On Friday, Expeditors International of Washington (NASDAQ:EXPD)’s shares declined -0.42% to $48.10.
Expeditors International of Washington (EXPD) declared the appointment of Daniel R. Wall to the position of President, Global Products. Mr. Wall will assume the Company’s product leadership role presently held by R. Jordan Gates. On April 1, 2015 the Company declared Mr. Gates’ intention to retire in 2015. His retirement will become effective on July 31, 2015.
Mr. Wall started his 28-year career at Expeditors as a messenger responsible for clients’ Customs documents in the Seattle branch office in 1987. During the course of his career, he has held many positions counting the District Manager of the Company’s Denver and Seattle offices, Global Director of Account Administration, and the position he presently holds as the Company’s Senior Vice President responsible for Ocean Services and Order Administration.
Expeditors International of Washington, Inc. provides logistics services. The company’s services comprise air and ocean freight consolidation and forwarding, customs clearance, warehousing and distribution, purchase order administration, vendor consolidation, time-definite transportation services, cargo insurance, and other logistics solutions. It acts as a freight consolidator or as an agent for the airline, which carries the shipment.
Digital Realty Trust, Inc. (NYSE:DLR)’s shares gained 2.12% to $66.58.
Digital Realty Trust, Inc. (DLR) is working on a bid to acquire private equity-owned data center peer Telx Group Inc for more than $2 billion, in a deal that would diversify its business, according to people familiar with the matter.
Digital Realty’s move is the latest sign of consolidation in the data center sector, as U.S. businesses’ burgeoning demand for data and video is fueling a revival in fiber optic services and data storage.
Digital Realty, a San Francisco-based real estate investment trust that rents out space that companies use for data centers, is one of several U.S. and international bidders for Telx, the people said this week. The auction for Telx, which is owned by ABRY Partners LLC and Berkshire Partners LLC, is at its early stages, the people added.
The sources asked not to be identified because the sale process is confidential. Telx, Digital Realty and Berkshire Partners declined to comment, while ABRY Partners did not right away respond to a request for comment.
Privately-held data center companies have been selling to larger publicly traded rivals in recent months, with Digital Realty rival QTS Realty Trust Inc buying Carpathia Hosting, fiber network company Zayo Group Holdings Inc buying Latisys and CyrusOne purchasing Cervalis.
Digital Realty Trust, Inc., a real estate investment trust (REIT), through its controlling interest in Digital Realty Trust, L.P., engages in the ownership, acquisition, development, redevelopment, and administration of technology-related real estate. It focuses on planned ally located properties containing applications and operations critical to the day-to-day operations of technology industry tenants and corporate enterprise datacenter users, counting the information technology departments of Fortune 1000 companies, and financial services companies.
At the end of Friday’s trade, Costco Wholesale Corporation (NASDAQ:COST)‘s shares dipped -0.39% to $138.78.
Costco Wholesale Corporation (COST) said on Thursday that it will continue to procure eggs from Hillandale Farms, which an animal welfare group this week said was mistreating hens at one of its facilities in Gettysburg, Pennsylvania.
The Humane Society of the United States released footage by a former Hillandale employee showing hens laying eggs in cramped cages with deceased birds. The footage, gathered in April and May, also showed broken eggs and dead chickens on the floor.
The conditions in the video appeared to violate Costco’s published “Mission Statement on Animal Welfare.” The retailer said it believes it to be an isolated incident.
Hillandale facilities were checked as recently as this week by outside inspectors and the egg producer was found to be “behaving appropriately,” Costco, the third-largest U.S. retailer, said in a statement.
Costco conducts annual audits of vendors of animal products and says in its mission statement that it is committed to the welfare and proper handling of all animals used to produce food for its stores.
Costco Wholesale Corporation, together with its auxiliaries, operates membership warehouses. The company offers branded and private-label products in a range of merchandise categories. It provides dry and institutionally packaged foods; snack foods, candy, tobacco, alcoholic and nonalcoholic beverages, and cleaning and institutional supplies; appliances, electronics, health and beauty aids, hardware, garden and patio, and office supplies; meat, bakery, deli, and produce; and apparel, small appliances, and home furnishings.
KKR & Co. L.P. (NYSE:KKR), ended its Friday’s trading session with -0.90% loss, and closed at $23.10.
Bayer AG has reached a definitive agreement to sell its Diabetes Care business to Panasonic Healthcare Holdings Co., Ltd., a company which is backed by funds sponsored by leading global investment firm KKR & Co. L.P. (KKR) and the Panasonic Corporation. The total consideration for the transaction is EUR 1,022 million (JPY 138 billion). The sale will comprise the leading Contour™ portfolio of blood glucose monitoring meters and strips, in addition to other products such as Breeze™2, Elite™ and Microlet™ lancing devices. Closing of the transaction is subject to customary conditions, counting relevant antitrust clearance, and is predictable to occur in the first quarter of 2016.
Johannes Huth, Member and Head of KKR Europe, Africa and Middle East, and Hiro Hirano, Member and CEO of KKR Japan, said, “We are happy that Bayer Diabetes Care chose Panasonic Healthcare and KKR as the trusted partners for bringing the business to its next stage of development. This is another milestone in KKR’s track record of partnering with leading German and Japanese corporate and in growing top health care companies. Together, we will leverage our experience and network to create a global diabetes care solutions powerhouse in an effort to make this a transformational transaction for the diabetes care industry.”
Bayer’s Diabetes Care business is a technological leader in blood glucose monitoring systems, lancing devices and diabetes administration software. The business accounted for EUR 909 million in sales in 2014, with Contour™ being the principal product portfolio. The Contour™ portfolio comprises Contour™ Next, Contour™ Plus, Contour™ and Contour™ TS and is designed to meet the needs of all patients regardless of type of diabetes, stage of disease, or testing frequency. Other products comprise Breeze™2, Brio™, Entrust™, Elite™ and Microlet™ lancing devices.
KKR & Co. L.P. is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, administration buyouts, credit special situations, growth equity, mature, mezzanine, distressed, and middle market investments.
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