On Monday, Shares of Kraft Foods Group, Inc. (NASDAQ:KRFT), gained 0.06% to $85.49.
John Cahill, who agreed to sell Kraft Foods Group Inc. to H.J. Heinz after just a few months as chief executive officer of the macaroni-and-cheese maker, is entitled to a $19.9 million golden parachute, according to Bloomberg.
The payment would comprise more than $9 million in cash and about $10.6 million in equity, according to a filing Monday tied to the deal. Cahill joined Kraft in 2012 from private equity firm Ripplewood Holdings and became chairman of the Northfield, Illinois-based foodmaker as it separated from Mondelez International Inc. He became CEO in December.
The sale to Heinz, which is owned by 3G Capital and Warren Buffett’s Berkshire Hathaway Inc., would create the third-largest food and beverage company in North America. 3G slashed thousands of jobs at Heinz after buying the ketchup maker in 2013 and has promised more cost cuts after taking over Northfield, Illinois-based Kraft, Bloomberg Reports.
Kraft Foods Group, Inc. operates as a consumer packaged food and beverage company. It operates through six segments: Cheese, Refrigerated Meals, Beverages, Meals & Desserts, Enhancers & Snack Nuts, and Canada. The company provides natura, cream, processed, grated and shredded, and cottage chesses, in addition to sour creams; cold cuts, hot dogs, bacons, and protein packs; lunch combinations, pickles, and meat alternatives; coffees, hot beverage systems, packaged juice drinks, powdered beverages, and liquid concentrates; and refreshment beverages.
Shares of Southern Company (NYSE:SO), closed the last trade at $43.65.
Southern Co., owner of Georgia’s largest utility, is building 90 megawatts of solar capacity on three Army bases in the state, according to Bloomberg.
Southern’s Georgia Power unit began construction last week on solar arrays at Fort Gordon and Fort Stewart, Atlanta-based Southern said in a statement Friday. The third project will be at Fort Benning.
The three solar farms will each cost about $75 million and they are predictable to be operational by the end of next year. The electricity will be fed into the local power grid. Bloomberg Reports.
The Southern Company, together with its auxiliaries, operates as a public electric utility company. It is involved in the generation, transmission, and distribution of electricity through coal, nuclear, oil and gas, and hydro resources in the states of Alabama, Georgia, Florida, and Mississippi.
At the end of Monday’s trade, Shares of MFA Financial, Inc. (NYSE:MFA), settled at $7.94.
MFA Financial, declared that in accordance with the terms of its 7.50% Series B Cumulative Redeemable Preferred Stock, the Board of Directors has declared a preferred stock dividend of $0.46875 per share for the quarter ending June 30, 2015. This dividend is payable on June 30, 2015, to preferred stockholders of record as of June 2, 2015.
MFA Financial, Inc., a real estate investment trust (REIT), invests in residential agency and non-agency mortgage-backed securities (MBS), and residential whole loans in the United States (the U.S.). Its MBS are secured by hybrid mortgages, adjustable-rate mortgages, and 15-year and longer term fixed-rate mortgages, in addition to by mortgages that have interest rates that reset more frequently.
Finally, FireEye, Inc. (NASDAQ:FEYE), ended its last trade with closing price of $41.57.
FireEye, declared a planned alliance with ACE Group, a global property and casualty insurer. The relationship brings together expert technical insight from FireEye to assess an individual organization’s threat exposure, with ACE’s Loss Mitigation Services program, a multi-tier offering that assists organizations fully understand and mitigate their cyber security risk. Together, the companies will offer improved visibility into the cyber security preparedness of each client, allowing cyber insurance to be tailored specifically for their risk profile.
The alliance offers a new way for the insurance industry to assist cyber policyholders. FireEye will provide its leading technology, threat intelligence and expertise to assist monitor for suspicious activity, provide context for security alerts and respond to any level of breach. It will enable threat intelligent underwriting and claims to provide risk transfer acceptance and make claim decisions based on the current and accessible threat intel — ultimately resulting in combined operational and financial resilience in case of a security breach.
FireEye, Inc., together with its auxiliaries, provides cybersecurity solutions for detecting, preventing, and resolving cyber-attacks. The company offers vector-specific appliance solutions that provide threat protection from network to endpoint for inbound and outbound network traffic that may contain sensitive information. Its threat prevention solutions comprise appliances covering the Web, email, endpoint, file, and mobile threat vectors.
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