Corporations

Fortuna Advisors' 2021 Buyback ROI Report Ranks the U.S.'s Largest Share Repurchasers on their Buyback Performance

Retrieved on: 
Thursday, July 15, 2021
Stock market, Share repurchase, Repurchase agreement, Shareholder, Buyback, Financial market, Corporations, Economy, Business

The total dollar amount committed to share repurchases was the most impacted, dropping 55% quarter-over-quarter in Q2 2020, and 29% for the full year.

Key Points: 
  • The total dollar amount committed to share repurchases was the most impacted, dropping 55% quarter-over-quarter in Q2 2020, and 29% for the full year.
  • The market and economic volatility during 2020 led to suboptimal repurchase decisions for many issuers.
  • As market prices converge to intrinsic value over time, the increased value accrues to the company and its remaining shareholders.
  • The goal of this study is to help management teams understand how buyback programs can be optimized to deliver higher total shareholder returns.

First Citizens, CIT Receive FDIC Approval of Proposed Merger

Retrieved on: 
Wednesday, July 14, 2021
Mergers and acquisitions, CIT Group, Tyco International, Companies, Federal Deposit Insurance Corporation, CIT, Corporations, OneWest Bank, Ellen Alemany

The merger has already received approval from the Office of the North Carolina Commissioner of Banks.

Key Points: 
  • The merger has already received approval from the Office of the North Carolina Commissioner of Banks.
  • Completion of the proposed merger remains subject to approval from the Board of Governors of the Federal Reserve System, and closing is expected in the third quarter, subject to such approval and the satisfaction or waiver of other customary closing conditions.
  • Ellen R. Alemany, CITs chairwoman and chief executive officer, said: Were pleased to receive FDIC approval as we continue to work together toward the successful combination of our two companies.
  • CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a principal bank subsidiary, CIT Bank, N.A.

Trillion Energy Annual Meeting of Stockholders Adjourned to July 21, 2021

Retrieved on: 
Wednesday, July 14, 2021
Shareholders, Proxy statement, Proxy, Annual general meeting, Meeting, Articles, Corporations, Human communication

VANCOUVER, British Columbia and ANKARA, Turkey, July 14, 2021 (GLOBE NEWSWIRE) -- Trillion Energy International Inc. (Trillion or the Company) (CSE: TCF) (OTC: TCFF) (Frankfurt: 3P2N) announced that its 2021 Annual Meeting of Stockholders (the Annual Meeting) was adjourned to July 21, 2021.

Key Points: 
  • VANCOUVER, British Columbia and ANKARA, Turkey, July 14, 2021 (GLOBE NEWSWIRE) -- Trillion Energy International Inc. (Trillion or the Company) (CSE: TCF) (OTC: TCFF) (Frankfurt: 3P2N) announced that its 2021 Annual Meeting of Stockholders (the Annual Meeting) was adjourned to July 21, 2021.
  • The record date for the Annual Meeting was May 6, 2021 and shareholders previously should have received proxy materials relating to the Annual Meeting, including a notice and Proxy Statement that was also filed with the Securities and Exchange Commission.
  • The adjourned Annual Meeting will be reconvened on July 21, 2021 and will be held virtually at www.virtualshareholdermeeting.com/TCFF2021 .
  • You will need to provide your 16-digit control number that is on your proxy card to gain access to the Annual Meeting.

SEC Charges SPAC, Sponsor, Merger Target, and CEOs for Misleading Disclosures Ahead of Proposed Business Combination

Retrieved on: 
Tuesday, July 13, 2021
Law, Articles, Civil procedure, Contract law, Corporate finance, Criminal law, Due diligence, Corporations, Diligence, Lawsuit, Complaint

The SECs litigation is proceeding against Kokorich, against whom the SEC filed a complaint in the U.S. District Court for the District of Columbia.

Key Points: 
  • The SECs litigation is proceeding against Kokorich, against whom the SEC filed a complaint in the U.S. District Court for the District of Columbia.
  • In addition, the order finds that Stable Road repeated Momentuss misleading statements in public filings associated with the proposed merger and failed its due diligence obligations to investors.
  • The order finds that Kabot participated in Stable Roads inadequate due diligence and in filing its inaccurate registration statements and proxy solicitations.
  • The litigation against Kokorich will be handled by Melissa Armstrong and Fernando Campoamor and will be supervised by Thomas Bednar.

IHS Markit Declares Quarterly Cash Dividend in Third Quarter 2021

Retrieved on: 
Tuesday, July 13, 2021
Professional services, Data management, Technology, Finance, Banking, Accounting, Companies, Corporate finance, Markit, Corporations, Dividend, IHS, Informa

IHS Markit (NYSE: INFO), a world leader in critical information, analytics and solutions, today announced that its Board of Directors has declared a quarterly cash dividend in the third quarter of 2021, in the amount of $0.20 per share.

Key Points: 
  • IHS Markit (NYSE: INFO), a world leader in critical information, analytics and solutions, today announced that its Board of Directors has declared a quarterly cash dividend in the third quarter of 2021, in the amount of $0.20 per share.
  • The cash dividend is payable on August 13, 2021 to common shareholders of record at the close of business on July 30, 2021.
  • IHS Markit is a registered trademark of IHS Markit Ltd and/or its affiliates.
  • All other company and product names may be trademarks of their respective owners 2021 IHS Markit Ltd. All rights reserved.

