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company news: capella shareholders approve merger


mergers and acquisitionscapella shareholders approve mergercapella education co., minneapolis, held a special shareholder meeting friday and approved the company's merger agreement with strayer education inc., herndon, va.shareholders approved all three proposals on the agenda including: 80.7 percent of eligible shares for the company's merger agreement and 65.2 percent of shares to approve the nonbinding vote on compensation for executives.the deal is subject to standard closing conditions and regulatory approvals. it is expected to be finalized in the third quarter of 2018.






schafer: merger is a good fit for capella, strayer


some awfully entertaining reading can usually be found in the background of the merger section of the securities filings that companies prepare for shareholders when they need approval of a proposed deal.you can read all about the brinkmanship and posturing in these detailed narratives, all the back-and-forth of negotiations. and in this section you can see why the board of directors started thinking of selling in the first place, for sometimes when a deal is first announced it's not clear why the board would want to sell.shareholders will have no need to wait for a good explanation in the filings for the merger that capella education co. of minneapolis and virginia-based strayer education inc. announced monday. the case for bringing these two together, after only a quick read of the news






strayer to acquire capella education in $1.9b deal


herndon, va. — strayer education is tying up with capella education in a deal worth about $1.9 billion as the u.s. education department considers rolling back obama-era rules that would have erased federal loans for students defrauded by for-profit colleges.strayer university and capella university will continue to run as independent institutions with separate boards. both universities will operate under strayer education inc., with corporate headquarters in herndon, virginia. strayer education will be renamed strategic education inc.the transaction is expected to result in about $50 million in annual cost savings within 18 months of closing, which is targeted for 2018's third quarter.capella shareholders will receive 0.875 strayer shares for each capella share. strayer shareholders will o






whole foods shareholders approve merger with amazon


shareholders of whole foods market inc. approved the natural grocer’s takeover by amazon.com inc., a key step for the e-commerce giant to seal its biggest play yet in the more-than $700 billion food retail market.the $13.7 billion deal, including debt, was approved by whole foods shareholders on wednesday, the austin-based company said. amazon shareholders don’t need to sign off on the transaction.amazon and whole foods both...






sprint, t-mobile end merger talks


new york (ap) — wireless carriers sprint and t-mobile called off a potential merger, saying the companies couldn’t come to an agreement that would benefit customers and shareholders.the two companies have been dancing around a possible merger for years, and were again in the news in recent weeks with talks of the two companies coming together after all. but in a joint statement saturday, sprint and t-mobile said they are calling off merger negotiations for the foreseeable future.“the prospect of combining with sprint has been compelling for a variety of reasons, including the potential to create significant benefits for consumers and value for shareholders. however, we have been clear all along that a deal with anyone will have to result in superior long-term value for t-mobile’s sharehold






level 3 and centurylink shareholders approve merger – the denver post


shareholders from centurylink inc. and broomfield-based level 3 communications approved the merger of the two telecoms on thursday.the combined company will be based in monroe, la., which is centurylink’s headquarters. but the company will continue to have a presence in colorado and the denver area.according to sec filings, level 3 stockholders will receive $26.50 per share in cash and 1.4286 shares of centurylink stock for each level 3 share. level 3 shareholders will own 49 percent of the company once the deal is completed, which isn’t expected until sept. 30.in a statement, centurylink ceo glen f. post said, “this expanded network should allow us to bring substantial operational and service benefits to our enterprise customers, as well as an enhanced customer experience.”the merger has






capella, online education specialist, merging with business school operator


capella education co., the minneapolis-based company that runs one of the nation's biggest online universities, is merging with strayer education inc., bulking up to face greater demographic and competitive pressures.the all-stock deal, announced monday, valued capella at $930 million and sent the shares of both for-profit education companies higher.it brings under one corporate parent capella's online university, which has about 37,000 students, and strayer's physical campuses, which serve about 41,000 students."by putting the companies together, we can offer a wider and more diverse array of solutions to students as they look to gain skills," kevin gilligan, capella's chief executive, said in an interview.the combined company will take a new name, strategic education co., and be based in






tribune media shareholders vote in favor of merger with sinclair broadcast group


sinclair broadcast group is a step closer to taking over tribune media after shareholders of the chicago-based media company voted overwhelmingly to approve the proposed $3.9-billion acquisition.tribune media said more than 99% of the votes cast by shareholders at a special meeting thursday at the omni hotel in los angeles were in favor of the deal, which would give sinclair control of tribune’s 42 tv stations, including ktla channel 5 in los angeles.“today’s vote is an important milestone in the merger process and confirms that tribune stockholders strongly support this transaction and the value it delivers,” peter kern, tribune media’s chief executive, said in a statement. “we look forward to continuing our work with sinclair toward the closing of this deal.”the deal will give the baltim






