6:01 am 7 Days Group announces shareholders' approval of merger agreement (SVN) : Co announced that, at an extraordinary general meeting held today, the co's shareholders voted in favor of the proposal to approve the previously announced agreement and plan of merger dated Feb 28, 2013 by and among the co, Keystone Lodging, Keystone Lodging Acquisition and Keystone Lodging Holdings, pursuant to which Merger Sub will merge with and into the co with the co surviving the merger as a wholly owned subsidiary of Parent. ~ 88.3% of the co's ordinary shares entitled to vote at the extraordinary general meeting were voted in person or by proxy with respect to the proposal to approve and authorize the Merger Agreement and the Cayman Islands plan of merger and the transactions contemplated by the Merger Agreement, including the Merger, of which ~ 86.0% voted in favor of such proposal.
5:08 am On The Wires (:WIRES) :
- UPS (UPS) employees represented by the International Brotherhood of Teamsters have voted to approve a new contract. While the National Master contract was approved, the union today informed the company that the agreement covering UPS Freight employees and some local agreements will require additional negotiation.
- Thermo Fisher Scientific (TMO) announced that it has established the China Innovation Center in Shanghai, significantly expanding its research, development and training capabilities to support high-growth markets in the Asia-Pacific region.Thermo Fisher has invested $9.5 million in the new China Innovation Center to support its rapidly growing R&D organization, which is expected to add 200 to 300 engineers during the next two to three years.
- Technip (TKPPY) was awarded by Statoil ASA an important lump sum contract for pipelay and subsea installations for the Snhvit CO2 Solution project. For Technip, an "important" subsea contract is ranging from EUR50-100 mln.
- PCTEL (PCTI) announced the availability of its SeeHawk In-Building Test Suite. The SeeHawk IBTS helps carriers, neutral host providers, venue owners, DAS integrators, and RF engineers visualize and characterize their in-building wireless environments.
- AkzoNobel (AKZOY) announced its intention to divest its decorative paints stores for professionals in Germany to independent wholesale distributors. The move is intended to strengthen the performance of the company's German Decorative Paints business by focusing its activities on the distribution and marketing.
- Lattice Semiconductor (LSCC) announced the introduction of AEC-Q100-certified "Lattice Automotive" devices in its award-winning LatticeECP3 FPGA family.
- Global supercomputer leader Cray (CRAY) announced the European Centre for Medium-Range Weather Forecasts selected a Cray XC30 supercomputer and Cray Sonexion storage for their next operational facility.
- IBM (IBM) announced strong client and business partner support for the new version of its DB2 database software, now generally available.
- The Hertz (HTZ) announced the appointment of new General Sales Agents in Jordan and Lebanon to grow its outbound car rentals from the two Levant countries to more than 8,800 Hertz locations in 150 countries.
- Nova Measuring Instruments (NVMI) announced that a leading edge memory manufacturer recently placed a significant order for multiple software licenses of its NovaMARS 3D modeling solution.
- ACE Group (ACE) announced the launch of a new, dedicated financial lines team in Turkey and the appointment of Sare Bayat as Financial Lines Manager as it continues to build its liability insurance capabilities in the country.
3:52 am Dr. Reddy's launches Lamotrigine extended-release tablets (RDY) : Co announces that is has launched Lamotrigine Extended-Release Tablets (25 mg, 50 mg, 100 mg, 200 mg, 300 mg) a therapeutic equivalent generic version of Lamictal XR in the US market on June 25, 2013, following the approval by the FDA of Dr. Reddy's ANDA for Lamotrigine XR tablets.
The Lamictal XR brand and generic had combined U.S. sales of ~$300.5 mln MAT for the most recent twelve months ending in April 2013 according to IMS Health.
