 | Your browser does not display parts of our website correctly. We use the latest technology available to provide you with a high quality experience; please upgrade your browser to its latest version to view the contents properly: |
Stockwinners Market Radar for July 04, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
| DRYS | Hot Stocks19:46 EDT DryShips named in lawsuit seeking to suspend share issuances - DryShips announced that it and its CEO and chairman of the board, George Economou, have been named as defendants in a lawsuit filed in High Court of the Republic of the Marshall Islands alleging, in relevant part, breaches of fiduciary duty, unjust enrichment, and conflict of interest. The plaintiff seeks, among other things, a temporary restraining order and preliminary injunction to suspend any further issuances of new common shares by the company at a price per share below the price specified by the plaintiff in the complaint, as well as certain other compensatory and punitive damages specified in the complaint. DryShips said it and its management have reviewed the complaint and the motion and "believe them to be without merit and will contest them vigorously."
|
| ICL | Hot Stocks17:18 EDT ICL says Israel make take legal action on water spill - ICL announced that it is continuing its efforts to remedy the immediate environmental effect and damages resulting from the phosphogypsum water spill from the ICL Rotem facility on June 30, as well as to assess the environmental impact resulting from the spill. "Such efforts are made in close coordination and full cooperation with Israeli governmental and regulatory bodies, including the Ministry of Environmental Protection and Israel's Nature and National Parks Authority," the company said. In addition, ICL stated that at a preliminary hearing at the Southern District of the MoEP held on July 3, representatives of ICL and ICL Rotem were informed that the MoEP is weighing the possibility of taking legal action, including administrative and criminal action. ICL said it will cooperate fully with the authorities regarding any such proceedings. It added, "Following initial assessments by the Company and its insurance brokers, ICL believes that its overall short term direct financial exposure resulting from the spill will be relatively modest. Events such as the spill which occurred are typically covered by insurance which the Company maintains, with an insignificant deductible payment on the part of the Company."
|
| MORE | Hot Stocks15:04 EDT Monogram Residential Trust acquired for $12 per share in cash - Monogram Residential Trust announced that it has entered into a definitive merger agreement to be acquired by a newly formed perpetual life fund, Greystar Growth and Income Fund, in a transaction valued at approximately $3B, including debt to be assumed or refinanced. Under the terms of the merger agreement, which was unanimously approved by board, Monogram's stockholders will receive $12.00 per share in cash. This represents a premium of approximately 22% to Monogram's unaffected closing stock price on July 3. The $3B aggregate transaction value includes Monogram's share of its two institutional co-investment joint ventures with PGGM and NPS. The PGGM joint venture will be restructured, and the joint venture interests held by NPS will be purchased by Greystar pursuant to a separate assignable purchase and sale agreement for approximately $0.5B, subject to certain adjustments at closing, including payment of the NPS joint venture's share of debt to be assumed or refinanced in connection with the transaction. The transaction is expected to close in the second half of 2017 and is subject to approval by Monogram's stockholders and other customary closing conditions. The transaction is not contingent on receipt of financing by Greystar.
|
| PLD | Hot Stocks08:20 EDT Prologis acquires partner's interest in Brazil portfolio for $362M - Prologis announced that it has entered into an agreement to acquire its partner's interest in its Brazil portfolio for $362M. Upon close of the transaction, Prologis will own 100% of Prologis CCP and rename the business to Prologis Brazil. The transaction is subject to customary closing conditions, including applicable regulatory approvals, and is expected to close in the second half of 2017. Prologis "CCP is a joint venture between Prologis and Cyrela Commercial Properties. Prologis CCP is one of the leading providers of industrial real estate in Brazil's primary markets and currently owns and operates approximately 8.8 million square feet," the company said.
|
| MSLI | Hot Stocks08:18 EDT Merus Labs, Norgine receive Spanish anti-trust approval - Merus Labs and Norgine announced that Norgine's proposed acquisition of all of the issued and outstanding common shares of Merus by way of plan of arrangement has been approved by the Spanish anti-trust authority, the Comision Nacional de los Mercados y la Competencia. This was the only regulatory approval required to be obtained as a condition to completion of the arrangement. On July 10, Merus will hold a special shareholder meeting whereby shareholders will be asked to approve the arrangement. Subject to approval of the arrangement by shareholders holding at least 66 2/3% of the shares, court approval and certain other closing conditions customary for transactions of this nature, it is anticipated that the arrangement will be completed on or about July 17.
|
