Ivanhoe Mines Receives US$388 Million From Rio Tinto to Advance Oyu Tolgoi Copper-Gold Mining Complex in Mongolia
Ivanhoe Mines' (TSX: IVN)(NYSE: IVN)(NASDAQ: IVN) Executive Chairman Robert Friedland announced today that the company has received US$388 million from Rio Tinto to complete Rio Tinto's Tranche 2 private placement financing announced on October 13, 2009.
Rio Tinto's equity ownership in Ivanhoe Mines now has increased to 19.7%. The additional funds will be used to help build and commission the open-pit mine and to advance development of the underground block-cave mine at Ivanhoe's Oyu Tolgoi copper-gold project in Mongolia.
The terms of the private placement were negotiated as part of the original Ivanhoe Mines-Rio Tinto strategic partnership established in October 2006 to develop the Oyu Tolgoi mining complex.
CAE awarded military contracts valued at more than C$75 million
CAE (TSX: CAE)(NYSE: CAE) today announced a series of military contracts awarded over the past two months valued at more than C$75 million. Included in this total are a number of defence and professional services contracts to support military and homeland security programs in Canada and the United Kingdom as well as a range of other military products and services contracts.
"Growth in our defence and professional services segment continues to be an area of strategic importance for CAE, and we continue to see opportunities for extending the use of modelling and simulation to analysis, training and operational systems," said Martin Gagne, CAE's Group President, Military Simulation Products, Training and Services. "Our acquisition of xwave's Defence, Security, and Aerospace business earlier this year has brought CAE a range of new capabilities in areas such as electronic warfare and tactical mission training, which we are now beginning to harness."
Harvest Energy Trust Agrees to C$4.1 Billion Sale to Korea National Oil Corporation
Harvest Energy Trust ("Harvest") (TSX:HTE.UN) (NYSE:HTE) today announces that it has entered into an agreement (the "Arrangement Agreement") with Korea National Oil Corporation ("KNOC") for the purchase of all the issued and outstanding trust units (the "Units") at a price of C$10.00 per Unit for a total cash consideration of approximately C$1.8 billion plus the assumption of C$2.3 billion of debt. The Arrangement Agreement will be completed by way of a plan of arrangement under the Business Corporations Act (Alberta) (the "Arrangement"). The Arrangement represents a 47% premium over the 30-day weighted average trading price of the Units on the Toronto Stock Exchange up to and including October 20, 2009.
Shaw High-Speed Nitro- Canada's Fastest
Fastest Internet in Canada Comes to Calgary, Edmonton and Vancouver
Shaw Communications Inc. (TSX: SJR.B) (NYSE: SJR) today announced the launch of High-Speed Nitro, Canada's fastest Internet service, in the cities of Calgary, Edmonton and Vancouver.
High-Speed Nitro is unquestionably the fastest Internet speed available across Canada at 100 megabits per second (Mbps), now available to over 3.6 million Canadians in six cities. Through the deployment of DOCSIS 3.0 technology, Shaw offers High-Speed Nitro in the largest centres in Western Canada, including Saskatoon, Victoria and Winnipeg, which were launched earlier in 2009. Shaw also continues to upgrade its fibre network throughout all Shaw communities to continually improve its suite of Internet services for customers.
First of New Calling Applications Now Available -Vonage Mobile Provides International Calling at Low Rates through Wi-Fi and Cell
Today Vonage (NYSE: VG) launched Vonage Mobile, its first mobile calling application for smartphones. Vonage Mobile is a free downloadable application (app) that provides seamless, low-cost international calling while on Wi-Fi or cellular networks*. Once downloaded, the service saves customers more than 50% on calls to dozens of countries versus the rates charged by wireless carriers while providing far more convenience than calling cards. Vonage Mobile will be available for download on the iPhoneÃ‚Â®, BlackBerryÃ‚Â® and iPod touchÃ‚Â® at www.vonage.com and the iTunes App Store later today.
With Vonage Mobile you can call around the world from home, a Wi-Fi hotspot, or while traveling around the country. Vonage Mobile is easy to use. There are no access numbers or new phone numbers to give to friends and family.
Sara Lee Receives Binding Offer of EUR1.275 Billion From Unilever for its Global Body Care Business
Company Plans to Use Proceeds to Invest in Core Businesses and Repurchase Stock; Board Authorizes a $1.0 Billion Share Repurchase Program
Sara Lee Corp. (NYSE: SLE ) announced today it has received a binding offer of EUR1.275 billion from Unilever to acquire its global body care and European detergents businesses. Where permissible, Sara Lee has agreed to accept the binding offer upon satisfaction of certain conditions. In fiscal 2009, these businesses generated annual sales of approximately EUR750 million ($1.0 billion) and accounted for approximately 55% of the adjusted operating segment income for the International Household and Body Care business. The global body care and European detergents businesses encompass a wide variety of popular brands, including Sanex, Radox and Duschdas.The proposed transaction, which is subject to customary closing conditions and regulatory clearances, is anticipated to close during calendar year 2010.