fairpoint, consolidated shareholders approve $1.5b merger


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century communities, california-based builder agree to $336 million merger – the


century communities, a homebuilder based in greenwood village, and ucp inc., a builder based in san jose, calif., announced plans tuesday to merge in a deal valued at $336 million.century communities will pay ucp shareholders $5.32 in cash and 0.23 shares of newly issued century communities common stock for each share they hold, giving them a 16.5 percent ownership stake in the combined company.the two companies will operate in colorado and nine other states and have access to 117 communities and about 25,000 lots. last year, their combined sales ran more than $1.3 billion. moody’s said it may upgrade century communities’ debt ratings, given its larger size.“the combined company is expected to generate significant operating efficiencies, which should create a rate of revenue growth and inc






cabela’s shareholders approve sale to bass pro


sidney, neb. (ap) — cabela’s shareholders are giving a nod to the sale of the outdoor outfitter to rival bass pro shops for roughly $4 billion.the nebraska chain said tuesday that shareholders approved a deal, announced in october, which will pay them $61.50 per share.sporting goods retailers, like the rest of the retail sector, has been under pressure because of changing shopping patterns.company officials have said they expect the sale to close later this year, but banking regulators must still approve the sale of cabela’s credit card unit, which is part of the deal.most read storiesunlimited digital access. $1 for 4 weeks.after the buyout, the company will be based in bass pro’s hometown of springfield, missouri. it’s not yet clear how many of the roughly 2,000 workers at cabela’s headq






tribune media shareholders vote in favor of sinclair merger


tribune media shareholders on thursday “overwhelmingly” approved the company’s proposed acquisition by sinclair broadcast group, even as federal regulators slow down the tv station megamerger to allow for more public input.more than 99 percent of the votes cast by shareholders thursday morning at a los angeles hotel were in favor of the merger, according to tribune media. “today’s vote is an important milestone in the merger process and confirms that tribune stockholders strongly support this transaction and the value it delivers,” tribune media ceo peter kern said in a news release. “we look forward to continuing our work with sinclair toward the closing of this deal.”sinclair agreed to buy tribune media in may for $3.9 billion, plus the assumption of $2.7 billion in debt, creating what w






switzerland's clariant, huntsman of us in chemicals merger


geneva — swiss specialty chemicals maker clariant and the woodlands, texas-based huntsman corp. are merging to create a company with a market value of $13.8 billion.the companies said monday they plan to combine in "a merger of equals" through an all-stock transaction. the resulting company is to be named huntsmanclariant, with stock exchange listings in both zurich and new york.they say the deal will leave clariant shareholders with 52 percent of the merged company and huntsman shareholders with 48 percent.the new firm will have global headquarters in pratteln, switzerland and operational headquarters in the woodlands, texas. clariant ceo hariolf kottmann is to become huntsmanclariant's board chairman while huntsman president and ceo peter huntsman will be its chief executive.the companie






switzerland's clariant, huntsman of us in chemicals merger


geneva — swiss specialty chemicals maker clariant and the woodlands, texas-based huntsman corp. say they are merging to create a company worth some $20 billion.the companies said monday that they plan to combine in "a merger of equals" through an all-stock transaction. the resulting company is to be named huntsmanclariant, with stock exchange listings in both zurich and new york.they say the deal will leave clariant shareholders with 52 percent of the merged company and huntsman shareholders with 48 percent.the new firm will have global headquarters in pratteln, switzerland and operational headquarters in the woodlands, texas. clariant ceo hariolf kottmann is to become huntsmanclariant's board chairman while huntsman president and ceo peter huntsman will be its chief executive.the companie






uk asset managers standard life, aberdeen discuss merger


london — british asset management firms aberdeen and standard life are in talks about a possible merger that could create one of the country's largest fund managers.the move would create an 11 billion-pound ($13.5 billion) company, reflecting the combined market capitalization of the two firms, overseeing assets worth 660 billion pounds ($811 billion).standard life said in a statement saturday that the completion of a merger will be subject to shareholder approval. aberdeen shareholders would own 33.3 percent and standard life shareholders 66.7 percent of the combined group.standard life chairman gerry grimstone would become chairman of the board of the combined group, and aberdeen's chairman simon troughton would become deputy chairman.standard life will announce its intentions on making






vodafone's india's telecom unit merges with local company


new delhi — british telecom company vodafone's indian unit has announced a merger with idea cellular, a local company, creating the country's largest telecom operator with nearly 400 million customers.a joint statement from the companies on monday said vodafone will own 45.1 percent of the combined company and idea will have a 26 percent stake, while the rest will be owned by public shareholders after the merger, which is expected to be completed next year.at present, bharti airtel is india's biggest telecom player. the entry of reliance jio has led to a consolidation in the indian telecom sector.the merger values vodafone india at 828 billion rupees ($12.4 billion) and idea at 722 billion rupees ($10.8 billion), the statement said.idea cellular is owned by india's aditya birla group.






