Monthly Archives: February 2011

Thermo Scientific Sells Units & Increases Buyback

Market Cap = $21.6 Billion WALTHAM, Mass.–(BUSINESS WIRE)– Thermo Fisher Scientific Inc. (NYSE:TMO – News), the world leader in serving science, announced today that it has signed definitive agreements to sell its Athena Diagnostics and Lancaster Laboratories businesses for a total of $940 million in cash. The company reached an agreement to sell Athena Diagnostics…

Toromont Ind Spinoff in the Works

OTTAWA, Feb 24 (Reuters) – Canadian industrial equipment supplier Toromont Industries Ltd (TIH.TO) reported a 13 percent increase in quarterly profit on Thursday and said a healthy backlog of business supports a positive outlook for 2011. The company, which sells, rents and services a broad range of Caterpillar Inc (CAT.N) heavy-construction and industrial equipment, said…

Dollar Thrifty Announces $100 mm Buyback

Market Cap= $1.5 Billion TULSA, Okla., Feb. 24, 2011 /PRNewswire/ — Dollar Thrifty Automotive Group, Inc. (NYSE:DTG – News) today announced that the Company’s Board of Directors has authorized a share repurchase program providing for the repurchase of up to $100 million of DTG stock. The share repurchase program is discretionary and has no expiration…

Carrols Restaurant to Spinoff Units

Market Cap=$152 mm SYRACUSE, N.Y.–(BUSINESS WIRE)– Carrols Restaurant Group, Inc. (Nasdaq:TAST – News), the parent company of Carrols Corporation, today announced financial results for the fourth quarter and full year ended January 2, 2011. Carrols also announced its intention to pursue the splitting of the Company’s business into two separate, publicly traded companies through the…

Amdocs Adds $1 Bil to Buyback

Market Cap = $5.6 Billion The board of directors has authorized a share repurchase plan allowing the repurchase of up to $1 billion of ordinary shares over the next 2 years. This plan is in addition to the $700 million authorization from April 2010, of which $198 million remained outstanding as of December 31, 2010…

Zoran Issues Letter

  Filed by Zoran Corporation Date: February 23, 2011 *** SUPPORT ZORAN’S DIRECTORS ON THE BLUE CONSENT REVOCATION CARD TODAY*** *** PROPOSED MERGER ANNOUNCED *** February 23, 2011 Dear Zoran Stockholder: Zoran has recently announced a proposed merger with CSR plc, which offers Zoran stockholders a significant premium. The transaction may also provide stockholders the…

RailAmerica Announces $50 mm Buyback

Market Cap= $732 mm “Given our strong cash position and cash flow, we have announced a $50 million share repurchase program. We see repurchasing our shares as an excellent investment, which complements our focus on building shareholder value through organic growth and acquisitions.” RailAmerica announced today that its board of directors authorized the repurchase of…

TJX Announces $1.2 Bil Buyback

Market Cap =$19.7 Billion Increase in Shareholder Distributions The Company also announced today its plans to repurchase approximately $1.2 billion of TJX stock during the Fiscal Year ending January 28, 2012. With approximately $600 million remaining at year end under the Company’s existing stock repurchase program, the Company’s Board of Directors approved a new stock…

Tim Hortons Announces $445 mm Buyback Program

Market Cap = $7.2 Billion OAKVILLE, ON, Feb. 23 /CNW/ – Tim Hortons Inc. (TSX: THI, NYSE: THI) today announced that it has obtained regulatory approval from the Toronto Stock Exchange (TSX) to commence a new share repurchase program for up to $445 million in common shares, not to exceed the regulatory maximum of 14,881,870…

WellPoint Increases Buyback to $1.6 Billion

Market Cap = $25.7 Billion INDIANAPOLIS, Feb. 23, 2011 /PRNewswire/ — WellPoint, Inc. (NYSE:WLP – News) today reaffirmed the Company’s previously disclosed earnings per share guidance of at least $6.30 for the full year of 2011. In addition, its Board of Directors declared a quarterly dividend to shareholders in the first quarter of 2011 of…

