Notable Mergers and Acquisitions of the Day 11/17: BAC, PCP, BGH
More News related to BAC
- Bank of America (BAC) to Pay $713 Million in TARP Preferred Dividends
- Bank of America to Pay $713 Million in TARP Preferred Dividends
- Active equity option families in first 30 minutes of trading according to Track Data are: C MSFT RIMM BAC
- Bank of America Announces Limited Acceptance of California State-Issued Registered Warrants for Customers and Clients
- Banc of America Securities-Merrill Lynch Research Hires Rachel McMinn, Masha Chapman and Sarah Stinson as U.S. Biotechnology Team
More News related to BGH
- Wunderlich Securities Initiates Coverage on Buckeye GP Holdings (BGH) with a Buy
- Morgan Stanley Initiates Coverage on Oil & Gas Limited Partnerships
- Goldman Sachs Added Buckeye GP Holdings L.P. (BGH) to its Conviction Buy List
- UBS Upgrades Buckeye GP Holdings (BGH) to Buy
- Notable Mergers and Acquisitions of the Day 11/17: BAC, PCP, BGH
More News related to PCP
- Precision Castparts Declares Dividend At Quarterly Board Meeting
- Precision Castparts Corp. Presents Business Update At the Macquarie Aerospace & Defense Conference 2009
- Precision Castparts Corp. Delivers Record Operating Margins in Fiscal 2009 Fourth Quarter Results
- Wachovia Downgrades Precision Castparts (PCP) to Market Perform
- Precision Castparts (PCP) Reports Mixed Q3 Earnings
- Bank of America (NYSE: BAC) said it plan to exercise the remainder of its option to purchase ordinary shares of China Construction Bank Corporation from China SAFE Investments Limited (Huijin).
Bank of America acquired the option from Huijin in connection with its investment in CCB in June 2005. Bank of America expects the purchase of the option shares will be completed by the end of November.
Immediately following the purchase, Bank of America would hold about 44.7 billion H-shares of CCB, representing about 19.1 percent of CCB's issued shares. Bank of America currently holds approximately 10.75 percent of the issued shares.
- Precision Castparts Corp. (NYSE: PCP) has agreed to acquire Hackney Ladish, Inc.
The cash acquisition of Hackney Ladish will be immediately accretive to earnings. Subject to regulatory approvals, the acquisition is expected to be completed in December 2008, after which Hackney Ladish's results will be reported as part of the Forged Products segment.
- BGH GP Holdings, LLC announced that it is amending the terms of its cash tender offer for all of the outstanding common units of Buckeye GP Holdings L.P. (NYSE: BGH) not owned by it by increasing the offer price to $17.50 per common unit in cash.
The revised offer price is an increase of $0.50 per unit from BGH GP Holdings' prior offer of $17.00 per unit and represents a premium of approximately 22.5% above the closing price of the Partnership's common units on October 21, 2008, the date on which BGH GP Holdings announced its intention to make a tender offer for the Partnership's common units, and approximately 24.8% above the average closing price over the 30 days prior to that date. The aggregate consideration payable under the offer for the public stake is approximately $188 million.
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