akzonobel confirms talks with axalta about coatings merger


the hague, netherlands (ap) — dutch chemicals and paints maker akzonobel is in “constructive” talks about a possible merger of its paints and coatings business with u.s.-based axalta.the two companies issued statements monday confirming the talks about a possible “merger of equals.”philadelphia-based axalta said in a statement that the company “will pursue such a transaction only if its board of directors determines that it is in the best interest of axalta to do so. there can be no assurances that a definitive agreement between the parties will be reached or on what terms.”earlier this year, akzonobel rejected repeated takeover bids by american rival ppg industries, the last offer worth $28.8 billion, saying they weren’t in the interests of shareholders.most read storiesunlimited digital






yahoo shareholders approve sale to verizon


yahoo’s shareholders have approved the sale of yahoo’s operating business to verizon in a vote held today and confirmed in a press release sent out following the meeting.the company’s stockholders also voted to approve the advisory vote on the compensation payable to yahoo’s named executive officers in connection with the completion of the transaction.the final voting results for each of the proposals will be reported on a current report on form 8-k, in accordance with the rules of the securities and exchange commission, yahoo said.it added that it anticipates the transaction will close on june 13, 2017.in february $350m was knocked off the agreed sale price, bringing it down to $4.48bn, after yahoo disclosed two massive data breaches (affecting some 500m accounts, and 1 billion accounts,






yahoo shareholders approve sale to verizon


yahoo’s shareholders have approved the sale of yahoo’s operating business to verizon in a vote held today and confirmed in a press release sent out following the meeting.the company’s stockholders also voted to approve the advisory vote on the compensation payable to yahoo’s named executive officers in connection with the completion of the transaction.the final voting results for each of the proposals will be reported on a current report on form 8-k, in accordance with the rules of the securities and exchange commission, yahoo said.it added that it anticipates the transaction will close on june 13, 2017.in february, $350 million was knocked off the agreed sale price, bringing it down to $4.48 billion, after yahoo disclosed two massive data breaches (affecting some 500 million accounts and






sky threatens to shut down sky news to aid fox takeover


image copyrightreuterssky has threatened to shut down sky news if the news channel proves to be a major obstacle in its takeover bid by rupert murdoch's 21st century fox.regulators are investigating the deal amid concerns that mr murdoch's media empire could become too powerful.sky told the competition and markets authority (cma) that the regulator should not assume "the continued provision" of sky news.bbc media editor amol rajan said it was a "credible threat".in a submission made to the cma last month, but published by the regulator on tuesday, sky said it "would likely be prompted to review" its position if "the continued provision of sky news in its current form unduly impeded merger and/or other corporate opportunities available in relation to sky's broader business".this would parti






sky threatens to shut down sky news to aid fox takeover


image copyrightreuterssky has threatened to shut down sky news if the news channel proves to be a major obstacle in its takeover bid by rupert murdoch's 21st century fox.regulators are investigating the deal amid concerns that mr murdoch's media empire could become too powerful.sky told the competition and markets authority (cma) that the regulator should not assume "the continued provision" of sky news.bbc media editor amol rajan said it was a "credible threat".in a submission made to the cma last month, but published by the regulator on tuesday, sky said it "would likely be prompted to review" its position if "the continued provision of sky news in its current form unduly impeded merger and/or other corporate opportunities available in relation to sky's broader business".this would parti






us antitrust regulators approve merger of dupont and dow


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promega files counterclaim to lawsuit filed by shareholders


fitchburg, wis. — promega corp. and its founder are firing back at shareholders who sued the wisconsin biotechnology company in 2016 for shareholder oppression.the lawsuit filed by shareholders nathan brand and ted kellner alleges that company founder bill linton bullied shareholders in order to keep majority control of the company.the wisconsin state journal reports the counterclaim alleges brand and kellner hatched a plot to take over the company and force promega's board to pay an exorbitant price for their shares.the shareholders' attorney says they have no comment on the case. they have until nov. 2 to respond to the counterclaims.promega sells 3,500 products used in research, drug discovery and dna identification. it has more than 800 employees in the madison area.






