Industry News

Quess Corp IPO subscribed 0.41 times on Day 1 [Mint, New Delhi]
Morgan Stanley's more cheerful outlook for iron ore prices in 2016, reported by Bloomberg, is probably the reason why NMDC Ltd's share was up by 1.91% on BSE on Wednesday. That's good news for Vedanta Ltd too, whose Goa unit is set to operate at a higher level in FY17--the Vedanta stock was up 3.29% on BSE. The investment banker revised up its price outlook for 2016 by 17% to $46 a tonne while its 2017 forecast was also revised upwards by 13% to $42 a tonne, from its earlier..."/>
Improved iron ore outlook props up Vedanta and NMDC shares [Mint, New Delhi]
Is 2016 the year of gold and silver? [Mint, New Delhi]
Kingfisher Airlines Ltd, the now defunct airline founded by Mallya, owes banks more than Rs.9, 000 crore in loans."/>
Vijay Mallya told to appear before money laundering court on 29 July [Mint, New Delhi]
T. Rowe Price Group and Dell have reached a settlement over the computer giant's $25 billion buyout, a deal the Baltimore money management firm opposed but voted in favor of in an embarrassing and unusual technical mix-up. The settlement resolves a lawsuit in which T. Rowe and other investors argued that Dell founder Michael Dell undervalued the company in his bid to take it private in 2013. A Delaware judge ruled in May that Dell underpaid by about $6 billion, but also found..."/>
T. Rowe Price and Dell reach settlement over 2013 Dell buyout [The Baltimore Sun]
Universal Insurance Holdings has expanded into Alabama and Minnesota and now writes policies in 13 states. The publicly traded company operates Universal Property and Casualty, which has supplanted state-run Citizens Property Insurance Corp. as the state's largest insurer. Through March 31, Universal had 555,866 commercial and residential policies in Florida, compared with 476,278 at Citizens."/>
Universal Insurance Holdings expands to 13th state [Sun Sentinel]
Allstate for her commitment to volunteerism. Her work on behalf of local nonprofit agencies has landed a total of $6,000 in grant money from The Allstate Foundation through the Helping Hands in the Community program. Over the last two years, The Allstate Foundation has awarded grants to the Blue Mountain Humane Society, Camp Fire, Walla Walla Sheriff's Foundation and the Blue Mountain Action Council."/>
BRIEF: Allstate honors local agent for volunteerism [Walla Walla Union-Bulletin, Wash.]
ASE concludes quarterly review [Jordan Times, Amman]
Aflac has made the compilation of "Best Workplaces in the Fortune 500," coming in at No. 5."/>
Aflac makes Fortune 500 'Best Workplaces' list [Columbus Ledger-Enquirer, Ga.]
Synovus Financial Corp. No. 16 on its recent list of "Best Places to Work in Georgia." An evaluation done by Pennsylvania-based Best Companies Group focused on several areas, including leadership, planning, corporate culture, communication, work environment, relationship with supervisor, pay and benefits, and training and development. Synovus was praised for its family education leave in which employees can attend special family activities..."/>
Georgia Trend names Synovus among best places to work [Columbus Ledger-Enquirer, Ga.]
PrivateBancorp will be for $47 per share-- a 31 percent premium to its Tuesday closing price. PrivateBank's bread and butter has been commercial banking, private banking and..."/>
Chicago's PrivateBancorp to be sold to Toronto-based CIBC for $3.8 billion [Chicago Tribune]
PNC Financial Services Group and Bank of New York Mellon both announced today that they received the nod from the Federal Reserve to raise their common stock dividends. The approvals of the banks' capital plans were part of the regulator's annual stress test analysis of major banks designed to ensure that the financial institutions could survive another financial crisis. Pittsburgh-based PNC said that its board would consider boosting the quarterly dividend in the..."/>
PNC, BNY Mellon OK'd for dividend hikes [Pittsburgh Post-Gazette]
Colliers International Group, which helped broker the deal, said Wednesday the new owner paid $10.5 million for the 296,000- square-foot shopping center on Dunn Road. Grandview Plaza is about 68 percent leased."/>
BRIEF: Grandview Plaza has new owner [St. Louis Post-Dispatch]
DOLLY VARDEN SILVER Idaho-based precious and base metals deposits developer Hecla Mining Company will make a takeover bid for all of the outstanding shares of Canada-based mineral exploration company Dolly Varden Silver Corp. not owned by Hecla and its affiliates for USD 0.53 cash per share, the company said. The bid will be subject to a minimum tender..."/>
M and A Navigator: Deal pipeline 30 June
National Storage Affiliates Trust has inked contracts to acquire 29 self storage properties located across six states, comprising approximately 2.1 million rentable square feet, configured in about 18,000 storage units for USD 190 m, the company said. This includes a 22- property portfolio in California for USD 154 m. These acquisitions are expected to be funded by a combination of USD 187 m of cash and USD 3 m of..."/>
National Storage Affiliates Trust to Buy 29 Self Storage Properties in USD 190m Deal
McKesson Corp. plans to create a new healthcare information technology company with US-based healthcare-related software and analytics provider Change Healthcare Holdings, Inc., the company said. The transaction is subject to closing conditions. McKesson will contribute the majority of its McKesson Technology Solutions businesses to the new company, with the exception of RelayHealth..."/>
McKesson, Change Healthcare to Form Healthcare Software Firm
Brixmor Property Group Inc. announced today the pricing of a secondary offering of 20,000,000 shares of its common stock by certain selling stockholders affiliated with Blackstone Real Estate Partners at $26.15 per share. The offering is expected to close on July 6, 2016, subject to customary closing conditions. Brixmor did not offer any shares of common stock in the offering and will not receive any proceeds from the sale of shares in this..."/>
Brixmor Property Group Prices Secondary Offering
Douglas Emmett, Inc., a real estate investment trust, announced that it has closed a secured, non-recourse $360 million interest only loan that will mature in June 2023. The loan bears interest at Libor plus 1.55%, which has been fixed at 2.57% per annum until July 2021 through an interest rate swap. The new loan is secured by a pool of five of Douglas Emmett's office properties."/>
Douglas Emmett Obtains $360 Million Term Loan Fixed at 2.57%

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