On Tuesday, Shares of Royal Dutch Shell plc (ADR) (NYSE:RDS.A), gained 2.11% to $44.43.
Royal Dutch Shell plc, published a circular and a prospectus for the recommended combination with BG Group plc (“BG”), ahead of a General Meeting, planned for 10:00 (Central European Time) on Wednesday 27 January 2016 at the Circustheater, Circusstraat 4, 2586 CW The Hague, The Netherlands. In addition, BG has published a scheme document ahead of its shareholder meetings.
Royal Dutch Shell plc operates as an independent oil and gas company worldwide. It operates through Upstream and Downstream segments. The company explores for and extracts crude oil, natural gas, and natural gas liquids. It also converts natural gas to liquids to provide fuels and other products; markets and trades natural gas; extracts bitumen from mined oil sands and converts it to synthetic crude oil; and generates electricity from wind energy.
Shares of Exelon Corporation (NYSE:EXC), inclined 0.35% to $27.52, during its last trading session.
Pepco Holdings Inc. (POM) and Exelon Corporation (EXC) are emphasizing the tangible affordability, reliability and sustainability benefits their merger will provide residents and others in the District as the Dec. 23 closing of the record nears in proceedings before the Public Service Commission of the District of Columbia (PSC).
“If the merger is accomplished, residents, businesses and organizations in the District will benefit from a stronger utility that will provide improved electric service, more affordable rates and more sustainability benefits,” said Donna Cooper, region president, Pepco.
Exelon Corporation, a utility services holding company, engages in the energy generation and delivery businesses in the United States. It owns electric generating facilities, such as nuclear, fossil, and hydroelectric generation facilities, in addition to wind and solar photovoltaic facilities.
Finally, Northern Tier Energy LP (NYSE:NTI), ended its last trade with 6.51% gain, and closed at $25.86.
Western Refining, Inc. (WNR) and Northern Tier Energy LP (NTI) jointly declared that they have reached a merger agreement whereby Western will acquire all of NTI’s outstanding common units not already owned by Western.
Under the terms of the merger agreement, NTI unit holders will receive $15.00 in cash and 0.2986 of a share of WNR common stock for each NTI common unit held. Using the WNR 20-day volume weighted average price as of October 23, 2015 (the last trading day before WNR made its initial offer to acquire all of NTI’s outstanding common units) results in an implied consideration of $28.34 for each NTI unit. This represents an 18% premium to the 20-day volume weighted average price of NTI’s common unit price as of October 23, 2015.
As an alternative to the cash and stock consideration, each NTI unitholder may elect to receive, per NTI unit, either $26.06 in cash or 0.7036 of a share of WNR. The election will be subject to proration to ensure that the aggregate cash paid and WNR common stock issued in the merger will equal the total amount of cash and number of shares of WNR common stock that would have been paid and delivered if all NTI unitholders received $15.00 in cash and 0.2986 of a share of Western common stock per NTI common unit. Upon completion, NTI unitholders are predictable to own about 15% of WNR. The transaction is predictable to close in the first half of 2016.
Northern Tier Energy LP, an independent downstream energy company, engages in refining, retail, and pipeline operations in the United States. It operates through two segments, Refining and Retail. The Refining segment offers refined products, counting gasoline, diesel, jet fuel, and asphalt to resellers and consumers primarily in the Petroleum Administration for Defense District II region.
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