Notable Mergers and Acquisitions of the Day 12/11: XL, RIMM
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More News related to XL
- XL Capital (XL) Posts Q4 EPS of $0.69, Tops by 1c
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- G4S Compliance & Investigations and XL Insurance Announce Arrest in Hurricane Rita Insurance Fraud Case With Restitution Awarded in the Amount of $500,000.00
- Trading Radar for 02/09: Coca-Cola (KO), Pulte Homes (PHM), Agrium (AGU), BJ Services (BJS), Baidu.com (BIDU) Report
- XL Capital Ltd to Present at Credit Suisse Financial Services Forum on February 11, 2010
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- Notable Mergers and Acquisitions of the Day 02/09: VOLC, MORN
- XL Capital Ltd's (NYSE: XL) commented on market rumors;
The Company remains focused on operating its business and meeting the needs of its customers and is committed to taking actions as necessary to maximize value for its shareholders. In that regard, as can be expected in the current environment, the Company is continuing to explore value-enhancing opportunities available to it and is being assisted in that effort by one of its long-standing financial advisors, Goldman, Sachs & Co.
Based upon the most recently available information, the Company anticipates that the estimated mark-to-market decline on its investment portfolio (comprised of changes in unrealized losses, other than temporary impairments and realized losses on securities sales) due to changes in credit spreads and interest rates since the end of the third quarter of 2008 to date would be largely in line with that reported for the third quarter of 2008. The Company notes that future market movements will occur between now and the end of the fourth quarter of 2008, and such movements will affect the mark-to- market on the investment portfolio that the Company will report for the fourth quarter of 2008.
In addition the Company estimates that it will report approximately $200 to $220 million in net investment fund affiliate losses from its alternative investment portfolio for the fourth quarter of 2008 (covering September, October and November).
- Research In Motion Limited (NASDAQ: RIMM) and Chalk Media Corp. today announced that the two companies have entered into an arrangement agreement for RIM to acquire Chalk, a publicly-held company based in Vancouver, British Columbia, in an all-cash transaction at a price per share of CDN $0.142, or CDN $23,125,000.
Concurrently with the execution of the Arrangement Agreement, RIM has made a loan to Chalk in the amount of CDN $2.2 million, which will provide additional working capital to fund Chalk's operations until the completion of the transaction.
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