1st CONSTITUTION ALERT: Bragar Eagel & Squire, P.C. Investigates Sale of FCCY and Encourages Investors to Contact the Firm

Retrieved on: 
Tuesday, July 13, 2021
Corporate finance, Articles, Financial economics, Corporations, Equity securities, Common stock, Constitution, Mergers and acquisitions, Board of directors, Stock

On July 12, 2021, 1st Constitution announced that it had entered into an agreement to merge with Lakeland in a transaction that values the former at approximately $244.40 million.

Key Points: 
  • On July 12, 2021, 1st Constitution announced that it had entered into an agreement to merge with Lakeland in a transaction that values the former at approximately $244.40 million.
  • Pursuant to the merger agreement, 1st Constitution stockholders will receive 1.3577 shares of Lakeland common stock for each share of 1st Constitution common stock owned.
  • Bragar Eagel & Squire is concerned that 1st Constitutions board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement.
  • Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for 1st Constitutions stockholders.

Middleby Will Not Increase Offer to Acquire Welbilt

Retrieved on: 
Tuesday, July 13, 2021
Retail, Restaurant, Bar, Home Goods, Manufacturing, Other Manufacturing, Food, Beverage, Economy, Corporations, Mergers and acquisitions, Business, Termination fee, Shareholder

We believe that the previously agreed terms of the Merger Agreement between Middleby and Welbilt offered significant long-term strategic value to the Welbilt shareholders through the ability to participate in substantial upside opportunity from Middlebys continued growth, while remaining attractive to our existing Middleby shareholders, said Timothy FitzGerald, CEO of Middleby.

Key Points: 
  • We believe that the previously agreed terms of the Merger Agreement between Middleby and Welbilt offered significant long-term strategic value to the Welbilt shareholders through the ability to participate in substantial upside opportunity from Middlebys continued growth, while remaining attractive to our existing Middleby shareholders, said Timothy FitzGerald, CEO of Middleby.
  • As a seasoned acquirer, we remain disciplined and committed to ensuring the best outcome for our Middleby shareholders.
  • In accordance with the terms of the Merger Agreement, Middleby will be entitled to a termination fee of $110 million to be paid by Welbilt simultaneously with the termination of the Merger Agreement.
  • 333-256653) that includes a joint proxy statement of Middleby and Welbilt that also constitutes a prospectus of Middleby.

Asia Broadband Completes Share Retirement and Reduces Total Outstanding Shares by 120 Million

Retrieved on: 
Tuesday, July 13, 2021
Stock market, Corporate finance, Equity securities, Corporations, Share, Economy

The reduction in the total outstanding shares of the Company was 13 million shares more than the 107 million share reduction previously approved and announced in May.

Key Points: 
  • The reduction in the total outstanding shares of the Company was 13 million shares more than the 107 million share reduction previously approved and announced in May.
  • The Companys initiative to create shareholder value led to the agreements with several third-party shareholders to retire the 120 million shares.
  • AABB expects to retire additional shares to the Company treasury in the near future with the ongoing plans to continue the shareholder value initiative.
  • Asia Broadband Inc. (OTC: AABB) is a resource company focused on the production, supply and sale of precious and base metals, primarily to Asian markets.

Etsy completes acquisition of Depop, the global fashion resale marketplace for Gen Z

Retrieved on: 
Tuesday, July 13, 2021
Etsy, Depop, Reverb.com, Online marketplace, Companies, Corporations, Corporate finance

Depop, a community-powered, purpose-driven marketplace to buy and sell unique fashion, extends Etsy's opportunitiesfurther into the high frequency apparel sector, specifically in the fast-growing resale space serving the Gen Z audience.

Key Points: 
  • Depop, a community-powered, purpose-driven marketplace to buy and sell unique fashion, extends Etsy's opportunitiesfurther into the high frequency apparel sector, specifically in the fast-growing resale space serving the Gen Z audience.
  • Josh Silverman, Etsy, Inc. CEO, said, "We believe Depop to be the resale home for Gen Z consumers with a unique offering and highly-engaged user base.
  • Etsy, Inc. operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world.
  • Etsy, Inc.'s "house of brands" portfolio also includes fashion resale marketplace Depop , musical instrument marketplace Reverb , and Brazil-based handmade goods marketplace Elo7 .

Etsy completes acquisition of Depop, the global fashion resale marketplace for Gen Z

Retrieved on: 
Tuesday, July 13, 2021
Etsy, Depop, Reverb.com, Online marketplace, Companies, Corporations, Corporate finance

Depop, a community-powered, purpose-driven marketplace to buy and sell unique fashion, extends Etsy's opportunitiesfurther into the high frequency apparel sector, specifically in the fast-growing resale space serving the Gen Z audience.

Key Points: 
  • Depop, a community-powered, purpose-driven marketplace to buy and sell unique fashion, extends Etsy's opportunitiesfurther into the high frequency apparel sector, specifically in the fast-growing resale space serving the Gen Z audience.
  • Josh Silverman, Etsy, Inc. CEO, said, "We believe Depop to be the resale home for Gen Z consumers with a unique offering and highly-engaged user base.
  • Etsy, Inc. operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world.
  • Etsy, Inc.'s "house of brands" portfolio also includes fashion resale marketplace Depop , musical instrument marketplace Reverb , and Brazil-based handmade goods marketplace Elo7 .