Chemed Announces $100 mm Buyback

Market Cap = $1.5 Billion CINCINNATI–(BUSINESS WIRE)– Chemed Corporation (NYSE:CHE – News) today announced that the Board of Directors has formally authorized $100 million available for stock repurchase under Chemed’s share repurchase program. These share repurchases will be funded through a combination of cash generated from operations as well as utilization of its revolving credit…

Dillard’s Announces $250 mm Buyback

See our earlier post on DDS dated 1/21/11) Market Cap = $2.5 Billion LITTLE ROCK, Ark.–(BUSINESS WIRE)– Dillard’s, Inc. (NYSE:DDS – News) (the “Company” or “Dillard’s”) today announced that the board of directors has authorized an additional share repurchase program authorizing the Company to repurchase up to $250 million of its Class A Common Stock….

Icahn Bids for Mentor Graphics

CARL C. ICAHN 767 Fifth Avenue, 47th Floor New York, New York 10153 February 22, 2011 Via Federal Express and Fax Board of Directors Mentor Graphics Corporation 8005 S.W. Boeckman Road Wilsonville, OR 97070-7777 Gentlemen: I hereby offer to have one or more of my affiliated entities purchase Mentor Graphics in a transaction, the form…

Discovery Comes to Terms with Tier Technologies

  Item 4. Purpose of Transaction Item 4 of the Schedule 13D is hereby amended by adding the following as the nineteenth, twentieth and twenty-first paragraphs thereof: On February 19, 2011, the Reporting Persons and the Company entered into an agreement (the “Agreement”) in connection with the Company’s 2011 Annual Meeting of Stockholders to be…

Icahn’s Pending Dynegy Acquisition is Terminated

HOUSTON–(BUSINESS WIRE)– Dynegy Inc. (NYSE:DYN – News) today announced that Bruce A. Williamson, pursuant to a mutual agreement with the Board of Directors, will resign as President and Chief Executive Officer, effective March 11, 2011. Mr. Williamson has also resigned as a director and Chairman of the Board, effective immediately. David Biegler, currently an independent…

Ramius Comments on Zoran’s Merger Announcement

Ramius Responds To Announcement Of Merger Between Zoran Corp And CSR PLC 02/22 09:03 AM Believes Transaction May Undervalue ZoranQuestions Whether Board Ran a Full and Fair Sale Process to Maximize Value for All Zoran ShareholdersStates that Change on the Zoran Board is Now More Important Than Ever and Urges Shareholders to Consent on the…

Red Mountain’s Initial 13-D on RadNet

RadNet Inc.; RDNT; Market Cap=$116 mm ITEM 4. PURPOSE OF TRANSACTION. Red Mountain acquired the Common Stock reported in this Schedule 13D for investment purposes because it believed that the Common Stock was undervalued and represented an attractive investment opportunity. Red Mountain has met with the management of RadNet and expects to maintain a dialogue…

Zoran Being Acquired

CSR PLC (“CSR”: LSE: CSR.L or the “Company”) and Zoran Corporation (“Zoran”: NASDAQ: ZRAN) have entered into a merger agreement (the “Merger Agreement”) under which Zoran will merge with CSR (the “Merger”) for an equity value equivalent to approximately US$679 million* (the “Transaction Value”). Under the terms of the Merger Agreement, it is proposed that…

Innovative Solutions Announces 1 mm Share Buyback

(Total shares outstanding = 16.8 mm) EXTON, Pa.–(BUSINESS WIRE)– Innovative Solutions & Support, Inc. (NASDAQ:ISSC) (the “Company”) today announced that the Board of Directors has approved a stock repurchase program pursuant to which the Company may repurchase up to 1 million shares of its common stock. The program will remain in effect until February 10,…