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Monday, December 22, 2014

Market Chatter-Corporate finance press digest, (NASDAQ: CZR)

The following corporate finance-related stories were reported by media:* Caesars Entertainment Corp plans to acquire affiliate Caesars Acquisition Co in a stock-for-stock merger, the Wall Street Journal reported, citing people familiar with the matter. (on.wsj.com/1zndhq3)

Caesars Entertainment Corporation, is a diversified casino-entertainment provider. Shares of CZR traded higher by 2.43% or $0.32/share to $13.49. In the past year, the shares have traded as low as $8.51 and as high as $26.74. On average, 1686720 shares of CZR exchange hands on a given day and today's volume is recorded at 2660558.



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Takeover Digest - Wall Street Journal - Dec 22, (NASDAQ: ODP)

The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy. * Now that the United States has moved to normalize relations with Cuba, the countries will have to deal with decades-old claims from companies like Office Depot Inc, whose property was taken after Fidel Castro took power in 1959. (on.wsj.com/1CmEcmS)* One-third of the crude oil hauled from North Dakota's Bakken Shale region by railcars could be forced off the tracks and into expensive truck fleets in the next four years, according to a railcar-industry trade group. (on.wsj.com/13tJuxT)

Office Depot, Inc. (Office Depot) is a global supplier of office products and services. Shares of ODP traded higher by 3.1% or $0.26/share to $8.65. In the past year, the shares have traded as low as $3.84 and as high as $8.79. On average, 11060500 shares of ODP exchange hands on a given day and today's volume is recorded at 19772268.



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Sunday, December 21, 2014

American Apparel adopts new stockholder rights plan, (AMEX: APP)

Struggling retailer American Apparel Inc said it has adopted a new, one-year stockholder rights plan with a 10 percent trigger. "The board implemented the rights plan as an additional means to ensure that all American Apparel stockholders are treated fairly," the Los Angeles-based retailer said in a statement late on Sunday.Each right will entitle its holder to purchase, for $3.25 each, a number of shares of the company's common stock or substantially equivalent securities having a market value of twice such price, American Apparel said.The company has been approached by private-equity firm Irving Place Capital for a possible takeover, the Wall Street Journal reported on Thursday, citing sources.The retailer fired its Chief Executive Dov Charney last week, ending a tenure racked with sexual assault allegations and scandal.

American Apparel, Inc. is a vertically integrated manufacturer, distributor, and retailer of branded fashions basic apparel and accessories for women, men, children and babies. Shares of APP traded higher by 7.0% or $0.07/share to $1.07. In the past year, the shares have traded as low as $0.46 and as high as $1.45. On average, 1580810 shares of APP exchange hands on a given day and today's volume is recorded at 15434234.



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Fear factor fades as global M&A hits seven-year high, (NYSE: TRI), (TSE: TRI.TO)

Chief executives got their deal-making confidence back in 2014, emboldened by a clearer outlook for their businesses to take the global value for mergers and acquisitions (M&A) to their highest annual level since 2007. The total was boosted by a rush of large deals in the telecoms, healthcare and consumer sectors, with transactions, some of which had been contemplated for years, promising to cause a chain reaction as rivals move to defend their territory.In the latest example British telecoms group BT's move to purchase mobile operator EE is expected to put pressure on rivals to seek their own tie-ups as fixed-line and mobile networks and pay-TV services converge."The need to stay competitive and strengthen the core business is the main catalyst," said Wilhelm Schulz, head of M&A in Europe, Middle East and Africa (EMEA) at Citi.Global deal volume to Dec. 11 hit $3.27 trillion, up 40 percent from the same period last year, according to Thomson Reuters data. This was the highest level since 2007, when the total was $4.12 trillion during a leveraged takeover boom which saw private equity firms sign multi-billion-dollar cheques and load companies with debt.

Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 1.16% or $0.46/share to $40.23. In the past year, the shares have traded as low as $33.21 and as high as $40.66. On average, 795491 shares of TRI exchange hands on a given day and today's volume is recorded at 961046.

Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 1.11% or $0.51/share to $46.64. In the past year, the shares have traded as low as $36.86 and as high as $46.96. On average, 780449 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 3103281.



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Friday, December 19, 2014

Delaware court says C&J tie up with Nabors unit can proceed, (NYSE: CJES), (NYSE: NBR)

A merger between oilfield services provider C&J Energy Services Inc with a unit of Nabors Industries Ltd. can proceed, Delaware's supreme court ruled on Friday. The court overturned an injunction from a lower court that said C&J should have sought more offers before agreeing to the $2.86 billion cash and stock deal in June. A retirement fund for employees of the city of Miami had asked for the injunction.The court said the injunction was granted in "error" because all shareholders will have a chance to vote on the merits of the agreement, which plaintiffs said did not give adequate protections to C&J shareholders.The deal has drawn the attention of tax experts tracking so-called inversions, in which U.S. companies reincorporate abroad to cut their tax bills.The court said the transaction is unusual as C&J, a U.S. corporation, will acquire a subsidiary of Nabors, which is domiciled in Bermuda. But Nabors will retain a majority of the equity in the surviving company, which will be based in Bermuda to obtain more favorable tax rates, the court said.

C&J Energy Services, Inc. is a provider of hydraulic fracturing, coiled tubing, wireline and other complementary services with a focus on complex, technically demanding well completions. Shares of CJES traded higher by 4.98% or $0.68/share to $14.33. In the past year, the shares have traded as low as $11.38 and as high as $34.93. On average, 1964490 shares of CJES exchange hands on a given day and today's volume is recorded at 2894586.

Nabors Industries Ltd. (Nabors) is the land drilling contractor and land well-servicing and workover contractors in the United States and Canada. Shares of NBR traded higher by 14.63% or $1.74/share to $13.63. In the past year, the shares have traded as low as $9.91 and as high as $30.24. On average, 8916160 shares of NBR exchange hands on a given day and today's volume is recorded at 21121828.



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Madison Dearborn in the lead to take over Walgreen unit -sources, (NYSE: WAG)

Buyout firm Madison Dearborn Partners LLC is in advanced talks to acquire a majority stake in the infusion services business of U.S. drugstore chain operator Walgreen Co for more than $1 billion, according to two people close to the situation. Madison Dearborn has so far prevailed over other private equity firms in the auction for the unit, which is the largest U.S. provider of home-infusion services, the people said on Friday.Walgreen may decide not to sell if Madison Dearborn does not meet its price expectations, the sources, the sources, who asked not to be identified because the negotiations are confidential, cautioned.Walgreen and Madison Dearborn both declined to comment.With a staff of more than 1,600 clinicians, the unit for sale offers infusion services at home and at care centers across the United States. Its infusion therapies are used for medical conditions such as bleeding disorders and serious infections.

Walgreen Co. (Walgreens) together with its subsidiaries, operates as a retail drugstore chain in the United States. Shares of WAG fell by 1.55% or $-1.15/share to $73.23. In the past year, the shares have traded as low as $54.86 and as high as $76.39. On average, 5975950 shares of WAG exchange hands on a given day and today's volume is recorded at 8641434.



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