On Monday, Praxair, Inc.(NYSE:PX)’s shares declined -2.84% to $105.36.
The board of directors of Praxair, Inc. (PX) has declared a quarterly dividend of 71.5 cents per share, unchanged from the previous quarter. The dividend is payable on September 15, 2015 to shareholders of record on September 8, 2015.
The board of directors has also authorized a new share repurchase program for up to $1.5 billion of Praxair’s common stock. Praxair has about $500 million of repurchase authority accessible under its formerly declared buyback authorization from January 2014, giving it about $2.0 billion accessible for stock repurchases under these programs.
Praxair, Inc. produces, sells, and distributes atmospheric, process, and specialty gases, in addition to surface coatings in North America, Europe, South America, and Asia. The company offers atmospheric gases, such as oxygen, nitrogen, argon, and rare gases; and process gases comprising carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.
Owens-Illinois Inc (NYSE:OI)’s shares dropped -2.99% to $19.74.
Owens-Illinois, Inc. (OI) declared that Owens-Brockway Glass Container Inc. (“OBGC”), an indirect wholly owned partner of OI Inc., intends to offer, subject to market and other conditions, a total of $1.0 billion aggregate principal amount of senior notes due 2023 and senior notes due 2025 in a private offering to eligible purchasers under Rule 144A and Regulation S of the Securities Act of 1933, as amended (the “Securities Act”). OBGC`s obligations under the senior notes will be guaranteed on a joint and several basis by Owens-Illinois Group, Inc. (“OI Group”), a direct wholly owned partner of OI Inc. and an indirect parent of OBGC, and the domestic auxiliaries of OI Group that are guarantors under OI Group`s credit agreement.
OBGC anticipates to use the net proceeds from the private offering to fund, in part, its formerly declared acquisition of the food and beverage glass containers business of Vitro, S.A.B. de C.V. and its auxiliaries as conducted in the United States, Mexico and Bolivia (the “Vitro Acquisition”) and to pay related fees and expenses. The private offering of senior notes will be consummated preceding to the consummation of the Vitro Acquisition. Conpresently with the closing of the private offering, the gross proceeds from the sale of the senior notes will be deposited into an escrow account until the consummation of the Vitro Acquisition.
Owens-Illinois, Inc., through its auxiliaries, manufactures and sells glass container products to food and beverage manufacturers primarily in Europe, North America, South America, and the Asia Pacific. It produces glass containers for alcoholic beverages, counting beer, flavored malt beverages, spirits, and wine. The company is also involved in the production of glass packaging for various food items, soft drinks, teas, juices, and pharmaceuticals. It offers glass containers in a range of sizes, shapes, and colors.
At the end of Monday’s trade, YY Inc (ADR) (NASDAQ:YY)‘s shares dipped -13.15% to $51.58.
YY Inc. (YY) a revolutionary real-time interactive social platform, recently declared that in response to the formerly declared preliminary non-binding proposal (the “Proposal”) contained in a letter dated July 9, 2015 that the Company’s board of directors (the “Board”) received from Mr. Jun Lei, Chairman of the Board, and Mr. David Xueling Li, director and Chief Executive Officer of YY (together, the “Buyer Group”) proposing a “going-private” transaction to acquire all of the outstanding ordinary shares of YY not already beneficially owned by the Buyer Group, the Board has formed a special committee of independent and disinterested directors (the “Special Committee”) to review and evaluate the Proposal.
The Special Committee is composed of Mr. Peter Andrew Schloss, Mr. David Tang, and Mr. Peng Tsing Ong, who are independent directors of the Company and are unassociated with the Proposal. Mr. Schloss will be the chairman of the Special Committee. The Board also authorized the Special Committee to, and anticipates that the Special Committee will, retain independent advisors, counting independent financial and legal advisors, to assist it in the process of reviewing and evaluating the Proposal.
YY Inc., through its auxiliaries, operates an online social platform in the People’s Republic of China. It engages users in real-time online group activities through voice, video, and text on personal computers and mobile devices; and enables users to create and organize groups of various sizes to discover and take part in a range of online activities, counting music shows, online games, dating shows, live games broadcasting, and e-learning. The company’s core product is YY Client, which enables users to engage in live interactions online; and provides access to user-created online social activities groups.
Lincoln National Corporation (NYSE:LNC), ended its Monday’s trading session with 0.04% gain, and closed at $48.16.
Lincoln Financial Group (LNC) declared the next generation of its Lincoln AssetEdge® Variable Universal Life (VUL) insurance offering, featuring expanded investment options for tax-efficient cash accumulation with downside protection, and supplemental income potential, as well as life insurance protection.
In addition to offering clients an income tax-free death benefit and more than 80 market-driven variable investment options from the Lincoln Elite Series of Funds for maximum growth potential, Lincoln AssetEdge® VUL now offers three indexed accounts for moderate growth potential with guaranteed downside protection, and a fixed account for more conservative, predictable growth. Clients have the ability to adjust investment allocations over time to align with changing needs and financial goals.
Lincoln National Corporation, through its auxiliaries, engages in multiple insurance and retirement businesses in the United States. It operates through Annuities, Retirement Plan Services, Life Insurance, and Group Protection segments.
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