On Wednesday, Eli Lilly and Co (NYSE:LLY)’s shares inclined 1.68% to $84.89.
Ally Financial Inc (ALLY) has planned the release of its second quarter 2015 financial results for Tuesday, July 28, 2015. The press release will be issued at 7:30 a.m. EDT via PR Newswire and on the Ally Media Center website (http://media.ally.com).
Ally Financial Inc. provides financial products and services primarily to automotive dealers and their customers in the United States. It offers dealer financial services, counting a range of financial services and insurance products to automotive dealers and retail customers.
CIGNA Corporation (NYSE:CI)’s shares dropped -0.19% to $161.69.
A.M. Best has placed the financial strength rating (FSR) of A (Excellent) and the issuer credit ratings (ICR) of “a” of the key life/health auxiliaries, the medical health maintenance organizations (HMO) and dental HMO auxiliaries of Cigna Corporation (collectively referred to as Cigna) (Bloomfield, CT) [CI] under review with developing implications. Conpresently, the ICR of “bbb” of Cigna and its existing debt ratings have been placed under review with developing implications. A.M. Best also has placed the FSRs of A- (Excellent) and the ICRs of “a-” of four Cigna supplemental benefit companies and six Cigna HealthSpring companies under review with developing implications.
The actions follow the recent public declarement by Anthem, Inc. (Anthem) (Indianapolis, IN) [NYSE:ANTM] of its intent to acquire Cigna for $184 a share in cash and stock. Although the price represents noteworthy premium to Cigna’ stock price, Cigna’s board publicly rejected the proposal, claiming that it is not in the best interest of shareholders. However, Anthem reiterated its commitment to the proposal and publicly revealed details of the potential transaction. The transaction is planned to be financed through a combination of cash and new debt with predictable financial leverage reaching around 50% following the deal completion. The acquisition will be subject to regulatory approval in multiple jurisdictions, which could extend until the end of 2016.
Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. The company’s Commercial segment offers insured and self-insured customers medical, dental, behavioral health, and vision, in addition to prescription drug benefit plans, health advocacy programs, and other products and services. Its Government segment offers Medicare Advantage plans to seniors in 16 states and the District of Columbia, Medicare Part D plans in 50 states and the District of Columbia, and Medicaid plans.
At the end of Wednesday’s trade, Magnum Hunter Resources Corp (NYSE:MHR)‘s shares dipped -6.68% to $1.75.
Magnum Hunter Resources Corp (MHR) declared that it has declared a monthly cash dividend on the Company’s 10.25% Series C Cumulative Perpetual Preferred Stock (“Series C Preferred Stock”), a monthly cash dividend on the Company’s 8.0% Series D Cumulative Preferred Stock and a monthly cash dividend on the Company’s 8.0% Series E Cumulative Convertible Preferred Stock (“Series E Preferred Stock”). The outstanding shares of Series E Preferred Stock are represented by depositary shares (the “Depositary Shares”), each representing a 1/1,000th interest of a share of Series E Preferred Stock.
The dividend on the Series C Preferred Stock, which is for the month of June 2015, is payable on June 30, 2015, to holders of record at the close of business on June 15, 2015. The payment will be an annualized 10.25% per share, which is equivalent to about $0.2135 per share, based on the $25.00 per share liquidation preference of the Series C Preferred Stock. The Series C Preferred Stock is presently listed on the NYSE MKT and trades under the ticker symbol “MHR.PRC”.
The dividend on the Series D Preferred Stock, which is for the month of June 2015, is payable on June 30, 2015, to holders of record at the close of business on June 15, 2015. The payment will be an annualized 8.0% per share, which is equivalent to about $0.3333 per share, based on the $50.00 per share liquidation preference of the Series D Preferred Stock. The Series D Preferred Stock is presently listed on the NYSE MKT and trades under the ticker symbol “MHR.PRD”.
Magnum Hunter Resources Corporation, an independent oil and gas company, explores for, exploits, acquires, develops, and produces crude oil, natural gas, and natural gas liquid resources in the United States. The company operates through the U.S. Upstream, Midstream, and Oilfield Services segments.
Brookdale Senior Living, Inc. (NYSE:BKD), ended its Wednesday’s trading session with -0.94% loss, and closed at $34.38.
Brookdale Senior Living Inc. (BKD) and HCP, Inc. (HCP) declared the closing of their formerly declared portfolio acquisition of 35 private pay senior housing communities (the “Portfolio”) representing 5,025 units for $847 million from Chartwell Retirement Residences.
Brookdale has operated the Portfolio since 2011 after its acquisition of Horizon Bay and will continue to manage these communities under a RIDEA joint venture structure with HCP and Brookdale owning 90% and 10%, respectively. The Portfolio was attained unencumbered by third party debt and is projected to generate a first year cash yield of about 6.6%.
Brookdale Senior Living Inc. owns and operates senior living communities in the United States. It operates through five segments: Retirement Centers, Assisted Living, Ongoing Care Retirement Communities (CCRCs)Rental, Brookdale Ancillary Services, and Administration Services. The Retirement Centers segment owns or leases communities comprising independent living and assisted living units in a single community that are primarily designed for middle to upper income senior citizens.
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