On Friday, Strategic Hotels and Resorts Inc (NYSE:BEE)’s shares declined -0.07% to $14.23.
Planned Hotels & Resorts, Inc. (BEE) declared the completion of the acquisition of the Company by associates of Blackstone Real Estate Partners VIII L.P. (“Blackstone”). The total transaction value is about $6 billion.
Following the transaction, holders of shares of common stock of Planned Hotels & Resorts, Inc. will be entitled to receive $14.25 in cash, without interest, for each share of the common stock they own, and holders of membership units of the Company’s partner, Planned Hotel Funding, L.L.C. (other than the Company), will be entitled to receive $14.25 in cash, without interest, for each unit they own. As a result of the completion of the acquisition, the Company’s common stock will cease trading on the New York Stock Exchange.
J.P. Morgan acted as financial advisor to Planned Hotels & Resorts, Inc. J.P. Morgan and Duff & Passists offered fairness opinions to the Company’s Board of Directors in connection with the transaction. Sidley Austin LLP acted as legal advisor to Planned Hotels. Citibank, Deutsche Bank and Goldman Sachs acted as financial advisors to Blackstone. Simpson Thacher & Bartlett LLP acted as legal advisor to Blackstone.
Planned Hotels & Resorts, Inc is an equity real estate investment trust. The firm invests in the real estate markets of the United States. It is owner and asset manager of the highest quality portfolio of upper-upscale and luxury hotels and resorts.
Wal-Mart Stores, Inc. (NYSE:WMT)’s shares dropped -0.35% to $59.35.
Walmart knows customers want to save not just money, but also time. Recently, the retailer introduced Walmart Pay – a fast, easy and secure way for customers to pay with their smartphones in Walmart stores.
Built with the aim of improving how customers check out and dramatically expanding mobile payment access, Walmart Pay is like no other mobile payments solution accessible recently. With this launch, Walmart becomes the only retailer to offer its own payment solution that operates with any iOS or Android device*, at any checkout lane, and with any major credit, debit, pre-paid or Walmart gift card – all through the Walmart mobile app. The mobile payment feature will be introduced in select stores starting this month, with a nationwide launch to be complete by the first half of next year.
Twenty two million customers actively use the Walmart app each month and it ranks among the top three retail apps in the Google and Apple app stores. The Walmart app enhances the shopping experience in Walmart stores with features counting checking in to pick up an online order at a Walmart store, refilling pharmacy prescriptions and finding an item’s store location.
Wal-Mart Stores, Inc. operates retail stores in various formats worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam’s Club. It operates discount stores, supermarkets, supercenters, hypermarkets, warehouse clubs, cash and carry stores, home improvement stores, specialty electronics stores, restaurants, apparel stores, drug stores, and convenience stores, in addition to retail Websites, such as walmart.com and samsclub.com.
At the end of Friday’s trade, Fiserv Inc (NASDAQ:FISV)‘s shares dipped -2.02% to $91.74.
Fiserv, Inc. (FISV), a leading global provider of financial services technology solutions, declared that PCM Credit Union, based in Green Bay, Wisconsin, is ongoing to experience raised member adoption of CardValet® from Fiserv as the start of the holiday shopping season starts. The CardValet mobile app provides users with greater protection from debit card fraud, allowing them greater control of their cards at the touch of a button.
PCM, a $195 million asset credit union leveraging the CUSA® core platform from Fiserv, selected CardValet so that its more than 11,000 members are able to define when, where and how their payment cards are used. CardValet allows users to set easy “on/off” controls. When the card is “on,” members can make purchases according to their usage preferences, and when the card is “off,” no transactions are approved. This control is especially useful when cards are not in use or have been lost or stolen. Members can restrict types of purchases, set spending caps and limit the geographical area where the card can be used – all through their mobile devices.
“We are providing CardValet to our membership, so they have even more ways to make decisions about how they want to use their debit cards,” said Cathy Becks, PCM Credit Union Executive Vice President. “If you know you won’t use your card for big purchases you can set a threshold limit, meaning your card will be declined for any transaction over that amount. If you change your mind, you simply log in from your mobile device and change the threshold amount in store to make the purchase.”
Fiserv, Inc., together with its auxiliaries, provides financial services technology worldwide. The company’s Payments and Industry Products segment provides debit, credit, and prepaid card processing and services; electronic bill payment and presentment services; Internet and mobile banking software and services; person-to-person payment services; and other electronic payments software and services.