First Quantum Minerals Announces Open Letter to Inmet Shareholders Responding to the Inmet Board's Directors' Circular
First Quantum Minerals Ltd. ("First Quantum") (TSX:FM)(LSE:FQM) today announced that it has posted on its website at www.first-quantum.com the following open letter to the holders of common shares of Inmet Mining Corporation ("Inmet") in response to Inmet's announcement that its Board of Directors has mailed its Directors' Circular relating to First Quantum's offer for the issued and outstanding Inmet common shares:
Dear Holders of Inmet Common Shares,
We note the announcement by Inmet on 22 January 2013 that the Inmet Board has sent to you its Directors' Circular responding to our offer for your Inmet shares.
Allergan, Inc. to Acquire MAP Pharmaceuticals, Inc.
Acquisition Enhances Allergan Leadership Position in Neurology and Migraine Specialty
Allergan, Inc. (AGN) and MAP Pharmaceuticals, Inc. (MAPP) today jointly announced that they have entered into a definitive merger agreement whereby Allergan will acquire 100% of the shares of MAP Pharmaceuticals for a price of $25.00 per share. MAP Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing new therapies in Neurology, including LEVADEX®, an orally inhaled drug for the potential acute treatment of migraine in adults. LEVADEX® is currently under review with the U.S. Food and Drug Administration (FDA).
Atlantic Tele-Network Announces Sale of U.S. Retail Wireless Business to AT&T
Atlantic Tele-Network, Inc. (ATNI), a telecommunications service provider to rural, niche and other under-served markets, today announced it has agreed to sell its domestic retail wireless business operated under the Alltel name by ATN’s subsidiary Allied Wireless Communications Corporation (“Allied”). AT&T will purchase the operations in an all-cash transaction valued at approximately $780 million.
Allied, based in Little Rock, Arkansas, serves approximately 585,000 customers in rural areas of six states – Georgia, North Carolina, South Carolina, Illinois, Ohio and Idaho, and generated revenues for the first nine months of 2012 of approximately $350 million. In ATN’s public filings, these operations are consolidated within its U.S. Wireless segment. These operations generated operating income estimated to be approximately $34 million, which is net of depreciation and amortization expense of approximately $42 million, for the first nine months of 2012.
K-Swiss to Be Acquired by E.Land World for $4.75 Per Share in Cash
K•Swiss Inc. (KSWS) and E.Land World Ltd. announced today entry into a definitive agreement pursuant to which E.Land World will acquire all of the outstanding common stock of K•Swiss for $4.75 per share in cash, or a total equity value of approximately $170 million.
Under the terms of the agreement, which was unanimously approved by K•Swiss’ Board of Directors, K•Swiss stockholders will receive $4.75 in cash for each outstanding Class A and Class B share of K•Swiss common stock they own, representing a 49% premium over the closing price for a share of Class A common stock on the NASDAQ Stock Market on January 16, 2013, and a 62% premium over the three-month, volume-weighted average trading price for a share of Class A common stock on the NASDAQ Stock Market as of January 16, 2013.
Denison Mines to Acquire Fission Energy and Spin-Out Patterson Lake
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Fission Energy Corp. (TSX VENTURE:FIS) ("Fission") is pleased to announce the signing of a Binding Letter of Intent (the "Binding LOI") pursuant to which Denison Mines Corp. ("Denison") will acquire a portfolio of uranium exploration projects including Fission's 60% interest in the Waterbury Lake uranium project, as well as Fission's exploration interests in all other properties in the eastern part of the Athabasca Basin, its interests in two joint ventures in Namibia plus its assets in Quebec and Nunavut (together, the "Assets").
Uranium One Enters into Definitive Agreement with ARMZ for Going Private Transaction for CDN$2.86 per Share in Cash
Board Unanimously Recommends Transaction
Uranium One Inc. ("Uranium One" or the "Company") today announced that it has entered into a definitive agreement (the "Arrangement Agreement") with JSC Atomredmetzoloto and its affiliate, Effective Energy N.V., (collectively "ARMZ") under which the Company would be taken private pursuant to a plan of arrangement (the "Plan of Arrangement"). ARMZ and its affiliates currently own 51.4% of the Uranium One common shares ("Common Shares").
Alamos Announces 40% Premium Takeover Offer for Aurizon
Alamos Gold Inc. (AGI.TO) ("Alamos" or the "Company") announced today that it has commenced an offer to acquire Aurizon Mines Ltd. ("Aurizon") for approximately C$780 million in cash and shares (the "Offer"). The Offer will remain open until 5:00 p.m. (Toronto time) on February 19, 2013 unless withdrawn or extended. Alamos has also applied to list its common shares ("Alamos Shares") on the New York Stock Exchange (the "NYSE") under the symbol "AGI".
