On Friday, Shares of Monsanto Company (NYSE:MON), gained 0.50% to $89.70. The stock attained the volume of 4.97 million shares.
Monsanto Company (MON) declared that it has reached accelerated share repurchase (ASR) agreements with Citibank, N.A. and JPMorgan Chase Bank, N.A. to repurchase an aggregate of $3 billion of the company’s common stock. Recently’s ASR is part of Monsanto’s $10 billion share repurchase authorization declared in June 2014.
Under the terms of the ASR agreements, Monsanto will repurchase $3 billion of its common stock from Citibank, N.A. and JPMorgan Chase Bank, N.A. with an aggregate initial delivery of about 28.4 million shares based on current market prices. The final number of shares to be repurchased will be based on Monsanto’s volume-weighted average stock price during the terms of the transactions, less a discount. The ASR is predictable to be accomplished sometime in the next six months. The company is funding the ASR with proceeds from issuance of commercial paper and cash on hand.
Monsanto Company, together with its auxiliaries, provides agricultural products for farmers worldwide. It operates in two segments, Seeds and Genomics, and Agricultural Productivity.
Shares of First Niagara Financial Group Inc. (NASDAQ:FNFG), dropped -2.48% to $10.43, during its last trading session.
The First Niagara Foundation declared grants totaling $1.0 million to support not for profit youth mentoring programs and organizations across New York, Pennsylvania, Connecticut and Massachusetts through the regional bank’s Mentoring Matters℠ program.
The declaration was made at a press conference in Holyoke, Massachusetts with Mass Mentoring Partnership, one of the organizations supported by the Mentoring Matters℠ grant.
“The relationship between a mentor and a mentee can have a lasting, positive effect on a child both academically and personally,” said Gary Crosby, President and CEO of First Niagara. “Through our planned partnership with these organizations, we are able to cast a wide net of support to programs and initiatives in the communities where our customers and employees live, work and do business.”
First Niagara launched Mentoring Matters℠ in 2007 with the aim of supporting organizations whose great work assists children improve their grades and school attendance, enhance their self-esteem, avoid the dangers of drugs and alcohol and have a better opportunity for a brighter future.
First Niagara Financial Group, Inc. operates as the bank holding company for First Niagara Bank, N.A. that provides retail and commercial banking, and other financial services to individuals, families, and businesses.
Finally, Chicago Bridge & Iron Company N.V. (NYSE:CBI), ended its last trade with -0.77% loss, and closed at $44.08.
CB&I (CBI) declared it has been awarded a contract extension valued at about $60 million by Louisiana Pigment, LP, to provide operations and maintenance at its specialty chemicals plant in Westlake, Louisiana.
“CB&I is happy to be selected for the continuation of these operational services,” said Chip Ray, President of CB&I’s Capital Services operating group. “This contract signals the recognition of a long-standing relationship with Louisiana Pigment, and we are committed to delivering outstanding execution and superior safety performance.”
Chicago Bridge & Iron Company N.V. provides conceptual design, technology, engineering, procurement, fabrication, modularization, construction, commissioning, maintenance, program administration, and environmental services worldwide.
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