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Stock Market & Financial Investment News

News Breaks
October 27, 2011
08:02 EDTHNH, MLNKModusLink grants Handy & Harman exemption to tax benefit plan
ModusLink Global Solutions (MLNK) announced that its board has determined to grant Handy & Harman (HNH) together with BNS Holding and Steel Partners, an exemption to the company's tax benefit preservation plan, pursuant to Section 28 of the plan. This exemption allows the HNH Group, which currently owns approximately 10% of ModusLink's outstanding shares, to purchase in the open market additional shares up to an amount that would result in the HNH Group owning an aggregate of approximately 14.9% of the company's outstanding shares. The board granted this exemption following a comprehensive review of the HNH Group's letter dated October 19 requesting such a waiver. In reaching its decision, the board determined that granting such a waiver would have no adverse impact on the time period for the use of ModusLink's net operating losses tax assets or the availability of these assets to ModusLink. The company noted that no other stockholders have contacted ModusLink since the adoption of the plan to request similar exemptions.
News For MLNK;HNH From The Last 14 Days
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April 29, 2015
08:09 EDTHNHHandy & Harman extends tender offer for shares of JPS Industries until May 15
Handy & Harman (HNH) said that its wholly owned subsidiary, Handy & Harman Group Ltd., through one of HNH Groupís subsidiaries, HNH Group Acquisition, has extended the expiration of its previously announced tender offer to purchase common stock of JPS Industries (JPST), to 5:00 p.m., New York City Time, on May 15, 2015, unless further extended. Under the tender offer, the Purchaser has offered to purchase up to 10,028,724 shares, or approximately 96.5% of the outstanding shares, of common stock of JPS, at a price of $10.00 per share in cash to all stockholders other than SPH Group Holdings LLC, a subsidiary of Steel Partners Holdings L.P. (SPLP), the parent company of HNH, and with respect to the shares owned by SPHG Holdings, in exchange for common stock of HNH. The tender offer had been originally scheduled to expire at 5:00 p.m., New York City Time, on February 26, 2015 and was extended by HNH on February 23, 2015 to 5:00 p.m., New York City Time, on March 9, 2015, was further extended by HNH on March 4, 2015 to 5:00 p.m., New York City Time, on March 23, 2015, was further extended by HNH on March 19, 2015 to 5:00 p.m., New York City Time, on April 3, 2015, was further extended by HNH on April 1, 2015 to 5:00 p.m., New York City Time, on April 17, 2015, and was further extended by HNH on April 14, 2015 to 5:00 p.m., New York City Time, on May 1, 2015. This latest extension to the tender offer is due to HNH continuing its previously announced discussions with the Company regarding a potential negotiated transaction. There is no assurance that HNH and the Company will enter into a definitive agreement. The depositary for the tender offer has advised that, as of the close of business on April 28, 2015, a total of approximately 215,896 shares, or approximately 2.1528% of the outstanding shares, of JPSí common stock, had been validly tendered into, and not properly withdrawn from, the tender offer.
April 27, 2015
11:19 EDTMLNKOptions with decreasing implied volatility
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