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NXP, Freescale Semiconductor agree merger

2015-03-02 08:06:00| Telecompaper Headlines

(Telecompaper) NXP Semiconductors and Freescale Semiconductor have agreed a merger creating a new chipmaker with over USD 10 billion in annual sales. The new company will be market leader in automotive semiconductors and general purpose microcontroller products, while also holding a strong portfolio in growth areas such as security, connectivity and processing. Synergies from the merger are expected to lead to cost savings of USD 200 million in the first year and USD 500 million by completion of the integration. Under the terms of the agreement, Freescale shareholders will receive USD 6.25 in cash and 0.3521 of a NXP ordinary share for each Freescale common share held at the close of the transaction. This price values Freescale at USD 11.8 billion, based on NXP's most recent share price, and and a total enterprise value of USD 16.7 billion including Freescale's net debt. Subject to regulatory and shareholder approval, the transaction is expected to close in the second half of 2015. NXP will fund the deal with USD 1.0 billion of cash on hand, USD 1.0 billion of new debt and 115 million NXP shares. After the takeover, Freescale shareholders will own 32 percent of the combined company.

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CNR meeting with union, hopes to reach deal or agree to arbitration

2015-02-22 22:19:32| Railroads - Topix.net

Canadian National Railway said on Sunday it is meeting with Unifor, the union representing 4,800 of its mechanical, clerical and intermodal staff, and hoped to reach a negotiated settlement or an agreement to enter binding arbitration over their contract dispute. Canada's No.

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Ball Corp, Rexam agree terms of US$6.6bn deal

2015-02-19 18:00:00| Daily beverage news and comment - from just-drinks.com

Ball Corp has agreed to acquire fellow can maker Rexam for GBP4.3bn (US$6.6bn) after the UK firm accepted a sweetened takeover offer.

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Seagate, Micron agree to storage alliance

2015-02-19 01:47:09| Semiconductors - Topix.net

Seagate has forged a strategic alliance with Micron Technologies, one of the biggest memory manufacturers, signing a multi-year agreement guarantees Seagate access to Micron NAND for making flash drives and promises strategic cooperation on future products. Seagate and its main rival Western Digital have been on acquisition tears, grabbing all kinds of SSD-related vendors as the flash-based drives eat into their hard disk business.

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Nations Agree Draft Text for Paris Climate Treaty

2015-02-18 22:54:00| Climate Ark Climate Change & Global Warming Newsfeed

Environment News Service: UN climate talks in Geneva concluded Friday with an agreed formal draft negotiating text for a new global legally-binding climate deal in an environment one observer described as one of "common purpose and goodwill." More than 1,300 people attended the meeting, representing governments, observer organizations and the media. The goal of the week-long meeting in Geneva was to create a draft for consideration at the UN Paris Climate Summit with the aim of having a new pact limiting greenhouse...

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