Under the terms of the Offer, Alamos proposes to acquire all of the outstanding common shares of Aurizon ("Aurizon Shares") for consideration value of C$4.65 per Aurizon Share. Each Aurizon shareholder can elect to receive consideration per Aurizon Share of either C$4.65 in cash (the "Cash Alternative") or 0.2801 of an Alamos Share (the "Share Alternative"), subject in each case to pro-ration based on a maximum cash consideration of C$305,000,000 and maximum number of Alamos Shares issued of 23,500,000.
Hanfeng Evergreen Receives Privatization Proposal
Hanfeng Evergreen Inc ( HF ) ("Hanfeng" or the "Corporation") announced that its board of directors has received an unsolicited non-binding proposal from Mr. Xinduo Yu, the Corporation''s President and Chief Executive Officer and the holder of approximately 20.2% of Hanfeng''s outstanding common shares, pursuant to which a company wholly-owned by Mr. Yu would acquire all of the outstanding common shares not owned by it at a price of CDN$2.20 in cash per share.
The board of directors has previously formed a special committee of independent directors consisting of Loudon Owen (Chairman), Edwin Nordholm and David Thomson to review and consider the privatization proposal.
Nautilus Responds to Announcement of Unsolicited Take-Over Bid
Nautilus Minerals Inc. (TSX:NUS)(OTCQX:NUSMF)(AIM:NUS) (the "Company" or "Nautilus") has become aware through a news release dated January 7, 2013 that Michael Bailey, an individual, and an entity controlled by him, intend to make an unsolicited offer to purchase all of the outstanding shares of Nautilus.
Nautilus has not had any contact with Mr. Bailey or any entity controlled by him with respect to this unsolicited offer and has no prior knowledge thereof. Nautilus is therefore unable to make any determinations regarding the offer or its validity.
MidAmerican Solar Acquires World's Largest Solar Development from SunPower
Antelope Valley Solar Projects Will Generate 579 Megawatts for Southern California Edison
Today, MidAmerican Solar, a subsidiary of MidAmerican Renewables, and SunPower Corp. (SPWR) announced MidAmerican Solar's acquisition from SunPower of the 579-megawatt Antelope Valley Solar Projects (AVSP), two co-located projects in Kern and Los Angeles Counties in Calif. Together, the two combined projects will form the largest permitted solar photovoltaic power development in the world and will create an estimated 650 jobs during construction.
Avis Budget Group to Acquire Zipcar for $12.25 Per Share in Cash Combined company will be the global leader in car sharing and mobility solutions. Combination expected to produce $50-70 million in annual synergies. Transaction targeted to close in spring 2013. Avis Budget re-affirms its prior estimates of full-year 2012 results.
Avis Budget Group, Inc. (Nasdaq:CAR) and Zipcar, Inc. (Nasdaq:ZIP), the world's leading car sharing network, today announced that Avis Budget Group has agreed to acquire Zipcar for $12.25 per share in cash, a 49% premium over the closing price on December 31, 2012, representing a total transaction value of approximately $500 million.
Afferro Mining Inc. - Response to Press Speculation
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Further to the press speculation on 30 December 2012, the board of Afferro Mining Inc. ("Afferro", TSX-V & AIM: AFF) confirms that it has received an initial approach from International Mining and Infrastructure Corporation Plc ("IMIC"). IMIC would be prepared to make an offer, subject to completion of satisfactory due diligence and certain other conditions, for the entire issued and to be issued share capital of Afferro at between 115 and 140 pence per Afferro share. The consideration is to be satisfied by an undisclosed mix of cash, yet to be raised by IMIC, and new IMIC shares.
Diodes Incorporated to Acquire BCD Semiconductor Manufacturing Limited
All-Cash Transaction Valued at $151 Million for BCD Semiconductor’s $137 Million in TTM Revenue and Approximately $39 Million of Cash Equivalents as of September 30, 2012
Diodes Incorporated (DIOD), a leading global manufacturer and supplier of high-quality application specific standard products within the broad discrete, logic and analog semiconductor markets, and BCD Semiconductor Manufacturing Limited ("BCD Semiconductor" or "BCD") (BCDS), a leading analog integrated device manufacturer incorporated in the Cayman Islands, today announced that Diodes has entered into an Agreement and Plan of Merger to acquire BCD.
Cogeco Cable Inc. to Acquire PEER 1 Network Enterprises, Inc.
