During Tuesday’s Morning trade, Shares of RCS Capital Corp (NYSE:RCAP), lost -1.80% to $0.490.
Apollo Global Administration, and RCS Capital Corporation (RCAP), declared that they have mutually agreed to amend the formerly declared sale of the RCS Capital wholesale distribution business and certain related entities, to an associate of Apollo.
Under the amended agreement, RCS Capital will sell its wholesale distribution business, counting Realty Capital Securities and Planned Capital, to Apollo for $6 million in cash, subject to certain purchase price adjustments. RCS Capital’s profitable transfer agent and transaction administration businesses and certain other employees will not be part of the amended transaction. Apollo is partnering with the administration team of the wholesale distribution business, led by Bill Dwyer and Louisa Quarto, in this transaction. The amended transaction will no longer be conditioned on the closing of a transaction between Apollo and certain associates of AR Capital, LLC.
The revised transaction terms permit RCS Capital to optimize its wholesale distribution cost structure and align its core business units to current market opportunities preceding to closing. The transaction comprises all of RC Securities and Planned Capital existing selling agreements and dealer manager agreements.
“We are happy the transaction has been re-aligned, and we believe the pending acquisition of the wholesale distribution business demonstrates Apollo’s long-term commitment to the retail investment administration channel,” said Marc Rowan, Co-Founder and Senior Managing Director of Apollo.
RCS Capital Corporation engages in the independent retail advice, wholesale distribution, investment banking, capital markets, investment administration, and investment research businesses.
Shares of Mallinckrodt PLC (NYSE:MNK), declined -1.84% to $57.09, during its current trading session.
Mallinckrodt Pharmaceuticals (MNK), a leading specialty biopharmaceutical company, will present on Tuesday, Dec. 8, 2015, at the Oppenheimer 26th Annual Healthcare Conference at the Westin Grand Central, 212 E. 42nd St., in New York City. The conference is Dec. 8 and 9.
Mark Trudeau, President and Chief Executive Officer; Matt Harbaugh, Senior Vice President and Chief Financial Officer; and Cole Lannum, Senior Vice President of Investor Strategy and Investor Relations Officer, will represent the company in a session planned from 8:35 a.m. to 9:05 a.m. Eastern Time.
Mallinckrodt Public Limited Company develops, manufactures, markets, and distributes specialty pharmaceutical products and medical imaging agents worldwide. The company operates through two segments, Specialty Pharmaceuticals and Global Medical Imaging. The Specialty Pharmaceuticals segment provides Acthar, an injectable biopharmaceutical drug for use in various indications, counting neurology, rheumatology, nephrology, and pulmonology; Ofirmev and Xartemis XR for pain indications; EXALGO extended-release tablets to treat chronic pain; and GABLOFEN injections for use in the administration of spasticity of cerebral.
Finally, Shares of Swift Transportation Co (NYSE:SWFT), lost -0.69%, and is now trading at $16.44.
Swift Transportation Company, declares that it will take part in the Baird 2015 Industrial Conference on Wednesday, November 11, in Chicago. The company’s presentation and Q&A negotiation will start at 10:00 a.m. (CST).
Swift Transportation Company operates as a multi-faceted transportation services company in North America. The company operates through four segments: Truckload, Dedicated, Central Refrigerated, and Intermodal. The Truckload segment provides services through one-way movements over irregular routes utilizing company’s and owner-operator tractors with dry van, flatbed, and specialized trailing equipment.