On Thursday, Shares of Cameron International Corporation (NYSE:CAM), gained 5.47% to $63.21, as Schlumberger Limited and Cameron jointly declared a definitive merger agreement in which the companies will combine in a stock and cash transaction. The agreement was unanimously approved by the boards of directors of both companies.
Under the terms of the agreement, Cameron shareholders will receive 0.716 shares of Schlumberger common stock and a cash payment of $14.44 in exchange for each Cameron share.
Based on the closing stock prices of both companies on August 25, 2015, the agreement places a value of $66.36 per Cameron share, representing a 37.0% premium to Cameron’s 20-day volume weighted average price of $48.45 per share, and a 56.3% premium to Cameron’s most recent closing stock price of $42.47 per share. Upon closing, Cameron shareholders will own about 10% of Schlumberger’s outstanding shares of common stock.
Cameron International Corporation provides flow equipment products, systems, and services worldwide. The company’s Subsea segment offers integrated solutions, products, systems, and services to the subsea oil and gas market, counting integrated subsea production systems involving wellheads, subsea trees, manifolds and flowline connectors, and subsea processing systems.
Shares of Southern Company (NYSE:SO), inclined 0.69% to $43.91, during its last trading session.
Building on an industry-leading commitment to protect and preserve wildlife, Southern Company, in partnership with the National Fish and Wildlife Foundation (NFWF) and other public and private partners, recently declared the new Gulf Coast Conservation Grants Program (GCCGP).
The program will propel the work of 29 grant recipients across the United States – five of which are within the Southern Company service territory – that will specifically focus on assisting to restore and protect nearly 100 miles and 500 acres of coastal bird populations through monitoring, enhancing important habitat and implementing best administration practices.
This initial round of grants supports GCCGP’s broader work to enhance coastal watersheds and bolster priority fish and wildlife populations from Texas to Florida. Southern Company will focus on restoring and maintaining the ecology of coastal bird species spanning Mississippi, Alabama and the Florida panhandle.
Since 2003, Southern Company’s and NFWF’s Power of Flight program has restored more than 20,000 acres of high- priority habitat for bird species, counting the red-cockaded woodpecker, northern bobwhite, coastal birds and others. This effort has been made possible by the support of more than 80 grants totaling more than $21.1 million, counting matching funds.
GCCGP’s 29 national grants are being awarded through a public-private partnership with NFWF, the U.S. Department of Agriculture’s Natural Resources Conservation Services, Southern Company’s Power of Flight program, the SeaWorld Ocean Health Initiative, the Shell Marine Habitat Program and other sources.
The Southern Company, together with its auxiliaries, operates as a public electric utility company. It is involved in the generation, transmission, and distribution of electricity through coal, nuclear, oil and gas, and hydro resources in the states of Alabama, Georgia, Florida, and Mississippi.
Finally, Navios Maritime Acquisition Corporation (NYSE:NNA), ended its last trade with -3.54% loss, and closed at $3.27.
Senior Executives from Capital Product Partners, DHT Holdings, Tsakos Energy Navigation, Gener8 Maritime, Navios Maritime Acquisition, and Navios Maritime Midstream Partners will be participating on the Tanker Shipping Panel at Capital Link’s 7th Annual Global Commodities, Energy & Shipping Forum on Wednesday, September 16, 2015 at the Metropolitan Club in New York City which is organized in partnership with UBS.
The Forum will also feature several other major listed and private companies from the maritime, dry bulk commodities, energy and fuel oil sectors, in addition to analysts, investors, law firms and financiers.
Navios Maritime Acquisition Corporation provides marine transportation services worldwide. The company owns a fleet of crude oil, refined petroleum product, and chemical tankers.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
