Penford Announces Merger Agreement with Ingredion

Penford to be acquired by Ingredion for $19.00 per share in all-cash transaction

CENTENNIAL, Colo.- Penford Corporation (PENX), a leader in ingredient systems for food and industrial markets, today announced that it has entered into a definitive merger agreement with Ingredion Incorporated (INGR) under which Ingredion will acquire all of the outstanding shares of Penford for $19.00 in cash per share. The transaction is valued at approximately $340 million in the aggregate and has been approved by the Boards of Directors of both companies.

Published: 15 October 2014
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Norbord Reports Third Quarter 2013 Results

Note:  Financial references in US dollars unless otherwise indicated.

Q3 2013 HIGHLIGHTS

  • Earnings per share of $0.50 diluted ($0.51 basic)
  • EBITDA of $45 million
  • North American shipment volumes to new home construction sector increased 25% year-to-date - reflecting the continuing US housing recovery
  • European markets continue to strengthen - OSB, particleboard prices up 8% year-over-year
  • Declared quarterly dividend of CAD $0.60 per share

Norbord Inc. (TSX: NBD, NBD.WT) today reported EBITDA of $45 million in the third quarter of 2013, compared to $66 million in the same quarter last year and $102 million in the second quarter of 2013.  North American operations generated EBITDA of $36 million in the quarter versus $58 million last year and $92 million in the prior quarter.  European operations generated EBITDA of $12 million in both the third and second quarters of 2013 versus $10 million in the third quarter last year.

Published: 01 November 2013
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Synthesis Energy Systems and GE to Jointly Market SES Gasification and GE Aeroderivative Gas Turbine Technologies for Small Scale Power Generation Solution

Synthesis Energy Systems, Inc. ("SES") (SYMX), a global energy and gasification technology company, and GE Packaged Power, Inc., a subsidiary of General Electric Company ("GE") have agreed to jointly evaluate and market a small scale power generation unit combining SES' gasification technology with GE's aeroderivative gas turbines. This application marketing agreement will focus on regions of the world where conversion of non-conventional feedstock sources such as lignite and coal wastes into synthesis gas fuel via SES' technology may be advantaged over conventional gas turbine fuel sources such as natural gas and fuel oil.  

Published: 02 April 2013
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Ferro Confirms Prior Receipt and Rejection of Unsolicited Proposal from A. Schulman

Advises Shareholders to Take No Action at This Time

Ferro Corporation (NYSE: FOE, the “Company”) today confirmed that its Board of Directors had previously received and rejected an unsolicited proposal from A. Schulman, Inc. (SHLM) to acquire all of the outstanding shares of Ferro common stock for $6.50 per share in cash and stock.

Ferro’s Board of Directors, in consultation with financial and legal advisors, unanimously determined that the A. Schulman proposal is not in the best interests of Ferro shareholders and that continued execution of the Company’s value creation strategy will deliver greater value to Ferro shareholders.

Published: 04 March 2013
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TPC Group Inc. Receives Non-Binding Proposal From Innospec Inc. and Blackstone

TPC Group Board Determines That the Proposal is Reasonably Expected to Lead to a Superior Proposal

TPC Group Inc. (TPCG), a leading fee-based processor and service provider of value-added products derived from niche petrochemical raw materials, today announced that it has received a non-binding proposal to be acquired by Innospec Inc. (IOSP) ("Innospec"). As part of this proposal, Innospec would pursue an acquisition of all of TPC Group's common shares for an all-cash purchase price in the range of $44--46 per share. The proposal is subject to certain conditions, including, among others, securing requisite debt financing, completion of due diligence and receipt of internal approvals. Equity financing for the proposed acquisition will be provided by a fund, Blackstone Capital Partners VI, L.P., managed by Blackstone on behalf of its private equity investors.

Published: 08 October 2012
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