Чикагская семья Pritzker, контролирующая Global Hyatt, заключила соглашение о приобретении компании TMS International примерно за $687 млн или $17,5 за акцию наличными. Стоит отметить, что предложенная цена за каждую бумагу TMS International на 15% превышает стоимость ее акций на закрытии торгов в пятницу на уровне $15,57 за бумагу.
As flagged, The Pritzker Organization (TPO) has agreed to acquire TMS International in a deal worth $1B, including refinanced 3rd-party debt. TPO's offer of $17.50 a share for the provider of procurement and other services to steel mills represents a premium of about 12% to TMS's close of $15.57 on Friday. TPO is paying $687M for TMS. (PR) Post your comment!
Власти США активизировали планы военного вторжения в Сирию; старшие IT-специалисты Goldman Sachs отправлены в принудительный отпуск; Tom Pritzker купит TMS International за $1 млрд; Amgen поглотит Onyх по $125 за акцию; Стив Балмер ушел, но Microsoft ожидает кризис; маркетологи разрабатывают новые стратегии вирусной рекламы.
The Pritzker Organization (TPO) has reportedly agreed to acquire TMS International, a provider of procurement and other services to steel mills, for $1B, including around $300M in debt. The offer of $17.50 a share represents a 12.4% premium to the stock's closing price of $15.57 on Friday. TPO, which is the investment firm of billionaire Tom Pritzker, is acquiring TMS after winning an auction. The latter's main owner is Canadian private-equity firm Onex (ONEXF.PK) with a 60% stake. Post your comment!
Here's your Cheat Sheet to earnings...
TMS International (TMS) declares $0.10/share quarterly dividend, in line with previous. Forward yield 2.35%. For shareholders of record Aug. 16. Payable Sept. 20. Ex-div Aug. 14. (PR)
TMS International (TMS) declares $0.10/share quarterly dividend, in line with previous. Forward yield 2.35%. For shareholders of record Aug. 16. Payable Sept. 20. Ex-div Aug. 14. (PR) Post your comment!
TMS International (TMS) declares its first-ever quarterly dividend of $0.10/share. Forward yield 2.80%. For shareholders of record May 16. Payable July 03. Ex-div date May 14. (PR)
TMS International (TMS) declares its first-ever quarterly dividend of $0.10/share. Forward yield 2.80%. For shareholders of record May 16. Payable July 03. Ex-div date May 14. (PR) Post your comment!
Here's your Cheat Sheet to earnings...
TMS International (TMS): Q1 EPS of $0.21 misses by $0.05. Revenue of $589.6M misses by $54.13M. (PR)
TMS International (TMS): Q1 EPS of $0.21 misses by $0.05. Revenue of $589.6M misses by $54.13M. (PR) Post your comment!
Honda (HMC) expects demand for its Accord sedan to boost its U.S. sales this month to an 8% Y/Y gain but says the projected increase would be below its internal target. HMC sees March sales of 125K vehicles, with 35K Accord sales, but it may not be enough to meet goals this year to break its U.S. sales record of 1.55M vehicles and to have Accord pass Toyota's (TM) Camry (earlier).
Honda (HMC) expects demand for its Accord sedan to boost its U.S. sales this month to an 8% Y/Y gain but says the projected increase would be below its internal target. HMC sees March sales of 125K vehicles, with 35K Accord sales, but it may not be enough to meet goals this year to break its U.S. sales record of 1.55M vehicles and to have Accord pass Toyota's (TM) Camry (earlier). Post your comment!
What to watch for from the New York International Auto Show: 1) General Motors ([[GM]] -0.5%) will unveil a full slate of new models including Cadillac CTS, Buick Regal, Chevy SS, Buick LaCrosse - and the highly anticipated Chevy Camaro retooling. 2) Chrysler (FIATY.PK) will showcase the next-generation Jeep Cherokee, to be rebranded as the Liberty SUV, along with a few limited edition muscle cars. 3) The most-watched model from Toyota ([[TM]] -0.1%) will be the new midsize 2013 Highlander SUV. 4) On the EV front, Nissan (NSANY.OB) is out with a hybrid version of the Pathfinder and Subaru (SBUOF.PK) hopes to make a splash with the XV Crosstek Hybrid.
