On Monday, Shares of Eaton Vance Corp (NYSE:EV), gained 1.57% to $34.23.
The Eaton Vance municipal income closed-end funds declared, that their Boards of Trustees have authorized tender offers to purchase up to 100% of their outstanding auction preferred shares at a price per share equal to the below-stated percentage of the APS liquidation preference of $25,000 per share, plus any unpaid APS dividends accrued through the tender date.
Each Fund’s tender offer will be conditional upon the successful closing of replacement financing and certain other conditions as will be set forth in the Fund’s offer to purchase and related letter of transmittal. The complete terms and conditions of the tender offer will be set forth in the Fund’s tender offer materials, which will be filed with the Securities and Exchange Commission (“SEC”) and distributed to APS holders.
Eaton Vance Corp., through its auxiliaries, engages in the creation, marketing, and administration of investment funds in the United States. It also provides investment administration and counseling services to institutions and individuals.
Shares of Flotek Industries Inc (NYSE:FTK), inclined 6.93% to $18.20, during its last trading session.
Flotek Industries, this morning declared a technical partnership with Ely & Associates (“Ely”), a leading international stimulation and completion consulting firm, under which Flotek and Ely will provide Flotek CnF® completion chemistry clients a suite of stimulation and completion consulting services to further extend Flotek’s reach as the leading North American completion chemistry and consulting services concern.
Through the partnership, Flotek will package Ely’s world-class reservoir stimulation and completion consulting services with the Company’s CnF® customized completion chemistries for those clients that purchase CnF® chemistries directly through The Flotek Store™.
Flotek Industries, Inc. develops and supplies oilfield products, services, and equipment to the oil, gas, and mining industries in the United States and internationally. Its Energy Chemical Technologies segment designs, develops, manufactures, packages, and markets specialty chemicals used in oil and gas well drilling, cementing, completion, stimulation, and production.
At the end of Monday’s trade, Shares of Kraton Performance Polymers Inc (NYSE:KRA), gained 3.04% to $18.62.
Kraton Performance Polymers, declared that it has reached a definitive agreement to acquire all of the capital stock of privately held Arizona Chemical Holdings Corporation for a cash purchase price of $1.37 billion. Arizona Chemical is a leading global producer of high-value performance products and specialty chemicals derived from non-hydrocarbon, renewable raw materials. Arizona Chemical’s end use market exposure is highly complementary with that of Kraton, particularly in markets such as adhesives, roads and construction, coatings and oilfield chemicals.
“This transformational acquisition will extend Kraton’s technology and market diversification, while substantially increasing profitability and free cash flow, creating a more robust platform for growth and value creation for our stockholders,” said Kevin M. Fogarty, Kraton’s President and Chief Executive Officer. “Our stockholders will benefit from identified pre-tax synergies of $65 million, which we expect to achieve by 2018. Arizona Chemical has a stable and attractive margin profile, with adjusted EBITDA margins in excess of 20% over the past five years and an attractive cash flow profile. On a combined basis we expect to generate free cash-flow of more than $450 million over the first three years of combined operations, which will be available for debt reduction and allocation to stockholders.”
Kraton Performance Polymers, Inc. produces and sells styrenic block copolymers (SBCs) and other engineered polymers in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers performance products comprising unhydrogenated SBCs, which are primarily used in paving, roofing, packaging and industrial adhesives, industrial, and other applications; and specialty polymers comprising of hydrogenated SBCs that are used in lubricant additives, polymer modification, personal care, cable gels, and adhesives and coatings, in addition to in medical, industrial, consumer, and other applications.
Finally, Alon USA Energy, Inc. (NYSE:ALJ), ended its last trade with 2.38% gain, and closed at $18.92.
Alon USA Energy, declared that it will release its third quarter 2015 financial results on Monday, November 2, 2015 after the market closes. In conjunction with the release, Alon has planned a conference call, which will be broadcast live over the Internet on Tuesday, November 3, 2015 at 11:00 a.m. Eastern Time (10:00 a.m. Central Time).
Alon USA Energy, Inc. engages in refining and marketing petroleum products, primarily in the South Central, Southwestern, and Western regions of the United States. It operates in three segments: Refining and Marketing, Asphalt, and Retail.
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