properly withdrawn following the Offer, representing about 70.3% of Con-way`s outstanding shares. Shareholders who have already tendered their shares of common stock of Con-way do not have to re-tender their shares or take any other action as a result of the extension of the Offer.
XPO Logistics, Inc. provides transportation and logistics services primarily in the United States. The company operates through two segments, Transportation and Logistics. The Transportation segment provides truckload, less-than truckload and intermodal brokerage, and last-mile delivery logistics services under the brands XPO Logistics, XPO Last Mile, and Pacer; and time-critical, time-sensitive, or high precedingity freight shipment services under the brand names XPO Express, XPO NLM, and XPO Air Charter.
Shares of Welltower Inc (NYSE:HCN), inclined 1.15% to $70.51, during its current trading session.
S&P Dow Jones Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices:
The shareholders of Regal Lifestyle Communities Inc. (RLC.TO) have agreed to the terms of a Plan of Arrangement with Welltower Inc. (HCN). Shareholders of Regal Lifestyle Communities will receive $CDN12.00 cash for each share held. Regal Lifestyle Communities will be removed from the S&P/TSX SmallCap Index after the close of trading on Friday, October 23, 2015 .
Welltower Inc. is an independent equity real estate investment trust. The firm engages in acquiring, planning, developing, managing, repositioning and monetizing of real estate assets. It primarily invests in the real estate markets of the United States.
Finally, Shares of State Street Corp (NYSE:STT), lost -0.22%, and is now trading at $68.12.
In recognition of their support and leadership in the LGBT community, State Street Corporation (STT) Executive Vice President and Chief Marketing Officer Hannah Grove has been named to the OUTstanding LGBT Leading Ally Executives list, and Morgana Bailey, Vice President in Global Human Resources, has been named to the LGBT Future Leaders list released recently by OUTstanding in partnership with the Financial Times. The lists recognize business leaders who are outspoken and unwavering in their support for LGBT people in the workplace and professionals who go above and beyond their day jobs to improve the working environment for LGBT employees.
Grove has championed State Street’s diversity and inclusion policies since she first joined the company in 1998. Recently, she serves as executive sponsor for State Street Pride and Friends, the company’s LGBT employee network. State Street has long been a leader in workplace diversity, maintaining partnerships with Gay & Lesbian Advocates & Defenders (GLAD) and Stonewall LGBT rights charity in the United Kingdom.
“I’m honored to be recognized as an ally for the work we do here at State Street and hope that our ranks will continue to grow,” Grove said. “Encouraging and embracing diversity delivers better results, a more engaged workforce where people feel comfortable in bringing their true selves to the office and a more dynamic culture. I’m also thrilled to be recognized alongside Morgana, who is one of the bravest individuals I know.”
State Street Corporation provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, counting custody; product- and participant-level accounting; daily pricing and administration; master trust and master custody; record-keeping; cash administration; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; and performance, risk, and compliance analytics.