Cogeco Cable Inc. ("Cogeco Cable") (CCA.TO) and PEER 1 Network Enterprises, Inc. ("PEER 1") (PIX.TO)Cogeco Cable to Offer $3.85 in cash consideration per share Acquisition increases scale and reach of Cogeco Cable''s IT hosting business Enhances Cogeco Cable''s data centre capabilities in key strategic growth areas including managed hosting, dedicated hosting, cloud services and co-location Positions Cogeco Cable to provide an expanded suite of network and hosting services particularly to small and medium sized businesses Addition of world class infrastructure including 19 data centres and 21 points-of-presence throughout North America and Europe
Pinnacle Entertainment to Acquire Ameristar Casinos for $26.50 Per Share in Cash
Transformative Transaction Creates a Best in Class Gaming Platform With Increased Diversification and Significant Efficiencies of Scale Expected to be Accretive to Pinnacle's Free Cash Flow and Earnings Per Share
Pinnacle Entertainment, Inc. (PNK) and Ameristar Casinos, Inc. (ASCA) announced today that the companies have entered into a definitive agreement under which Pinnacle will acquire all of the outstanding common shares of Ameristar for $26.50 per share in cash, for a total enterprise value of $2.8 billion, including debt of $1.9 billion and cash on hand of $116 million as of September 30, 2012. This consideration represents a premium of 45% over the average closing price of Ameristar common stock for the 90 days ended December 20, 2012. The transaction has received the unanimous approval of both the Ameristar and Pinnacle Boards of Directors.
Pace Oil & Gas, AvenEx Energy and Charger Energy to Combine and Form Intermediate Dividend Paying Corporation
Conversion of natural gas volumes to barrels of oil equivalent (boe) are at 6:1.
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Pace Oil & Gas Ltd. ("Pace") (TSX:PCE), AvenEx Energy Corp. ("AvenEx") (TSX:AVF) and Charger Energy Corp. ("Charger") (TSX VENTURE:CHX) announce that they have entered into an agreement (the "Arrangement Agreement") providing for the combination of Pace, AvenEx and Charger to form a dividend paying corporation to be named "Spyglass Resources Corp." ("Spyglass"). Spyglass will have a balanced commodity profile and sustainable business model underpinned by 18,000 boe/d of stable, low decline oil and gas production and will be led by an experienced management team.
Oracle Buys Eloqua
Oracle today announced that it has entered into an agreement to acquire Eloqua, Inc. (NASDAQ: ELOQ), a leading provider of cloud-based marketing automation and revenue performance management software for $23.50 per share or approximately $871 million, net of Eloqua’s cash. Eloqua’s modern marketing cloud delivers best-in-class capabilities to ensure every component of marketing works harder and more efficiently to drive revenue.
The combination of Oracle and Eloqua is expected to create a comprehensive Customer Experience Cloud offering to help companies transform the way they market, sell, support and serve their customers. The combined offering is expected to enable organizations to provide a highly personalized and unified experience across channels, create brand loyalty through social and online interactions, grow revenue by driving more qualified leads to sales teams, and provide superior service at every touchpoint.
Investors Bancorp and Roma Financial Corporation Announce Merger Agreement
Investors Bancorp, Inc. (ISBC) ("Company"), the holding company for Investors Bank, and Roma Financial Corporation (ROMA), the federally-chartered holding company for Roma Bank, today jointly announced the signing of a definitive merger agreement. Roma Financial Corporation, MHC (Roma MHC), a federally chartered mutual holding company, owns approximately 74.5% of Roma Financial Corporation. As of September 30, 2012, Roma Financial Corporation operated 26 branches in Burlington, Ocean, Mercer, Camden and Middlesex counties, New Jersey, and had assets of $1.84 billion, deposits of $1.49 billion and stockholders' equity of $218.8 million.
A.M. Best Comments on Markel Corporation’s Planned Merger With Alterra Capital Holdings Limited
A.M. Best Co. has commented that the issuer credit rating (ICR) and debt ratings of Markel Corporation (Markel) (Glen Allen, VA) [NYSE: MKL] and the financial strength rating and ICRs of its insurance subsidiaries are unchanged. The ratings of Markel and its subsidiaries were previously affirmed on November 13, 2012.
This comment is in response to the recently announced definitive merger agreement between Markel and Alterra Capital Holdings Limited (Alterra) [NASDAQ: ALTE] and takes into consideration the terms of the merger, the future business prospects and synergies gained from the transaction, as well as the pro forma financials of the combined entity.
Inmet Mining Responds to First Quantum Announcement
Inmet Mining Corporation (Inmet) (TSX:IMN) responds to a news release issued yesterday by First Quantum Minerals Ltd. announcing its intention to make an unsolicited takeover offer for Inmet. The offer has not yet been received by Inmet and Inmet shareholders are advised to take no action at this time. The Board of Directors of Inmet, in accordance with its fiduciary duties and with counsel from its financial and legal advisers, will fulfill its legal responsibility and will evaluate any formal offer and will recommend a course of action that is in the best interests of Inmet and its stakeholders. Until such time as we make a public announcement, we will refrain from providing any statements or interviews to media outlets.