On Monday, Mallinckrodt PLC (NYSE:MNK)’s shares declined -6.79% to $61.40.
Mallinckrodt plc (MNK), a leading specialty biopharmaceutical company, declared that it has accomplished its acquisition of Therakos, Inc., from The Gores Group at a purchase price of about $1.325 billion. The Therakos acquisition further broadens Mallinckrodt’s footprint in hospitals – expanding its reach into immunotherapy through extracorporeal photopheresis (ECP) and extending the company’s presence from multimodal surgical pain administration and critical care respiratory therapies in neonatal intensive care units to comprise innovative therapies that harness the patient’s own immune systems to fight disease and improve health.
The all-cash transaction is predictable to be accretive by no less than $0.10 per share to Mallinckrodt’s adjusted diluted fiscal 2016 earnings and increasingly accretive thereafter. The company anticipates fiscal 2015 net sales for Therakos products of $185 million to $195 million, and anticipates high single-digit growth off that base going forward.
Mallinckrodt Public Limited Company develops, manufactures, markets, and distributes specialty pharmaceutical products and medical imaging agents worldwide.
Willbros Group Inc (NYSE:WG)’s shares gained 30.99% to $1.86.
TRC Companies, Inc. a recognized leader in engineering, consulting and construction administration services to the energy, environmental and infrastructure markets, declared recently that it has reached a contract to acquire the Professional Services business segment of Willbros Group ( WG) for $130 million in an all-cash transaction. The transaction is subject to customary closing conditions, counting expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, and is predictable to close during the second quarter of TRC’s fiscal 2016. The transaction does not require a vote of the stockholders of Willbros Group or TRC.
Headquartered in Tulsa, Oklahoma, Professional Services has about 850 employees in nine offices nationwide. It has a premier reputation for providing a wide array of innovative engineering, EPC/EPCM, field solutions and integrity services to the oil and gas transmission and midstream market, in addition to at government facilities. The segment’s 2014 gross revenue was about $209 million, and TRC anticipates the acquisition to be accretive to earnings (not taking into account transaction fees and integration expenses) during fiscal 2017.
Willbros Group, Inc., together with its auxiliaries, operates as an energy infrastructure contractor serving the oil, gas, refining, petrochemical, and power industries in the United States and internationally.
At the end of Monday’s trade, Adobe Systems Incorporated (NASDAQ:ADBE)‘s shares surged 2.20% to $85.84.
At Adobe MAX 2015, the world’s leading creativity conference, Adobe (ADBE) released findings from a survey of more than 2,000 U.S. consumers that shows standards for digital content are rising as people are inundated with content across multiple devices. The report, “The State of Content: Expectations on the Rise,” highlights consumers’ changing attitudes about content, counting a growing skepticism about online content, and reveals a new imperative for brands and creators to develop content that is well-designed, easily accessible and authentic.
According to the study, consumers are embracing content across screens. They are accessing an average of 12 sources of content through an average of six different devices, with smartphones ranking as the most frequently used device by Millennials daily. Eighty-eight percent of consumers report they “multiscreen,” using an average of nearly three devices simultaneously. Forty percent find this deluge of information distracting.
Barrage of Content Leaves Consumers Skeptical
The research shows that perceptions about the accuracy of content are under attack as people focus on entertainment value to break through the noise.
- More than one-third of Millennials value entertainment over accuracy and more than 40 percent of Millennials don’t regularly fact-check content they are sharing.
- Consumers are increasingly questioning the authenticity of content; more than 60 percent question whether a news article is biased, a photo has been altered or the author has been paid or incented to post a positive review.
Adobe Systems Incorporated is a diversified software company worldwide. It operates in three segments: Digital Media, Digital Marketing, and Print and Publishing.
NiSource Inc. (NYSE:NI), ended its Monday’s trading session with 1.22% gain, and closed at $19.05.
Northern Indiana Public Service Company (NIPSCO), a NiSource Inc. (NI) company, presented a request seeking to adjust electric base rates – a change that must go through a thorough regulatory review process and wouldn’t take effect until mid-2016.
Since the company’s last request to change base rates five years ago, it costs more to produce and distribute power to customers, and NIPSCO continues to make considerable investments to improve service to customers.
NIPSCO’s request, which is decided by the Indiana Utility Regulatory Commission (IURC), seeks to find a balance between new rates that are fair to both customers and the utility. The request comprises evidence to support the requested enhance and demonstrates how the dollars will be used fully to the benefit of customers. It also satisfies the terms of a previous requirement to file a case by the end of 2015.
NiSource Inc., an energy holding company, provides natural gas, electricity, and other products and services in the United States. The company offers natural gas service and transportation to residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and provides wholesale and transmission transaction services.
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