Stockwinners Market Radar for January 05, 2020 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

20:47 EST Huntsman completes sale of chemical intermediates, surfactants businesses - Huntsman announced it has completed the sale of its chemical intermediates businesses, which includes PO/MTBE, and its surfactants businesses to Indorama Ventures in a transaction valued at approximately $2B, comprising a cash purchase price of approximately $1.93B, which includes estimated adjustments to the purchase price for working capital, plus the transfer of up to approximately $76M in net underfunded pension and other post-employment benefit liabilities. The final purchase price is subject to customary post-closing adjustments. The net cash proceeds are expected to be just under $1.6B.

14:53 EST Cellcom Israel appoints Avi Gabbay as CEO - Cellcom Israel announced that following its previous announcement as to the company's CEO resigning from office, the company's board of directors has appointed Avi Gabbay, as the company's CEO, effective January 19, 2020.

14:46 EST Hudson's Bay agrees to be taken private for C$11 per share - Hudson's Bay announced that it has entered into an amended arrangement agreement with a group of existing shareholders under which the HBC common shares held by the company's other shareholders will be acquired by HBC for $11.00 in cash per share. HBC and the Continuing Shareholders have also entered into a voting and support agreement with The Catalyst Capital Group, HBC's largest Minority Shareholder, under which Catalyst has agreed to vote the 32,236,878 common shares it controls in favor of the privatization transaction. HBC intends to hold the special meeting of shareholders to approve the privatization transaction in February 2020. The transaction requires the approval at the special meeting of at least 75% of the votes cast by shareholders, and a simple majority of the votes cast by common shareholders, excluding for this purpose votes attached to common shares required to be excluded pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. Votes cast by Catalyst will be included in determining whether approval is reached under both tests. In view of the increased consideration payable to Minority Shareholders, the company's operating results since October 20, 2019 and the period of time since the issuance of the independent valuation originally provided by TD Securities in connection with the privatization transaction, the Special Committee has requested that TD Securities prepare an updated valuation and fairness opinion. The Special Committee has also requested new fairness opinions from its financial advisors, J.P. Morgan and Centerview Partners, in respect of the increased consideration payable to Minority Shareholders. The updated valuation and new fairness opinions will be included in the amended management information circular that will be mailed to shareholders in advance of the special meeting of shareholders. In the event that TD Securities provides a formal valuation range of the common shares with a lower end that exceeds $11 per common share, or the new fairness opinions have not been received by February 14, 2020, HBC is entitled to terminate the Amended Arrangement Agreement. Catalyst is entitled to terminate the Support Agreement in certain circumstances, including in the event that the amended management information circular has not been filed on SEDAR and mailed to shareholders by February 14, 2020, does not include the new fairness opinions from the Special Committee's financial advisors, or does not include an updated valuation in which the opinion of TD Securities is that the lower end of the range of the fair market value of the common shares is equal to or less than $11 per common share. The Continuing Shareholders or the Company will be entitled to terminate the Amended Arrangement Agreement in the event that the Support Agreement is terminated.