On Monday, American Electric Power Corporation Inc (NYSE:AEP)’s shares declined - 1.28% to $55.67, after American Electric Power Corporation (AEP), has received notification of an unsolicited “mini-tender” offer by TRC Capital Corporation, a private Canadian investment corporation, to purchase up to 2 million shares of AEP’s ordinary stock, or about 0.41 percent of the corporation’s outstanding shares, at a price of $53.45 per share. TRC Capital’s offer price is 4.52 percent below the $55.98 closing price of AEP shares on April 8, 2015, the day before the offer commenced.
TRC Capital has made similar mini-tender offers for shares of other companies. Mini-tender offers are designed to seek less than 5 percent of a corporation’s outstanding shares, thereby avoiding many disclosure and procedural requirements of the U.S. Securities and Exchange Commission (SEC). As a result, mini-tender offers do not provide investors with the same level of protections offered by larger tender offers under U.S. securities laws. AEP is in no way associated with TRC Capital, its mini-tender offer or the offer documentation.
AEP urges investors to obtain current market quotations for their shares of ordinary stock, consult with their financial advisors and exercise caution with respect to TRC Capital’s offer. Shareholders who may already have tendered their shares may withdraw them by providing the written notice described in the TRC Capital offering documents preceding to the expiration of the offer, presently planned for 12:01 a.m. Eastern Daylight Time, May 8, 2015.
American Electric Power Corporation, Inc., a public utility holding corporation, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers. The corporation generates electricity using coal and lignite, natural gas, nuclear, and hydroelectric and other energy sources.
AES Corp (NYSE:AES)’s shares dropped -1.74% to $12.97, during the last trading session on Monday, after AES Corp (AES), will host a conference call on Monday, May 11, 2015 at 9:00 a.m. Eastern Daylight Time (EDT) to review its first quarter 2015 financial results.
The AES Corporation operates as a diversified power generation and utility corporation. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The corporation also owns and/or operates utilities to generate or purchase, distribute, transmit, and sell electricity to end-user customers in the residential, commercial, industrial, and governmental sectors; and generates and sells electricity on the wholesale market.
At the end of Monday’s trade, Comcast Corporation (NASDAQ:CMCSA)‘s shares dipped -1.72% to $58.78, after Comcast Hometown Network (CHN) is a regional cable network produced by Comcast and accessible in Northern California, Central California and Santa Barbara County on Digital Channel 104.
Comcast Hometown Network, Comcast’s regional cable network covering Northern and Central California, declared that it will televise 30 LIVE Minor League Baseball games from the California League and the Pacific Coast League in 2015. The telecasts will start on Thursday, April 16th at 7:00 p.m. with the San Jose Giants home opener against the Bakersfield Blaze.
CHN’s Upside, a show that covers positive news and events, kicks off coverage of the Giants as they face off against the Blaze. Ongoing its focus on positive stories, this episode will maintain its optimistic outlook while giving a preview of the season to come, introducing viewers to the CHN on-camera personalities and more leading straight into CHN’s coverage of the baseball game.
All of the Comcast Hometown Network games will be broadcast LIVE from either Chukchansi Park, home of the Fresno Grizzlies or San Jose Municipal Stadium, home of the San Jose Giants. The telecasts will also be accessible via Comcast’s popular On Demand platform, which allows viewers to pause, rewind and fast forward games. To view the games via On Demand, Comcast digital customers should tune to Channel 1 (On Demand) and select Get Local > Comcast Hometown > San Jose Giants or Get Local > Comcast Hometown > Fresno Grizzlies.
“We are proud to partner with the San Jose Giants and the Fresno Grizzlies once again,” said Jeff Giles, Director of Comcast Hometown Network. “This year, Upside on Channel 104 gives our viewers a sneak peek into the season right before the first pitch is thrown. It’s going to be an exciting season and CHN is the place to be for local fans to see their homegrown champions play.”
Comcast Corporation operates as a media and technology corporation worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice services to residential and business customers under the XFINITY brand name.
Canadian National Railway (USA) (NYSE:CNI), ended its Monday’s trading session with -1.71% loss, and closed at $65.93, after Evergreen Shipping Agency (America) Corp. declared that it has named CN (CNR.TO) (CNI) as its 2014 Railroad Corporation of the Year in recognition of CN’s ” consistent high level of performance.”
Evergreen Shipping Agency (America) Corp. serves as North American General Agent for Evergreen Line. Evergreen is a global ocean carrier that serves all continents with container ships. Among its many trade routes, Evergreen Line is the major containerized shipping corporation serving the east coast of Asia and west coast of North America. The corporation operates more than 150 container ships calling on 240 ports worldwide in about 80 countries.
Roy Amalfitano, president of Evergreen Shipping Agency (America) Corp., said: “CN’s consistent high level of performance, particularly in comparison to its competitors, has earned CN this recognition. Evergreen appreciates and recognizes CN’s excellence in quality, service and support. We thank CN and its employees and encourage the corporation to continue to provide the quality of service that we are recognizing now and going forward.”
JJ Ruest, CN executive vice-president and chief marketing officer, said: “CN is honoured by Evergreen’s award, which recognizes our clear focus on supply chain partnershipand making our mutual customers more competitive in their end markets.”
Evergreen Line discharges and loads containers for CN at Port Metro Vancouver. CN hauls Evergreen Line traffic between the port and major markets in North America, counting Toronto, Montreal, Chicago and Detroit.
Canadian National Railway Corporation, together with its auxiliaries, engages in rail and related transportation business in North America. It offers transportation services that comprise rail, intermodal container, and trucking services; and supply chain solutions, counting warehousing and distribution, cargoflo, logistics parks, freight forwarding, customs brokerage service, industrial development, and marine services.
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