Dell to Acquire Perot Systems for $3.9 Billion, Creating Comprehensive, Customer-Focused IT-Solutions Company
Complementary Strengths Enhance Dell’s IT Services Portfolio, Perot Systems’ Global Reach Companies Together Represent $8 Billion in Services Revenue Acquisition Expected to Be Accretive to GAAP Earnings in Fiscal 2012-Dell and Perot Systems have entered a definitive agreement for Dell to acquire Perot Systems in a transaction valued at approximately $3.9 billion. Terms of the agreement were approved yesterday by the boards of directors of both companies.
The acquisition will result in a compelling combination of two iconic information-technology brands. The expanded Dell will be even better positioned for immediate and long-term growth and efficiency driven by:
Kraft Foods said Monday it's pursuing a takeover of Cadbury after the U.K. chocolate maker rejected a 10.2 billion pound ($16.7 billion) bid.
Kraft (KFT) said a combination of the two would create a "global powerhouse in snacks, confectionery and quick meals" with annual sales of more than $50 billion. But analysts suggested the U.S. giant, which is a component of the Dow Jones Industrial Average, may need to significantly raise its offer.
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Disney to Acquire Marvel Entertainment
Worldwide leader in family entertainment agrees to acquire Marvel and its portfolio of over 5,000 characters - Acquisition highlights Disney’s strategic focus on quality branded content, technological innovation and international expansion to build long-term shareholder value
Building on its strategy of delivering quality branded content to people around the world, The Walt Disney Company (NYSE:DIS ) has agreed to acquire Marvel Entertainment, Inc. (NYSE:MVL ) in a stock and cash transaction, the companies announced today.
Under the terms of the agreement and based on the closing price of Disney on August 28, 2009, Marvel shareholders would receive a total of $30 per share in cash plus approximately 0.745 Disney shares for each Marvel share they own. At closing, the amount of cash and stock will be adjusted if necessary so that the total value of the Disney stock issued as merger consideration based on its trading value at that time is not less than 40% of the total merger consideration.
Oshkosh Defense Selected to Produce U.S. Armys FMTV, Receives First Delivery Order for $280.9 Million
Oshkosh Defense, a division of Oshkosh Corporation (NYSE: OSK), has been awarded a contract by the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command (TACOM LCMC) for the U.S. Army’s Family of Medium Tactical Vehicles (FMTV) rebuy program.
“We feel privileged that the U.S. Army has selected Oshkosh to produce the FMTV, an important element to the Warfighter’s tactical vehicle fleet,” said Robert G. Bohn, Oshkosh Corporation chairman and chief executive officer. “This was a highly competitive bid. We look forward to working closely with our customer on this project to meet the needs of our troops, just as we have with our other products and services."
Tim Hortons rolls into New York City
<< Major restaurant chain opens 12 coffee and baked goods locations in NYC; 3,500-store chain ranks as fourth largest in North America by market cap >>
Tim Hortons Inc. (NYSE: THI, TSX: THI), one of North America's largest quick service restaurant chains, today began serving its premium signature coffee, always fresh baked goods and variety of soups and sandwiches for the first time in New York City, a major market offensive that continues its ongoing U.S. expansion.
Tim Hortons has close to 3,500 locations in North America, including more than 500 in the U.S. Tim Hortons restaurants sell about two billion cups of coffee annually and account for more than seven of every 10 cups of coffee sold in quick service restaurants in Canada.
Teck Resources Announces C$1.74 Billion Private Placement
Teck Resources Limited ("Teck") (TSX:TCK.A and TCK.B, NYSE:TCK) announced today that China Investment Corporation ("CIC") has agreed to purchase through a wholly-owned subsidiary 101.3 million Class B subordinate voting shares of Teck for C$17.21 per share. Teck will apply the net proceeds of the transaction to reduce outstanding bank debt. On closing, CIC will indirectly hold approximately 17.5 per cent of Teck's outstanding Class B subordinate voting shares, representing approximately 17.2 per cent equity and 6.7 per cent voting interests in Teck. Upon completion of the transaction, Teck's Class A shareholders as a group will hold a 61.8 per cent voting interest in Teck with Temagami Mining Company Ltd. holding a 28.5 per cent voting interest.
Coeur Applauds Today's Supreme Court Decision Upholding Kensington Mine Tailings Permit
Mine Represents 135% Increase to Coeur's Gold Production Levels and Long-term Economic Stimulus and Job Growth to Southeast Alaska
Coeur d'Alene Mines Corporation (NYSE:CDE) (TSX:CDM) (ASX:CXC) announced today that the United States Supreme Court has released its decision affirming the previously issued permit for the tailings facility for the Kensington gold mine near Juneau, Alaska. The decision clears the way for completion of the only item remaining to be constructed, the tailings facility, and for production to commence at the mine, providing job growth and economic stimulus to Southeast Alaska.
"We are very pleased with today's decision by the Supreme Court. It confirms that the thoroughly studied and permitted plan is lawful and the best environmental choice," said Dennis E. Wheeler, Chairman, President and Chief Executive Officer of Coeur.