alpine immune sciences gets cash, stock listing in biotech merger


seattle biotechnology company alpine immune sciences has agreed to combine with nivalis therapeutics, a biotech in colorado whose dowry includes lots of cash and a stock market listing but not much else.seattle biotechnology company alpine immune sciences has agreed to combine with nivalis therapeutics, a biotech in colorado whose dowry includes lots of cash and a stock market listing but not much else.shareholders of alpine, which is run by former dendreon leader mitchell gold, will own 74 percent of the combined company, while current nivalis shareholders will own approximately 26 percent, the two said in a news release.the transaction values nivalis at $50 million, factoring in about $44 million in cash it expects to have when the deal closes. the combined company will be named alpine i






consolidated, fairpoint close billion-dollar merger deal


portland, maine (ap) — illinois-based consolidated communications and north carolina-based fairpoint have closed on a deal that created a telecommunications company operating in 24 states, including vermont, new hampshire and maine.shareholders approved the merger on march 28 and financing has been in place since december. all states have provided regulatory approval, as well.consolidated closed the $1.3 billion deal on monday.consolidated president and ceo bob udell says the company will be well positioned to expand services and attract new customers while maintaining local community support.most read storiessave over 90% on select subscriptions.the company says the deal makes consolidated the ninth largest fiber optic communications provider in the united states.






as industry consolidates, ppg retreats from akzonobel bid


pittsburgh (ap) — ppg industries is retreating from its attempt to take over akzonobel after repeated refusals to negotiate by the dutch chemicals company.there has been an aggressive push to consolidate in the industry because of falling revenue and thin margins.dupont and dow are attempting to complete a $62 billion merger. swiss specialty chemicals maker clariant and huntsman corp in texas recently announced their intent to become a single company with a market value of almost $14 billion.but there has been significant pushback from regulators who fear that the mergers will put tons of critical materials in the hands of only a few players, driving up costs for buyers and in the end, consumers.most read storiessale! get 90% off digital access.the dow, dupont deal has been postponed repea






t-mobile and sprint in talks of a merger, again


the stock price of both t-mobile and sprint have each increased in light of new rumors that talks of a merger between sprint and t-mobile have rekindled. the last time we heard of this was from german media in june.this morning, cnbc reported that “people close to the situation” have said that negotiations are weeks away from reaching a verdict with the chance of reaching an agreement up in the air. the two companies are said to be actively engaged in figuring out the terms of a possible agreement.this time around, softbank would become a large minority holder of t-mobile which would mean that t-mobile ceo john legere would be expected to lead whatever the resulting merger is. however, ceo of japanese telecom company: softbank (parent company of sprint) ceo masayoshi son wants to have a sa






trump white house seeks to ‘leverage’ pending merger with cnn’s parent company t


white house advisers have discussed using a proposed merger between cnn’s parent company—time warner—and at&t as a “potential point of leverage” in donald trump’s perpetual battle with what he dubs “the fraud news network”a senior administration official just admits this? https://t.co/o7jprs0ap3pic.twitter.com/ky4nzgqehe— dan friedman (@dfriedman33) july 6, 2017according to a senior administration officials who spoke with the new york times, the president’s contentious relationship with cnn “remains a wild card” in the pending time warner-at&t merger. the justice department, led by attorney general jeff sessions will decide whether to approve the deal. despite previously saying he would oppose the merger, trump’s antitrust pick has argued it would not violate antitrust laws, as arstechnica






uk payments firm close to $10 billion takeover by us rival


london — britain's largest payment processing company has agreed to a 7.7 billion pound ($9.9 billion) get taken over by u.s. rival vantiv.worldpay, which allows businesses to accept credit cards and online payments, said wednesday that the companies had "reached an agreement in principle on the key terms of a potential merger," though no official offer has been made.the announcement follows worldpay's confirmation tuesday that it had been in takeover talks with both cleveland-based vantiv and jpmorgan, news that boosted their stock 28 percent.the stock fell about 8 percent on wednesday to 3.73 pounds ($4.82) per share.under the terms of the potential merger, worldpay shareholders would receive a total value of 3.85 pounds per share. the offer comprises 0.55 pounds in cash, 0.0672 in new v






