|Bid||49.42 x 50000|
|Ask||49.74 x 50000|
|Day's Range||47.62 - 47.62|
|52 Week Range||40.62 - 85.15|
|Beta (3Y Monthly)||1.12|
|PE Ratio (TTM)||6.74|
|Forward Dividend & Yield||2.08 (4.60%)|
|1y Target Est||N/A|
Imerys Talc America, the U.S. unit of French group Imerys SA, said it filed for bankruptcy because it lacks the financial clout to defend against nearly 15,000 lawsuits over its talc mineral product, which is also used in cosmetics. Imerys said that while it continued to believe the lawsuits are without merit, the prospect of rising settlement and defense costs over the next few years prompted the decision to file for bankruptcy. In July, a Missouri jury ordered J&J to pay a record $4.69 billion (3.65 billion pounds) to 22 women who said asbestos in talc caused ovarian cancer.
The unit of Paris-based Imerys SA and two other subsidiaries filed for Chapter 11 protection in Delaware Wednesday, citing the more than 14,000 claims the company faces in U.S. courts. Most have been brought by women alleging Imerys’s talc caused their ovarian cancer. It will also corral the cases under a single judge and allow Imerys to pressure plaintiffs to accept lower settlements.
The company filed for chapter 11 protection Wednesday after spending tens of millions of dollars to defend itself against lawsuits alleging its talcum powder causes ovarian cancer and mesothelioma. The talc supplier faces claims from more than 14,600 people, a number that has grown dramatically in recent years in the wake of large verdicts against Imerys and baby powder maker Johnson & Johnson.
Imerys Talc America Inc, a supplier to healthcare conglomerate Johnson and Johnson Inc , said in a statement on Wednesday it was filing for Chapter 11 bankruptcy protection along with two subsidiaries. ...
The Missouri Supreme Court on Thursday halted an upcoming trial in a case brought by women who claim talc supplied by Imerys Talc America for use in Johnson & Johnson products gave them cancer, saying it wanted to consider a jurisdictional challenge by Imerys. It is the second major talc case the Missouri high court has stayed in recent weeks on jurisdictional grounds. Both were in the St. Louis' 22nd Circuit Court, which has issued several large verdicts against J&J and Imerys, including one for $4.7 billion in July.
The lawsuit brought by Terry Leavitt in Alameda Superior Court in Oakland is the first of over a dozen J&J talc cases scheduled for trial in 2019. The company is facing some 11,700 lawsuits over the safety of talc in its products. Leavitt's lawyer, Joseph Satterley, accused J&J in his opening statement of knowingly selling a dangerous product, according to an online broadcast by Courtroom View Network.
Johnson & Johnson faced continued concerns on Wall Street about the threat posed by lawsuits over the safety of the company’s signature baby powder. Shares fell 2.9% Monday, after dropping 10% Friday following news reports saying J&J knew for years some of its talcum powder contained asbestos. The slide continued even though J&J mounted an aggressive counterattack, including taking out full-page newspaper ads.
Telecom operator Iliad unveiled on Tuesday a new high-end set-up box with luxury audio speakers and embedded video applications which it sees reviving sluggish sales in France. Iliad's triangle-shaped white box, dubbed Freebox Delta, includes a Netflix subscription and Amazon's voice assistant Alexa among its key features, on top of six audio speakers developed by French luxury manufacturer Devialet.
Imerys SA, which supplies talc to Johnson & Johnson, isn’t taking chances as another jury weighs whether to sock the health-care giant with a punishing verdict. A unit of Imerys agreed to settle its part of a California woman’s lawsuit blaming both companies for causing her cancer with asbestos-tainted talc at the conclusion of a four-week state-court trial in Pasadena, just before the case was sent to jury for deliberations. In July, a St. Louis jury ordered J&J to pay $4.69 billion in damages to 22 women who blamed their ovarian cancer on exposure to asbestos in the company’s powders.
Telecom Italia SpA was the highest bidder in an Italian auction of airwaves for fifth-generation mobile services that raised at least $2.9 billion, as the industry piles into a technology whose commercial potential is yet to be tested. The former monopoly offered 951 million euros ($1.1 billion) for four blocks of spectrum, followed by Iliad SA with 749 million euros and Vodafone Group Plc’s local unit with 716 million euros, Italy’s ministry for economic development said on its website Tuesday. As a newcomer, France’s Iliad had a special right to bid for a reserved package of 700-megahertz frequencies, the most valuable.
The merger music is playing again in France’s telecom industry, two years after the last failed takeover attempt. Consolidation returned as a hot topic when Bloomberg reported in April that Bouygues SA was considering teaming up with investment firms to bid for Patrick Drahi’s struggling French business, Altice Europe NV’s SFR. Bouygues has since confirmed an approach, without naming the target.
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The majority shareholder of Iliad SA helped create much of the turmoil in the French mobile phone market by undercutting the prices charged by incumbents Orange SA, Bouygues SA and Altice Europe NV’s SFR. Now the tables have turned, and those rivals are beating Iliad with their own low-cost offerings. The upshot is that Iliad’s mobile and broadband subscriber numbers both fell in the first half.
Small-caps and large-caps are wildly popular among investors; however, mid-cap stocks, such as Imerys SA (EPA:NK) with a market-capitalization of €5.03b, rarely draw their attention. Despite this, the two otherRead More...
French roofing business Imerys has set final terms on a €580m (£516.6 million) leveraged loan with a heavy discount on a newly introduced €100m second-lien loan. A €480m B1/B+ rated seven-year term loan B has been priced at 475bp over Euribor with a 99 discount. “There are a lot of skeletons in the closet in the French building sector so it’s not too surprising Imerys struggled,” a banker away from the deal said.
Altice Europe NV fell the most in more than eight months after billionaire Patrick Drahi’s phone company laid bare the cost of recent broadband and mobile subscriber growth, underscoring concerns over its 32 billion-euro ($37 billion) debt pile. The carrier’s flagship French business, SFR, added 211,000 mobile subscribers, which it chalked up to network investments and better customer service. The company predicted free cash flow for its French unit at the low end of its forecast of 1.5 billion euros to 1.6 billion euros.
French telecoms operator Iliad (ILD.PA) said on Wednesday that it had lost customers in some parts of its business but won over others elsewhere, as it responded to media articles that it had been losing out to market leader Orange (ORAN.PA). On Tuesday, Iliad shares had slumped 7.7 percent following reports that a record number of mobile clients had defected in the second-quarter in favour of Orange. "The group wishes to issue the following statement after publication of rumours in the press," Iliad said on Wednesday.
Johnson & Johnson must pay at least $550 million in damages to women who claimed asbestos in the company’s talc products caused them to develop ovarian cancer, a St. Louis jury said. After reaching a unanimous verdict Thursday to award compensatory damages for 22 plaintiffs that averaged $25 million apiece, jurors will resume deliberations over how much to award in punishment damages. The women also sued a unit of Imerys SA, which supplied the talc to J&J. Imerys Talc America settled before trial on confidential terms.
Small-caps and large-caps are wildly popular among investors; however, mid-cap stocks, such as Iliad SA (EPA:ILD) with a market-capitalization of €8.32b, rarely draw their attention. However, generally ignored mid-caps haveRead More...
Attractive stocks have exceptional fundamentals. In the case of Imerys SA (ENXTPA:NK), there’s is a well-regarded dividend-paying company with a an impressive history of delivering benchmark-beating performance. In the followingRead More...