3:35 am Pluristem Therapeutics enters into strategic partnership and licensing agreement with Cha Bio&Diostech for the development and commercialization of PLX Cells for the treatment of CLI and IC in South Korea (PSTI) : Pluristem Therapeutics announces it has entered into an exclusive out-license and strategic partnership agreement with Cha Bio&Diostech for the use of Pluristem's PLacental eXpanded (PLX) cells for peripheral artery disease, specifically in two indications: the treatment of Critical Limb Ischemia, and Intermediate Claudication in South Korea.
Under the terms of the agreement, Cha will perform and fund multiple clinical trials in South Korea for treating CLI and IC using PLX-PAD under the supervision of the Korea Food & Drug Administration. Upon the first regulatory approval for a PLX product in South Korea, Pluristem and Cha will establish a joint venture (:JV) co-owned by the parties. The purpose of the JV will be to commercialize PLX cell products in South Korea. According to market research firm Clearstate, 1 million people in South Korea have PAD and the growth forecast for the number of people diagnosed and treated in the country is moderate-to-high.
In addition, and upon the completion of certain milestones, which is expected by September 2013, Pluristem will issue to Cha 2,500,000 shares of its common stock in consideration for the issuance to Pluristem of 1,011,504 shares of Cha Bio&Diostech, which reflect a total consideration of $10 mln for such Pluristem shares (based on average closing price of CHA common shares over the last 30 trading days) and accordingly valued at a price of $4 per each Pluristem share.
3:32 am Luxoft Holding prices ~4.1 mln share IPO at $17 per share, at the midpoint of the $16-18 expected range (:LXFT) :
2:13 am Eastman Kodak receives court approval for disclosure statement, cornerstone investment and agreement to arrange new financing (EKDKQ) : The U.S. Bankruptcy Court for the Southern District of New York today determined that the co's Disclosure Statement contains the information necessary to enable creditors to vote on the Plan of Reorganization. The Court also approved Eastman Kodak's recently announced Backstop Commitment Agreement and Rights Offering, as well as an agreement with leading financial institutions J.P. Morgan Chase, Barclays Bank and Bank of America Merrill Lynch to arrange new exit financing and post-emergence facilities of up to $895 mln.
Following approval of the Disclosure Statement, Kodak will commence the voting process on the Plan of Reorganization as outlined in the filings.
The cornerstone investment, effected through the backstop of the $406 mln Rights Offering, demonstrates market confidence in post-emergence Kodak, and will significantly strengthen the funding of Kodak's previously announced Plan of Reorganization. The rights offering will be fully backstopped by GSO Capital Partners, a subsidiary of The Blackstone Group, BlueMountain Capital Management, George Karfunkel, United Equities Commodities Company, and Contrarian Capital.
The Rights Offering, combined with the comprehensive financing package, will enable Kodak, at emergence, to repay its secured creditors under the current senior and junior Debtor-in-Possession loan facilities in full, finance its exit from Chapter 11, and strengthen its capital structure for the future.
2:02 am Full Circle Capital prices $18.75 mln of 8.25% notes due 2020 (FULL) :
1:59 am NanoString Technologies prices 5.4 mln share IPO at $10 per share, well below the expected range of $13-15 (NSTG) :
1:56 am PAREXEL announces $100 mln private placement on seven year notes with 3.11% coupon (PRXL) :
1:54 am Ciber adopts 10b5-1 trading plan (CBR) :
1:51 am Peabody Energy issues statement on National Carbon Plan (BTU) : Co releases the following statement: "Peabody agrees with President Obama that greater use of clean coal is essential. We also support his proposals to increase deployment of higher-efficiency generation; expand research in carbon capture, use and storage technologies; and advance coal generation in poor nations. We would go further and say that all nations need the clean, reliable, low-cost electricity that coal-fueled generation provides.
Such elements are a key part of the Peabody Plan, and it is good to also see these in the President's proposals. The Peabody Plan seeks to achieve universal energy access by 2050 in a way that puts people first and advances society's important goals of energy security, economic growth and environmental solutions.
At the same time, any actions that would reduce coal-fueled generation harm Americans, who would feel the same pain at the plug that we all feel at the pump. .."