What to watch for from the New York International Auto Show: 1) General Motors (GM -0.5%) will unveil a full slate of new models including Cadillac CTS, Buick Regal, Chevy SS, Buick LaCrosse - and the highly anticipated Chevy Camaro retooling. 2) Chrysler (FIATY.PK) will showcase the next-generation Jeep Cherokee, to be rebranded as the Liberty SUV, along with a few limited edition muscle cars. 3) The most-watched model from Toyota (TM -0.1%) will be the new midsize 2013 Highlander SUV. 4) On the EV front, Nissan (NSANY.OB) is out with a hybrid version of the Pathfinder and Subaru (SBUOF.PK) hopes to make a splash with the XV Crosstek Hybrid. Post your comment!
Here's your Cheat Sheet to earnings...
TMS International (TMS): Q4 EPS of $0.15 misses by $0.06. Revenue of $536.8M misses by $53.2M. (PR) Post your comment!
ByThe Investing Engineer:With the North American International Auto Show just starting in Detroit, there have already been some exciting new vehicles. The much anticipated Chevrolet Corvette redesign was revealed (to mixed reviews, if you read automotive forums) as well as strong concept previews from Honda (HMC) and Toyota (TM). Of course the big reveal for me, as a strong advocate of Ford Motor Company (F), was the new Lincoln Motor Company MKC concept SUV.If you've been following my articles concerning Ford and Lincoln, you already know that one of my biggest concerns regarding the future of the luxury lineup is the ability of the company to put out a good looking vehicle. I have expressed many times how I am turned off by the MKX and MKT SUV models. While not everyone shares my lack of enthusiasm for those baleen grills, it's hard to disagree that the vehiclesComplete Story »
Harman International Industries ([[HAR]] +3.6%) is one of the S&P 500's big gainers today, boosted by an upgrade to Outperform at Baird. The firm notes a jump in contracts with major auto makers including Toyota (TM) and BMW, which should drive high single-digit sales growth through 2015 and help to offset the potential for competition from an increase in smartphone usage. Harman however, doesn't see those devices as a threat.
Harman International Industries (HAR +3.6%) is one of the S&P 500's big gainers today, boosted by an upgrade to Outperform at Baird. The firm notes a jump in contracts with major auto makers including Toyota (TM) and BMW, which should drive high single-digit sales growth through 2015 and help to offset the potential for competition from an increase in smartphone usage. Harman however, doesn't see those devices as a threat. Post your comment!
Senate-Passed Deal Means Higher Tax on 77% of Households (BBG) Bipartisan House Backs Tax Deal Vote as Next Fight Looms (BBG) Fresh stand-off looms after US cliff deal (FT) Congress Deal Averting Tax Increase Curbs Risk to States (BBG) How Colombian drug traffickers used HSBC to launder money (Reuters) Danes Face New Reality in Struggle to End Crisis, PM Says (BBG) Ban on demanding Facebook passwords among new 2013 state laws (Reuters) Oil Climbs to Three-Month High as U.S. House Passes Budget Bill (BBG) Cameron seeks bold steps from G8 leaders (FT) China to outstrip Europe car production (FT) North Korea Picks Stronger Economy, South Ties as Top 2013 Tasks (BBG) Overnight Media Digest WSJ * Congress broke a rancorous stalemate on Tuesday to pass legislation designed to avert the so-called fiscal cliff. But the compromise bill, which blocked most impending tax increases and postponed spending cuts largely by raising taxes on upper-income Americans, left a host of issues unresolved and guaranteed continued budget clashes between the parties. * Apple Inc was hit New Year's Eve by an armed robbery at one of the company's Paris stores, the first major robbery of an Apple store in France. * South Korean steelmaker Posco said it and its partners have agreed to purchase a 15 percent stake in an ArcelorMittal-controlled iron-ore mining company in Canada for $1.1 billion. * Royal Dutch Shell Plc suffered another potential setback in its attempt to drill for oil in U.S. Arctic waters when an offshore rig ran aground after breaking free from tow ships in high seas. * Time Warner Cable Inc, which had warned of its intention to drop little-watched TV channels, agreed to at least temporarily extend carriage of several such channels ahead of the Dec. 31 deadline for renewal. * Intel Corp's effort to develop an Internet-based TV service and associated hardware is taking longer than expected, people familiar with the company's plans say, in part due to delays in reaching content agreements with media companies. * The recovering U.S. auto industry should hit its stride this year as new vehicle offerings, pickup-truck demand and a stable economy push sales above 15 million, automotive