Terex Completes Sale of Mining Business to Bucyrus
Terex Corporation (NYSE: TEX -News) today announced that it has completed the previously announced sale of its Mining business to Bucyrus International (NASDAQ: BUCY – News) for $1 billion in cash plus approximately 5.8 million shares of Bucyrus common stock. The products divested by Terex in the transaction include hydraulic mining excavators, electric drive mining trucks, track and rotary blasthole drills, and the highwall miner, as well as the related parts and aftermarket service businesses, including the Company-owned distribution locations.
“The closing of this transaction marks a positive step toward the transformation of Terex Corporation into a machinery and industrial products business,” said Ronald M. DeFeo, Terex Chairman and Chief Executive Officer. [Read the full article]
Newmont Mining Corporation (“Newmont”) (NYSE:NEM – News) announced today that its wholly owned subsidiary, Newmont Mining Corporation of Canada Limited, acquired 4,000,000 units (“Units”) of Loncor Resources Inc. (“Loncor”) by way of private placement at a price of Cdn $1.25 per Unit for aggregate gross proceeds to Loncor of Cdn. $5,000,000. Each Unit is comprised of one common share of Loncor (“Common Share”) and one-half of one Common Share purchase warrant (“Warrant”) exercisable for one additional Common Share at a price of Cdn. $1.45 for a period of two years.
After giving effect to the exercise of all Warrants and assuming no other security holder converts its convertible securities, Newmont would own or control approximately 13% of the Common Shares (calculated based on 42,919,747 currently outstanding Common Shares).
Newmont acquired its securities in Loncor for investment purposes. [Read the full article]
SkillSoft PLC (Nasdaq:SKIL – News), a leading Software as a Service (SaaS) provider of on-demand e-learning and performance support solutions for global enterprises, government, education and small to medium-sized businesses, today announced that it has filed a preliminary Proxy Statement (comprising the preliminary Scheme Document) with the Securities and Exchange Commission in connection with the agreement reached on the terms of a recommended acquisition of the Company by a new company, SSI Investments III Limited, formed by funds sponsored by each of Berkshire Partners LLC, Advent International Corporation and Bain Capital Partners, LLC. Reference is made to the announcement made on February 12, 2010 by SkillSoft and SSI Investments III Limited pursuant to Rule 2.5 of the Irish Takeover Rules (the “Rule 2.5 Announcement”). [Read the full article]
Sunburst Hospitality is pleased to announce the January 28, 2010, sale of its Vista on Courthouse apartments to Equity Residential. The 220-unit, 11-story apartment tower is part of Sunburst’s Vista on Courthouse luxury residential community, located at the Court House Metro in Arlington.
The sale will allow Sunburst to focus its efforts on supporting the rapid sales pace of the Vista on Courthouse townhome and duplex residences. As of the date of this release, the townhomes are 50 percent sold and remain the fastest-selling townhomes in Arlington. With a total of 24 townhomes and 8 duplexes, Vista on Courthouse townhome and duplex residences offer high-end luxury living, with top-tier home interiors and community amenities comparable to those found in the newest urban resorts. [Read the full article]