During Wednesday’s Current trade, Shares of Depomed (NASDAQ:DEPO), lost -0.42% to $27.36.
Depomed, Inc. (DEPO) (“Depomed” or the “Company”) recently confirmed that Horizon Pharma plc (HZNP) (“Horizon”) has declared that it has commenced an unsolicited exchange offer to acquire all of the outstanding shares of Depomed. Under the terms of the offer, Horizon is offering an exchange ratio of 0.95 of Horizon shares for each share of Depomed, remaining unchanged from its preceding unsolicited proposal.
The Company noted that on August 19, the Depomed Board unanimously rejected Horizon’s revised proposal that offered for an exchange ratio of 0.95 of Horizon shares for each share of Depomed. The Board strongly believed that the revised proposal significantly undervalued Depomed, and did not reflect the value Depomed would contribute to the combined company or the value of the synergies from the transaction.
Depomed, Inc., a specialty pharmaceutical company, develops products for pain and other central nervous system conditions in the United States. It offers Gralise (gabapentin), an once-daily product for the administration of postherpetic neuralgia; CAMBIA (diclofenac potassium for oral solution), a non-steroidal anti-inflammatory drug indicated for acute treatment of migraine attacks in adults; Zipsor (diclofenac potassium) liquid filled capsule, a non-steroidal anti-inflammatory drug for the treatment of mild to moderate acute pain in adults; and Lazanda (fentanyl) nasal spray, an intranasal fentanyl drug used to manage breakthrough pain in adults.
Shares of Comerica Incorporated(NYSE:CMA), declined -0.39% to $43.10, during its current trading session.
Comerica Bank recently declared that Peter L. Sefzik has been named its Texas market president, effective right away. Sefzik succeeds and will now report directly to J. Patrick Faubion, who in July was named executive vice president of Comerica’s Business Bank. With this appointment, Sefzik will also join Comerica’s Administration Policy Committee.
As Texas market president, Sefzik will lead Comerica’s Texas Administration Council and oversee all business and community development efforts in the bank’s headquarters market, counting direct administration responsibility for Middle Market and Energy Lending in Texas. Additionally, he will manage six regional presidents and have overall market responsibilities for the commercial, wealth and retail lines of business in Texas, Arizona and Florida.
Comerica Incorporated, through its auxiliaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Administration. The Business Bank segment offers various products and services, such as commercial loans and lines of credit, deposits, cash administration, capital market products, international trade finance, letters of credit, foreign exchange administration services, and loan syndication services to middle market businesses, multinational corporations, and governmental entities. The Retail Bank segment provides small business banking and personal financial services, counting consumer lending, consumer deposit gathering, and mortgage loan origination.
Terex Corporation(NYSE:TEX), during its Wednesday’s current trading session decreased -1.14% to $21.70.
Terex Corporation (TEX) declared income from ongoing operations of $85.2 million, or $0.78 per share for the second quarter of 2015, as contrast to income from ongoing operations of $87.8 million, or $0.76 per share for the second quarter of 2014. Net sales were $1,828.5 million in the second quarter of 2015, a decrease of $226.6 million, or 11.0%, when contrast with $2,055.1 million in the second quarter of 2014. Not taking into account the impact of currency, net sales declined about 2.0%. Income from operations was $148.3 million in the second quarter of 2015, a decrease of $12.6 million when contrast to income from operations of $160.9 million in the second quarter of 2014.
Terex Corporation operates as a lifting and material handling solutions company. Its Aerial Work Platforms segment designs, manufactures, services, and markets aerial work platform equipment, telehandlers, and light towers, in addition to related components and replacement parts under Terex and Genie names. The company’s Construction segment offers compact construction equipment, counting loader backhoes, mini and midi excavators, wheeled excavators, site dumpers, compaction rollers, skid steer loaders, and wheel loaders; and specialty equipment, such as material handlers, concrete mixer trucks, and concrete pavers. Its Cranes segment designs, manufactures, services, refurbishes, and markets mobile telescopic, tower, lattice boom crawler, lattice boom truck, utility equipment, and truck-mounted cranes, in addition to related components and replacement parts under Terex name.
Finally, Teradata Corporation(NYSE:TDC), gained 1.90%, to $30.00.
Teradata Corporation (TDC), the leading analytic data solutions company, recently declared that its Board of Directors has authorized an additional $500 million for share repurchases, expiring August 20, 2018, under its general open market share repurchase program. The company now has total Board of Directors authorization of about $860 million when the new $500 million authorization is combined with the $360 million still remaining from the current outstanding authorization.
The stock is anticipated to be repurchased periodically on an ongoing basis in open market transactions at administration’s discretion, in accordance with applicable securities rules regarding issuer repurchases. Such repurchases by the company will be based on various factors counting price and market conditions, and will be funded through free cash flow, existing credit facilities and possible new debt arrangements that are being considered by the company. Additionally, repurchases may be made under Rule 10b5-1 of the Securities Exchange Act of 1934. A Rule 10b5-1 plan allows Teradata to repurchase its shares during periods when the company otherwise would be precluded from doing so.
Teradata Corporation provides analytic data platforms, marketing and analytic applications, and related services in the United States and internationally. Its analytic data platforms comprise software, hardware, and related business consulting and support services for data warehousing and big data analytics. The company’s products comprise Teradata Database Software that delivers near real-time intelligence; Teradata Workload-Specific Platforms; Teradata Aster Discovery Platform, which is pre-configured with Teradata Aster Database; Teradata Portfolio for Hadoop; and Teradata QueryGrid that provides access to analytics to various processing engines.
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