Nelnet Receives Department of Education Servicing Contract
Nelnet (NYSE: NNI) announced today it has been awarded a contract by the U.S. Department of Education (Department) to service federal student loans. Servicing volume will initially be allocated by the Department to servicers awarded a contract; however, performance factors such as customer satisfaction levels and default rates will determine volume allocations over time.
"Nelnet is extremely pleased to have this opportunity," said Jeff Noordhoek, Nelnet President. "We look forward to collaborating closely with the Department to serve students, families, and schools."
Talisman Energy Announces a Significant Discovery in Colombia
Talisman (Colombia) Oil & Gas Ltd., a wholly owned subsidiary of Talisman Energy Inc. (TSX: TLM) (NYSE: TLM) ("Talisman"), has announced a significant gas condensate field discovery in the Niscota Block of the Andes foothills, located 300 kilometres north east of Bogota, Colombia.
In the Niscota Block, the Huron-1 well, which was spudded in June last year, has been drilled to a current depth of 18,275 feet in a heavily faulted area and encountered several reservoirs. One reservoir was tested at 3,400 bbls/d of gas condensate. The well is currently being deepened to complete the evaluation of the prospective section. Further logging and testing is planned.
Talisman Energy Announces a Promising Oil Discovery Offshore Norway
Talisman Energy Norge AS, a wholly owned subsidiary of Talisman Energy Inc. (TSX: TLM) (NYSE: TLM), has made a promising oil discovery in the 15/12-21 exploration well drilled on the Grevling Prospect in the North Sea. The Grevling well is located about 215 kilometres off the west coast of Norway in PL038, Block 15/12, on the eastern flank of the Central Graben.
The well, which targeted Mesozoic sandstone reservoirs on a structural high, was drilled to a total vertical depth of 3,268 metres, encountering a gross hydrocarbon bearing interval of approximately 133 metres. Two zones were tested at a combined rate of 1,250 bbls/d (197 m3/d). Currently a sidetrack well is being drilled down-dip on the flank of the structure to assess its volumetric upside potential. The discovery lies 16 kilometers north of the Talisman operated Varg Field.
DUBAI – May 18, 2009 (Cards Middle East Conference) – VeriFone Holdings, Inc. (NYSE: PAY), today announced the QX1000 plug-and-play solution for adding contactless card payment acceptance to existing point-of-sale devices, electronic cash registers (ECR) and PCs. The QX1000 is based on an advanced contactless architecture that utilizes a single contactless interface (SingleCI) and incorporates the most sought-after features in user-friendly design and customer branding. The QX1000 is a global contactless solution from the leader in payments and is suited to the widest range of EMV and mag-stripe contactless cards from Visa, MasterCard, Discover and American Express, as well as non-payment applications such as MiFare. Installation involves quick connections via factory-installed USB or serial options.
American Dairy Reports First Quarter 2009 Financial Results
- 1Q09 Sales Increase 191% to $113.8 Million vs $39.1 Million in 1Q08 -- Income from Continuing Operations Up 523% to $32.0 million vs $5.1 million in 1Q08 -- Net Income up 282% to $27.8 Million vs $7.3 Million in 1Q08 -
BEIJING and LOS ANGELES, May 14 /PRNewswire-FirstCall/ -- American Dairy, Inc. (NYSE Arca: ADY) ("American Dairy" or the "Company"), one of the leading producers and distributors of premium infant formula, milk powder and soybean, rice and walnut products in China, today announced financial results for the first quarter 2009.
Sales increased 191.1% to $113.8 million in the first quarter 2009 from $39.1 million in the first quarter of 2008.
Biovail Announces Termination of HSR Waiting Period, Closing of Acquisition of U.S. Rights to Wellbutrin XL(R)
Biovail Corporation (NYSE, TSX: BVF) today announced that the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act has expired with respect to the acquisition of U.S. rights to Wellbutrin XL(R) (bupropion hydrochloride extended-release tablets) by its subsidiary, Biovail Laboratories International SRL, from GlaxoSmithKline plc (GSK).
Under the terms of the agreement, which closed today, Biovail has paid $510 million to GSK to acquire the full U.S. rights to Wellbutrin XL(R).
Wellbutrin XL(R) is indicated for the treatment of major depressive disorder and seasonal affective disorder.
IAMGOLD Announces First Quarter Results; Net Earnings Increase of 53%; Gold Reserves Increase 29%; Essakane Project Progressing
IAMGOLD Corporation (TSX: IMG)(NYSE: IAG)(BOTSWANA: IAMGOLD) - For a full explanation of results, the unaudited interim Consolidated Financial Statements, Management Discussion and Analysis, and mine statistics, please see the Company's website, www.iamgold.com. All amounts are expressed in US dollars, unless otherwise indicated.
"We remain committed to delivering strong operating results and the first quarter was a solid start for the year. We will continue to focus on operational improvements to lower costs even further and increase production levels beyond our current guidance of 880,000 ounces for 2009.