Monthly Archives: December 2010

Biglari Follow-up on $29 Bid for Fremont Michigan

BIGLARI HOLDINGS INC.175 EAST HOUSTON STREET, SUITE 1300SAN ANTONIO, TEXAS 78205TELEPHONE (210) 344-3400FAX (210) 344-3411 SARDAR BIGLARI, CHAIRMAN December 28, 2010 William L. JohnsonChairmanSpecial Committee of the Board of DirectorsFremont Michigan InsuraCorp, Inc.933 East Main StreetFremont, Michigan 49412 Dear Bill: Biglari Holdings Inc. currently owns 9.7% of the outstanding shares of common stock of Fremont…

Post Reorg GSI Group Reverse Split & Listing

BEDFORD, Mass.,Dec. 29, 2010 /PRNewswire-FirstCall/ — GSI Group Inc. (the “Company” or “GSI”) announced that the 1 for 3 reverse stock split previously approved by the Company’s Board of Directors and shareholders became effective today at the open of business. Following the reverse stock split, the Company has approximately 33.3 million common shares issued and…

Angelo Gordon Exchanges C&D Converts

On December 23, 2010, the transactions contemplated by the registered exchange offer described in the Restructuring Support Agreement were consummated and the Reporting Persons validly tendered all of their Convertible Senior Notes to the Issuer and the Reporting Persons did not withdraw them. In connection with the registered exchange offer, the Reporting Persons received 3,962.18…

Point Blank Solutions Financing Approved

Source: Bankruptcydata.com The U.S. Bankruptcy Court signed a final order authorizing Point Blank Solutions to obtain replacement post-petition secured financing. As previously reported, the official committee of unsecured creditors and official committee of equity security holders filed a motion for approval of a $25 million post-petition secured credit facility and an equity commitment agreement for…

Diana Shipping Inc. Announces Partial Spin-Off

ATHENS, Greece, Dec. 23, 2010 (GLOBE NEWSWIRE) — Diana Shipping Inc. (NYSE:DSX – News) (“Diana Shipping”), a global shipping company specializing in the transportation of dry bulk cargoes, today announced that its Board of Directors has approved the partial spin-off of its interest in the Company’s majority-owned subsidiary Diana Containerships Inc., of which Diana Shipping…

DryShips Plans Spinoff or IPO of Unit

ATHENS, GREECE–(Marketwire – 12/23/10) – DryShips Inc. (NASDAQ:DRYS – News) (the “Company” or “DryShips”), a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced today that it has entered into agreements with a first class Korean shipyard to purchase twelve high specification newbuilding tankers at a total purchase…

American Media Expects to Emerge By Year-End

New York, NY, December 20 2010 – American Media, Inc. (“AMI” or the “Company”) announced today that the U.S. Bankruptcy Court for the Southern District of New York has confirmed its Plan of Reorganization, clearing the way for AMI to emerge from its voluntary pre-packaged Chapter 11 reorganization by the end of 2010. The confirmed…

MSD Capital Follow-Up on Blueknight Energy

Item 4 of the Schedule 13D is hereby amended and supplemented as follows: “On December 21, 2010, the Reporting Persons received a written response to their letter dated December 16, 2010 from James C. Dyer, IV, the Chief Executive Officer of the General Partner. Mr. Dyer expressed that the General Partner continues to review and…

Pacholder HYF Declares Special Dividend

NEW YORK–(BUSINESS WIRE)– The Pacholder High Yield Fund, Inc. (NYSE AMEX:PHF) declared a special dividend of $0.205 per common share payable on December 30, 2010 to shareholders of record on December 28, 2010. The ex-date for the dividend is December 23, 2010. The dividend is in addition to the $0.060 per common share monthly dividend…

Post Reorg Global Power Pays Down Debt

TULSA, Okla., Dec. 20, 2010 (GLOBE NEWSWIRE) — Global Power Equipment Group Inc. (GLPW:$21.60,00$0.24,001.12%) (“Global Power”) announced today that it has paid down the term loan arranged upon emergence from bankruptcy in January of 2008 in its entirety. The balance on the term loan facility was $24.6 million as of September 30, 2010. “We continue…

Post Reorg GGP Declares Cash/Stock Dividend

CHICAGO–(BUSINESS WIRE)– General Growth Properties, Inc. today announced its Board of Directors has declared a common stock dividend of $0.38 per share, payable in a combination of cash and common stock. The dividend is payable on January 27, 2011, to stockholders of record on December 30, 2010. The cash component of the dividend will be…

Telenor Not Supportive of VimpelCom Transaction

Form 13D – Telenor Does Not Support Proposed VimpelCom Acquisition of Weather Investments (Fornebu, Norway — 20 December 2010) As formally communicated to VimpelCom Ltd.’s Chairman yesterday, based on the information available to it and recent developments, Telenor ASA has determined that the proposed acquisition by VimpelCom Ltd. of Weather Investments S.p.A. is not in…

Seneca Opposed to Dynegy-IEH Deal

Item 4. Purpose of Transaction Item 4 is hereby amended to add the following information: On December 15, 2010, the Company announced that it had entered into an Agreement and Plan of Merger (the “IEH Merger Agreement”) with IEH Merger Sub LLC, a Delaware limited liability company (“Parent”), and IEP Merger Sub Inc., a Delaware…

MMI Investments Calls on EMS Tech to Sell Co

December 20, 2010The Board of Directorsc/o William S. Jacobs, SecretaryEMS Technologies, Inc.660 Engineering DriveNorcross, Georgia 30092 Dear Members of the Board, During the four weeks since our meeting with Chairman Mowell, Director Bolton and members of senior management, we have spent considerable time and effort reviewing our analysis of EMS Technologies, Inc. (“EMS”). We have…

Attiva Capital: Current RHI Entertainment Plan Unfair

ITEM 4. Purpose of Transaction The Reporting Person (“Attiva Capital Partners, Ltd.”) believes that the current plan unanimously approved by both the lenders (led by ” J.P. Morgan Chase & Co”), the Management of the Company (“the Halmis”) and its Advisors (“Rothschild, Inc.”) doesn’t take into account the real value of the library and the…

Post Reorg Accuride’s Common to Trade on NYSE

EVANSVILLE, Ind.–(BUSINESS WIRE)– Today, Accuride Corporation , announced that NYSE Regulation, Inc. (NYSER) has authorized Accuride Corporation for listing on the New York Stock Exchange. It is anticipated that Accuride’s common stock will begin trading on the NYSE, under the symbol ACW, when the market opens on Wednesday, December 22, 2010.