On Monday, Shares of eBay Inc. (NASDAQ:EBAY), lost -0.15% to $61.76.
PayPal, Inc. and Xoom Corporation, declared a definitive agreement under which PayPal will acquire Xoom for $25 per share in cash or an approximate $890 million enterprise value. The transaction represents a premium of 32% over Xoom’s three-month volume-weighted average price and was unanimously approved by the Boards of Directors of both companies, as well as the Board of eBay Inc., PayPal’s parent company.
Xoom is a leader in international remittances enabling customers in the United States to send money to, and pay bills for, family and friends around the world in a secure, fast and cost-effective way, using their mobile phones, tablets or computers.
Predictable Planned Benefits of the Xoom Acquisition
- Extends PayPal’s offering to its customers: Broadens PayPal’s consumer offering to its 68 million active U.S. customers by cross-selling Xoom’s services.
- Accelerates time-to-market: Xoom’s proprietary and fast “funds-out” network enables PayPal to enter this growing marketplace with a leading technology solution with strong presence in key international markets.
- Enables expansion into new markets: Allows Xoom to expand its portfolio of send-markets by leveraging PayPal’s wider international network.
- Delivers a strong technology platform: Xoom’s compelling and reliable technology platform and consumer experience are coupled with its excellent customer service.
J.P. Morgan Securities LLC is acting as financial adviser to PayPal, while Sidley Austin LLP is acting as its legal adviser with regard to the transaction.
PayPal is in the process of being separated from eBay Inc. (EBAY). Upon completion of the separation, which is predictable to occur on July 17, 2015, PayPal will be an independent, publicly traded company listed on the NASDAQ Stock Market under the ticker “PYPL.”
eBay Inc. operates as a technology company that enables commerce and payments on behalf of users, merchants, retailers, and brands of various sizes in the United States and internationally. It operates in three segments: Marketplaces, Payments, and Enterprise.
Shares of Halcón Resources Corporation (NYSE:HK), declined -2.73% to $1.07, during its last trading session, hitting its lowest level.
Halcón Resources Corporation, declared plans to release its second quarter 2015 financial results on Thursday, July 30, 2015 after trading closes on the New York Stock Exchange.
The Company has also planned a conference call to talk about the release for Friday, July 31, 2015 at 10:00 a.m. EDT (9:00 a.m. CDT). Investors may take part in the conference call via telephone by dialing (877) 810-3368 for domestic callers or (914) 495-8561 for international callers, in both cases using conference ID 79637432, and asking for the Halcón call a few minutes preceding to the start time.
Halcón Resources Corporation, an independent energy company, is engaged in the acquisition, production, exploration, and development of onshore oil and natural gas properties in the United States.
Finally, Vimicro International Corp. (NASDAQ:VIMC), ended its last trade with -1.74% loss, and closed at $10.73.
Vimicro International Corporation, declared that a special committee of independent directors of the Company’s board of directors has retained Duff & Passists, LLC and Duff & Passists Securities, LLC as its financial advisor and Kirkland & Ellis as its legal counsel.
As formerly declared, the Company’s board of directors formed the Special Committee to consider a “going-private” transaction (the “Transaction”) for $3.375 in cash per ordinary share or $13.50 in cash per American depositary share (each representing four ordinary shares), projected by Dr. Zhonghan (John) Deng, the Company’s founder, chairman and chief executive officer and, Zhaowei (Kevin) Jin, the Company’s co-chief executive officer in a preliminary non-binding proposal letter, dated June 21, 2015.
Vimicro International Corporation, together with its auxiliaries, designs, develops, and markets semiconductor products with multimedia applications in Mainland China, Hong Kong, and the United States. The company operates through Video surveillance Solutions and Video Processor segments.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
