During Tuesday’s Current trade, Shares of Endo International, (NASDAQ:ENDP), lost -5.62% to $63.47.
Endo International, declared recently that it has accomplished the formerly declared acquisition of a broad portfolio of branded and generic injectable and established products focused on pain, anti-infectives, cardiovascular and other specialty therapeutics areas from a partner of Aspen Holdings, a leading publicly-traded South African company that supplies branded and generic products in more than 150 countries.
The transaction is predictable to meaningfully expand Endo’s presence in South Africa by adding a product portfolio that generated about $28 million of revenue during Aspen’s fiscal year ended June 30, 2014, in addition to a sizeable pipeline of products in various phases of development that are predictable to launch over the next several years. For 2015, Endo anticipates that EBITDA to be generated by the attained portfolio will translate into a transaction multiple of less than 10 times EBITDA on a post-synergized basis.
Endo International plc, a specialty healthcare company, focuses on branded and generic pharmaceuticals and devices worldwide. It operates through four segments: U.S. Branded Pharmaceuticals, U.S. Generic Pharmaceuticals, Devices, and International Pharmaceuticals.
Shares of Philip Morris International Inc. (NYSE:PM), decline -0.12% to $81.61, during its current trading session.
Philip Morris International, declared that PT HM Sampoerna Tbk., an indirect partner of PMI in which PMI has to date held a 98.18% interest through PT Philip Morris Indonesia (“PMID”), recently revealed on its web site the pricing details for its ongoing rights issue. The purpose of the Rights Issue is to comply with the Indonesian Stock Exchange’s (“IDX”) mandatory requirement of a minimum threshold for public shareholding. Following IDX regulations, all listed public companies are required to have at least 7.5% of their total paid-up capital owned by the public (not taking into account controlling or principal shareholders) by January 30, 2016. As advised by Sampoerna on its website, the exercise price for the rights has been set at Rp. 77,000, a 1.349% premium to the closing price on the IDX of Rp. 75,975 on September 30, 2015. In connection with the Rights Issue, PMID is selling 264,209,711 of the rights to which it is entitled in a placement to institutional investors; PMID is subscribing to the remaining 600,640 rights to which it is entitled. The placement price for the shares underlying PMID’s rights is the same as the exercise price for the rights. Delivery of the rights shares sold in the placement is predictable to take place on or about October 26, 2015. The total net proceeds to Sampoerna from the Rights Issue, after deducting related commissions, professional fees and other transaction-related expenses, amount to about $1.4 billion*, which Sampoerna intends to use for general corporate purposes and working capital purposes, counting the repayment of working capital facilities. After completion of the Rights Issue, PMID will own 92.50% of the issued and outstanding share capital of Sampoerna.
Philip Morris International Inc. is a holding company engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States.
FireEye Inc (NASDAQ:FEYE), during its Tuesday’s current trading session loss -3.29% to $30.85, after analysts at Piper Jaffray downgraded the stock to “neutral” from “overweight”.
The firm also slashed the cybersecurity company’s price target to $37 from $60 due to raised competition.
The company’s new price target represents a potential 16% upside from the stock’s current price.
FireEye, Inc. provides cybersecurity solution for detecting, preventing and resolving cyber-attacks. The Company’s cybersecurity solutions combine its virtual-machine technology, threat intelligence and security in a suite of products and services.
Finally, Jacobs Engineering Group Inc (NYSE:JEC), gain 1.17%, to $39.79.
Jacobs Engineering Group, declared recently it was awarded a contract to provide lean consulting services to Network Rail in the United Kingdom.
Jacobs’ company officials did not disclose the contract value.
Working closely with the Bourton Group, Navitas Project Solutions and Rubicon Wigzell, Jacobs is providing support with lean methodologies and tools.
Working closely with Highways England’s Lean Division since 2010 and its supply chain, over that period the collective team has assisted the delivery of in excess of $140 million (£90 million) of cost efficiencies with associated improvements in time, quality and safety.
Jacobs Engineering Group Inc. is a technical professional services firm. The Company provides a diverse range of technical, professional, and construction services to a number of industrial, commercial, and governmental clients.
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