On Monday, ReAble announced that it completed its merger with DJO (DJO), creating one of the largest orthopedic and vascular device companies in the world. ReAble will be renamed DJO Incorporated, and will remain a subsidiary of The Blackstone Group (BX).
Lyondell (LYO) shareholders approved their merger with Basell, a $12.2 billion deal expected to close before the end of the year, and Energy East (EAS) shareholders...
Textron Inc. announced Monday morning it will acquire aeronautics and defense company United Industrial Corp. [UIC] for approximately $1.1 billion. The offer is for $81 per UIC share, a roughly 7% premium to Friday's closing price of $75.62. The $1.1 billion deal for the unmanned-aircraft manufacturer includes a tender offer for 10 million common shares, due to begin around October 16, as well as additional UIC shares Textron plans to offer UIC bondholders. Textron, which makes Bell Helicopters and Cessna aircraft, believes UIC is a "superb strategic fit...in perfect...
William Trent submits:
Mid Cap Watch List member United Industrial Corporation (UIC) announced that holders of the 3.75% Convertible Senior Notes due 2024 (?Senior Notes?) can convert their Senior Notes into shares of UIC common stock during the calendar quarter from July 1, 2007 through September 30, 2007.
A holder electing to convert Senior Notes will receive either cash or 25.4863 shares of UIC common stock (or a combination of cash and common stock) per...
William Trent submits:
Hot on the heels of a strong earnings report, Mid Cap Watch List member United Industrial Corporation (UIC) announced that its Board of Directors authorized a new $50 million stock repurchase plan. The Board also authorized an additional $50 million of stock repurchases, for a total of up to $100 million, contingent on the company executing an amended or new credit facility of at least $200 million in capacity.
Hans Wagner submits:
United Industrial Corporation (UIC) designs, produces, and supports aerospace and defense systems through its wholly owned subsidiaries AAI Corporation, AAI Services Corporation, Aerosonde Pty Ltd, ESL Defence Limited, McTurbine Inc., and Symtx, Inc. Products and services include unmanned aircraft systems, including a complete family of advanced tactical unmanned aircraft systems - the Shadow 200, Shadow 400, and Shadow 600 systems. UIC also offers training and simulation systems that have helped train virtually all U.S. Navy and Air Force electronic warfare systems officers. In addition UIC provides automated aircraft...
SA Editor Eli Hoffmann submits: Here's a one page summary of leading stories from this weekend's (Aug. 21) Barron's, noting stocks to watch for Monday morning when the market opens and brief comments on the Barron's articles. Note: clicking on a stock ticker pulls up opinion, analysis and a quote for that stock; clicking on a headline takes you to the full Barron's article (paid subscription required). You can get this summary emailed to you every week by signing up here.
On my recent vacation, I had the opportunity to finish reading Thomas Friedman's excellent book, "The World Is Flat". Friedman puts the current globalization trends into historical context and, somewhat unknowingly, describes the upturn of a new long-term economic cycle. In reading Friedman's book, I was continually reminded of the Kondratieff Long Wave and how this powerful economic wave is actually what is causing the economic boom and social upheaval around the globe.
Friedman argues that a "perfect storm" of technology innovation (Internet and open-source software), financial crisis (Y2K and bursting of the Internet bubble), and business trends...
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