forecasting firm Polk predicts. * Manufacturing activity in China expanded at a mild pace in December, a survey of businesses showed, suggesting the economy is rebounding, but fighting headwinds from weak conditions around the world. * India's capital-markets regulator is taking steps to tame what has been one of the world's wildest IPO markets, with plans including forcing companies' founders to reimburse small investors for some losses. NYT * Ending a climactic fiscal showdown in the final hours of the 112th Congress, the House late on Tuesday passed and sent to President Obama legislation to avert big income tax increases on most Americans and prevent large cuts in spending for the Pentagon and other government programs. * With the House of Representatives approval of a fiscal agreement late on Tuesday, investors were expecting a rally in the markets to start the New Year. But the surge was not expected to last long, with investors and economists quickly shifting their focus to several hurdles the economy faces in the coming months. * Only the most affluent American households will pay higher income taxes this year under the terms of a deal that passed Congress, but most households will face higher payroll taxes because the deal does not extend a two-year-old tax break. * One of Shell Oil's two Arctic drilling rigs is beached on an island in the Gulf of Alaska, threatening environmental damage from a fuel spill and calling into question Shell's plans to resume drilling in the treacherous waters north of Alaska in the summer. The rig, the Kulluk, broke free from a tow ship in stormy seas and ran aground Monday night. * Energy drinks are the fastest-growing part of the beverage industry, with sales in the U.S. reaching more than $10 billion in 2012 - more than Americans spent on iced tea or sports beverages like Gatorade. * The asset forfeiture unit of the United States attorney's office in Manhattan recovered about $3 billion in crime proceeds in 2012, including a Tyrannosaurus skeleton worth more than $1 million. * An important gauge of China's giant manufacturing sector published on Tuesday showed a third successive month of expansion in December and underlined the view that the world's second-largest economy has settled into a mild rebound that is likely to extend into 2013. * After a year of legal wrangling between the designer Tory Burch and her former husband, Chris Burch, who is also the owner of the clothing retailer C. Wonder, Ms. Burch announced that an agreement had been reached to settle all pending legal claims between the couple. Canada THE GLOBE AND MAIL * The next step in the Harper government's transformation of Canada's immigration system will turn Ottawa into an online matchmaker, connecting would-be migrants with employers who want to hire them. The web-based "Expression of Interest" system, to be in place by 2014, will be an invitation-only route for economic immigrants where prospective arrivals advertise their skills and qualifications on a Canadian government database that will be perused by employers. * Ottawa is studying a list of 60 Russian officials who have allegedly gone unpunished over a major corruption and murder case in their home country, and now has to decide whether to ban them from Canada. The situation places the Canadian government in the middle of a diplomatic spat between the United States and Russia that has grown to engulf the emotional issue of international adoptions. Reports in the business section: * A slowing housing market and uncertainty over the shape of a deal on the U.S. "fiscal cliff" are putting a lid on projections for economic growth and stock market gains in 2013. Most forecasts see Canada's GDP expanding by only 1.8 percent or so in 2013, down from an estimated 2.0 percent in 2012. NATIONAL POST * Public confidence in Canada's national police force has dropped "significantly" over the past five years, according to a new poll conducted by Ipsos Reid on behalf of Postmedia News and Global Television. Hong Kong SOUTH CHINA MORNING POST -- An investigation into the setting of Hong Kong's interbank interest rates is unlikely to reveal any misconduct that had a major social impact because rates have been low for years, says the Hong Kong Association of Banks. (link.reuters.com/hub94t) -- After a sharp fall in rentals in the core Central district, the worst for Hong Kong's office leasing market is over, property consultants say. (link.reuters.com/jub94t) -- Stable demand from local luxury home buyers in Beijing may continue to help the capital city's top-end property market grow steadily this year despite the government's ongoing tightening measures. (link.reuters.com/kub94t) HONG KONG ECONOMIC JOURNAL -- Rent of the 10 largest housing estates by turnover increased by