During Thursday’s Morning trade, Shares of Cliffs Natural Resources Inc. (NYSE:CLF), lost -7.24% to $3.91, hitting its lowest level.
Cliffs Natural Resources, said it intends to declare second-quarter 2015 financial results before the U.S.-market open Wednesday, July 29, 2015.
The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to talk about the results.
Cliffs Natural Resources Inc., a mining and natural resources company, produces iron ore and metallurgical coal. It operates five iron ore mines that produces iron ore pellets in Michigan and Minnesota; Koolyanobbing complex situated in northeast of the town of Southern Cross, which produces lump and fines iron ore; and two metallurgical coal mines located in Alabama and West Virginia.
Shares of The Western Union Company (NYSE:WU), declined -4.76% to $19.42, during its current trading session.
As part of its continued commitment to the Mexico market, The Western Union Company, a leader in global payment services, and state-owned Banco del Ahorro Nacional y Servicios Financieros, Sociedad Nacional de Crédito, Institución de Banca de Desarrollo (BANSEFI), declared a contract to expand access to inbound money transfer services under Western Union®, Vigo® and Orlandi ValutaSM brands throughout the country.
This new agreement will allow all Western Union and BANSEFI customers to receive money transfers in more than 471 BANSEFI locations in 32 States, expanding Western Union’s network in Mexico, which presently has more than 10,000 Agent locations.
As a Development Banking Institution of the Mexican Federal Government, BANSEFI has a social banking approach to serving its nearly 14 million users. In addition to the money transfer inbound services by Western Union, BANSEFI offers tools for personal savings, life insurance and financial services. The money transfer service will be accessible in BANSEFI branches from 9:00 to 16:30 Monday through Friday.
The Western Union Company provides money movement and payment services worldwide. The company operates in three segments: Consumer-to-Consumer, Consumer-to-Business, and Business Solutions. The Consumer-to-Consumer segment offers cash money transfer services involving walk-in agent locations.
Finally, Centene Corp. (NYSE:CNC), lost -5.59%, and is now trading at $76.38, hitting its highest level.
Centene Corporation, and Health Net, Inc. (HNT) declared that the Boards of Directors of both companies have unanimously approved a definitive agreement under which Centene will acquire all of the shares of Health Net in a cash and stock transaction valued at about $6.8 billion, counting the assumption of about $500 million of debt.
The combination of Centene and Health Net would create a leading diversified multi-national healthcare enterprise with more than ten million members across the country and estimated 2015 pro forma premium and service revenues of about $37 billion. Centene is predictable to continue to deliver attractive growth by offering a more comprehensive and scalable portfolio of innovative solutions focusing on uninsured and under-insured individuals, counting participation in Medicare Advantage, TRICARE, and Veterans Affairs programs. The companies believe that the addition of Health Net’s high-quality Medicare platform to Centene’s Medicaid programs provides an opportunity for additional growth across the combined company’s markets. Health Net’s demonstrated commitment to risk-based provider arrangements is reflective of the market shift from volume to value and is anticipated to enhance Centene’s leading position in high quality, low cost access to government-sponsored programs. With raised scale and diversification, Centene anticipates to deploy its full portfolio of specialty services and provide an integrated offering that benefits its members, providers and other stakeholders.
Under the terms of the agreement, Health Net shareholders would receive 0.622 shares of Centene common stock and $28.25 in cash for each share of Health Net common stock. Based on Centene’s closing stock price on July 1, 2015, the implied consideration of $78.57 per share represents a premium of about 21% over Health Net’s closing stock price on July 1, 2015, and of about 26% on June 1, 2015. Upon completion of the transaction, Centene shareholders would own about 71% of the combined entity, with Health Net shareholders owning about 29%. The transaction is predictable to be significantly accretive to Centene’s diluted earnings per share in the first year following closing.
Centene Corporation operates as a diversified, multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. It operates in two segments, Managed Care and Specialty Services.
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