standard life and aberdeen asset management confirm merger talks


image copyrightthinkstockfund managers aberdeen asset management and standard life have confirmed they are holding talks about a possible all-share merger.it follows a report on sky news that the companies were exploring an £11bn merger.the move would create one of the uk's largest fund managers, overseeing £660bn-worth of assets.the companies said the deal was subject to a number of conditions, including shareholder approvals.under the terms of the potential deal, aberdeen shareholders would own 33.3% and standard life shareholders 66.7% of the combined group.standard life chairman sir gerry grimstone would become chairman of the board, with aberdeen's chairman simon troughton becoming deputy chairman.standard life and aberdeen's current chief executives, keith skeoch and martin gilbert,






sprint, t-mobile end merger talks – la times


"the prospect of combining with sprint has been compelling for a variety of reasons, including the potential to create significant benefits for consumers and value for shareholders. however, we have been clear all along that a deal with anyone will have to result in superior long-term value for t-mobile's shareholders compared to our outstanding stand-alone performance and track record," john legere, president and chief executive of t-mobile, said in a statement.






uk payments firm close to $10 billion takeover by us rival


london (ap) — britain’s largest payment processing company has agreed to a 7.7 billion pound ($9.9 billion) get taken over by u.s. rival vantiv.worldpay, which allows businesses to accept credit cards and online payments, said wednesday that the companies had “reached an agreement in principle on the key terms of a potential merger,” though no official offer has been made.the announcement follows worldpay’s confirmation tuesday that it had been in takeover talks with both cleveland-based vantiv and jpmorgan, news that boosted their stock 28 percent.the stock fell about 8 percent on wednesday to 3.73 pounds ($4.82) per share.most read storiessave over 90% on select subscriptions.under the terms of the potential merger, worldpay shareholders would receive a total value of 3.85 pounds per sha






trump’s sec helps insurance giant keep secrets


how do companies keep secrets? president donald trump’s securities and exchange commission ruled that a healthcare company seeking federal and state government approval for a controversial merger may block shareholders from voting on an initiative to compel the company to fully disclose its lobbying activities. last month, the sec’s division of corporation finance informed anthem that…






amazon buying whole foods for $13.7 billion


amazon is buying whole foods for $13.7 billion, the companies said friday. the deal values the grocer at $42 a share.whole foods (wfm) had been under pressure from investor jana partners, a hedge fund that lobbied for the high-end grocer to seek a buyer to reverse declining share price. shares had been trading at about $33 thursday; trading was halted friday morning on the news.the deal is expected to finish later this year, if amazon's shareholders approve it. it would make the combined company the seventh-largest food retailer in the u.s., according to greg wank, partner-in-charge of the food and beverage practice of accounting firm anchin." this makes them a major player in grocery and just adds more pressure on wal-mart, target and costco to not continue to lose share," he told cbs mon






vatican urges online protections for children


by nicole winfield | associated pressrome — the vatican secretary of state urged law enforcement agencies, governments and social media sites on tuesday to take responsibility to protect children from online sexual abuse and exploitation — a statement that came even as one of his diplomats is caught up in an international child porn investigation.secretary of state cardinal pietro parolin said the case of monsignor carlo capella was “very painful” for all involved.parolin said the vatican was treating the capella case with “utmost concern, utmost commitment” but also confidentiality to protect the integrity of the investigation. he spoke to reporters on the sidelines of a catholic church-sponsored conference on protecting children from online threats.subscribe to dubsdaily, our best warrio






vodafone’s indian telecom unit merges with local company


new delhi (ap) — british telecom company vodafone’s indian unit on monday announced a merger with idea cellular, a local company, creating india’s largest telecom operator, with around 400 million customers.vodafone will own 45.1 percent of the combined company and idea will have a 26 percent stake, while the rest will be owned by public shareholders after the merger, which is expected to be completed next year, the companies said in a joint statement.at present, bharti airtel is india’s biggest telecom player, with a market share of 23.6 percent and a customer base of 265.9 million. the entry of reliance jio has led to a consolidation in the indian telecom sector.the merger values vodafone india at 828 billion rupees ($12.4 billion) and idea at 722 billion rupees ($10.8 billion), the stat






between the streams: the last jedi, apocalypse now rpg, and more


dt’s weekly entertainment show, between the streams, is your guide to all of the test, most important, and (of course) dumbest new developments in streaming and entertainment, providing a handy recap of the week that was, and a preview for what’s ahead. follow us here every friday, or add us via rss, itunes, or stitcher at the links below to take bts on the road!      deep in the heart of winter, the biggest news this week is (as you may have guessed) the star wars episode viii title reveal, the last jedi. are they talking about luke? are they talking about rey? could this mean luke dies and rey takes over his mantle, or, as many internet supernerds have pointed out, could they be using the plural of the word — it’s jedi either way you slice it. on today’s show, we’ll be taking on the myst