about 20 percent over 2012. SING TAO DAILY -- Evergrande Real Estate Group Ltd ranks No.1 in total area sold in the mainland property market in 2012, while China Vanke Co Ltd takes the lead in sales revenue. -- Aluminum Corp of China bought a 23.66 percent stake in Ningxia Electric Power Group from Huadian Power International Corp Ltd for 1.36 billion yuan ($218.29 million). THE STANDARD -- Danish audio equipment maker Bang & Olufsen, in tandem with luxury goods distributor Sparkle Roll Group Ltd, is setting the stage to be seen and heard in the mainland. (link.reuters.com/pub94t) Fly on the Wall 7:00 am Market Snapshot ANALYST RESEARCH Upgrades Brunswick (BC) upgraded to Outperform from Market Perform at BMO CapitalC.R. Bard (BCR) upgraded to Overweight from Neutral at JPMorganMarriott (MAR) upgraded to Buy from Neutral at SunTrustOlympic Steel (ZEUS) upgraded to Neutral from Underperform at Credit SuissePAREXEL (PRXL) upgraded to Buy from Neutral at CitigroupPepco Holdings (POM) upgraded to Outperform from Market Perform at Wells FargoQuidel (QDEL) upgraded to Outperform from Market Perform at Raymond JamesSmithfield Foods (SFD) upgraded to Outperform from Market Perform at BMO CapitalU.S. Steel (X) upgraded to Outperform from Neutral at Credit SuisseUrban Outfitters (URBN) upgraded to Hold from Underperform at JefferiesValspar (VAL) upgraded to Buy from Hold at KeyBancWalgreen (WAG) upgraded to Outperform from Market Perform at Raymond James Downgrades Alliant Energy (LNT) downgraded to Market Perform from Outperform at Wells FargoAmerican Eagle (AEO) downgraded to Hold from Buy at JefferiesAnn Inc. (ANN) downgraded to Hold from Buy at JefferiesAscena Retail (ASNA) downgraded to Neutral from Buy at CitigroupBrown Forman (BF.B) downgraded to Underweight from Equal Weight at Morgan StanleyHovnanian (HOV) downgraded to Neutral from Buy at UBSIDACORP (IDA) downgraded to Market Perform from Outperform at Wells FargoLinkedIn (LNKD) downgraded to Equal Weight from Overweight at BarclaysMindray Medical (MR) downgraded to Neutral from Outperform at Credit SuisseNTELOS (NTLS) downgraded to Neutral from Overweight at JPMorganRoss Stores (ROST) downgraded to Neutral from Buy at CitigroupSkullcandy (SKUL) downgraded to Underperform from Buy at JefferiesStarwood Hotels (HOT) downgraded to Neutral from Buy at SunTrustTarget (TGT) downgraded to Hold from Buy at JefferiesTilly's (TLYS) downgraded to Neutral from Overweight at Piper JaffrayWellpoint (WLP) downgraded to Neutral from Outperform at Credit Suisse Initiations AbbVie (ABBV) initiated with an Outperform at BMO CapitalAbbott (ABT) initiated with an Outperform at BMO CapitalAlon USA Energy (ALJ) initiated with a Neutral at Credit SuisseAlon USA Partners (ALDW) initiated with a Neutral at Credit SuisseFacebook (FB) coverage assumed with a Neutral at CowenWestern Gas Equity (WGP) initiated with an Outperform at RBC CapitalWestern Gas Partners (WES) initiated with an Overweight at Barclays HOT STOCKS House passed 'fiscal cliff' bill, President Obama to signArcelorMittal (MT) to sell 15% interest in ArcelorMittal Mines Canada for $1.1BAvis Budget (CAR) to acquire Zipcar (ZIP) for $12.25 per share in cashScott Griffith to remain Zipcar CEO Live Nation Entertainment (LYV) Chairman Irving Azoff resigned Middleby (MIDD) acquired Viking Range for $380M NEWSPAPERS/WEBSITES The recovering U.S. auto industry (F, GM, FIATY, TM) should hit its stride this year as new vehicle offerings, pickup-truck demand and a stable economy push sales above 15M, the Wall Street Journal reportsGrowth in broadband revenue has helped cable operators offset a stagnant pay-TV market, but the industry (GOOG, VZ, TWC, CMCSA, CALX, CHTR) is resisting pressure from local governments, businesses and universities to offer ultrafast Internet service, opening the door to new competitors, the Wall Street Journal reportsU.S. stocks are poised for gains to begin the year after passage of a bill to avoid harsh tax hikes that would have hit most Americans and crimped economic growth, Reuters reportsU.S. sales of warplanes, anti-missile systems and other weapons to China's and North Korea's neighbors appear set for significant growth (LMT, NOC, GD, BA) amid regional security uncertainty, Reuters reportsMiddle East and North Africa equities are set to outperform emerging markets as higher dividends and state-funded expansion attract investors looking for better returns, says Franklin Templeton Investment Management, Bloomberg reportsOil increased to the highest level in over 10 weeks in New York--as much as 1.1%--after lawmakers reached a deal to avert automatic tax increases and spending cuts that threatened growth in the U.S. economy, Bloomberg reports SYNDICATE Asia Entertainment (AERL) files to sell 7.8M shares for holders