On Tuesday, Patterson Companies, Inc. (NASDAQ:PDCO)’s shares inclined 3.10% to $51.55.
Patterson Companies, Inc. (PDCO) declared a definitive agreement to sell its medical business (Patterson Medical) to Madison Dearborn Partners (MDP), a leading private equity firm based in Chicago, for gross proceeds of about $715 million in cash. The sale is predictable to close in the fiscal second quarter, following the satisfaction of regulatory requirements and other customary closing conditions.
Earlier this year, Patterson Companies declared that it had retained BofA Merrill Lynch to explore the potential sale of the medical business. Recently’s declarement is the outcome of that process. In fiscal 2015, sales and EBITDA for the medical segment were $464.2 million and $67.2 million, respectively. Patterson intends to apply the net proceeds from the sale of its medical unit to reduce the debt it incurred to fund the formerly declared acquisition of Animal Health International, Inc.
Patterson Companies, Inc. distributes dental, veterinary, and rehabilitation supplies. Its Dental Supply segment offers consumable dental supplies; impression and restorative materials; hand pieces; hand instruments; sterilization products; anesthetics; infection control products; paper, cotton, and other disposable products; and toothbrushes and dental accessories.
KB Home (NYSE:KBH)’s shares gained 1.55% to $16.40.
KB Home (KBH), one of the nation’s largest and most recognized homebuilders, declared the grand opening of Falcon Landing, a new neighborhood of attractively-priced homes on the growing Culebra Road corridor, featuring great community amenities and abundant nearby outdoor recreation destinations.
Located near Loop 1604 and Highway 151, Falcon Landing’s proximity to Medina Lake and Government Canyon State Natural Area provides terrific access to a variety of outdoor activities, counting boating and hiking. The community itself has several planned amenities, such as a swimming pool, a children’s playscape and a picnic pavilion. There will also be a private park that is predictable to open in 2016.
KB Home operates as a homebuilding company in the United States. It constructs and sells various homes, counting attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, move-up, and active adult homebuyers under the name KB Home.
At the end of Tuesday’s trade, LyondellBasell Industries NV(NYSE:LYB)‘s shares dipped -1.31% to $86.18.
LyondellBasell (LYB), one of the world’s largest plastics, chemical and refining companies, declared that YPF S.A. and Grupo Inversor Petroquimica S.L. have accepted an offer to purchase LyondellBasell’s Argentina-based, wholly-owned partner Petroken Petroquimica Ensenada S.A. (Petroken). The sale is predictable to close in late 2015 following Brazilian antitrust authority (CADE) approval. The transaction is valued at $145 million on a debt and cash free basis. Based on working capital estimates as of June 30, 2015, predictable cash proceeds are $162 million. Petroken operates a 180 kiloton polypropylene plant in Ensenada and is a leading polypropylene producer in Argentina.
LyondellBasell Industries N.V. operates as a manufacturer of chemicals and polymers, refiner of crude oil, producer of gasoline blending components, and developer and licensor of technologies for production of polymers. The company operates in five segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Refining; and Technology.
Juno Lighting LLC (NASDAQ:JUNO), ended its Tuesday’s trading session showed no change and closed at $41.56.
Juno Therapeutics Inc (JUNO) might not be turning a profit yet, but that’s no problem for CEO Hans Bishop’s personal bottom line.
Bishop is the 11th highest-paid CEO in the country, according to Bloomberg’s Pay Index, a daily ranking of the 100 top-paid executives. His pay package was worth $88.2 million at the end of 2014, Bloomberg stated Thursday, in a combination of salary, stock options and restricted shares. That was worth $7.3 million before Juno’s initial public offering in December.
Juno isn’t the only biotech to show up near the top of the list. CEO pay at Santa Monica, Calif.-based Kite Pharma and Waltham, Mass.-based Radius Health Inc. topped $95 million and $33.5 million, respectively.
Juno and Kite develop immunotherapy treatments for cancer. That’s a field investors have been excited to jump into in recent years. Immunotherapy reprograms a patient’s T cells and then infuses them back into the body, giving the immune system a boost to battle the cancer.
This treatment has been heralded in recent years as a breakthrough alternative to harsher methods, such as chemotherapy and radiation.
In small clinical trials, one of Juno’s drug candidates has achieved a 90 percent remission rate in a type of blood cancer.
Juno Therapeutics, Inc., a biopharmaceutical company, engages in developing cell-based cancer immunotherapies. The company develops cell-based cancer immunotherapies based on its chimeric antigen receptor and T cell receptor technologies to genetically engineer T cells to recognize and kill cancer cells.
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