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Western Digital to buy SanDisk for USD 19 billion
2015-10-21 14:54:00| Telecompaper Headlines
(Telecompaper) Western Digital is expanding in the storage market with the acquisition of memory card maker SanDisk for USD 19 billion. The company agreed to buy SanDisk for USD 86.50 per share in a combination of cash and WD shares. Western Digital said the takeover will double its addressable market and expand its position in higher-growth segments. The combination also enables Western Digital to vertically integrate into NAND, giving it long-term access to solid state technology at lower cost. The company said it would maintain SanDisk's manufacturing joint venture with Toshiba after the takeover. The company expects to achieve annual synergies of USD 500 million from integrating SanDisk, within 18 months of closing the takeover, and the deal should add to EPS, excluding one-time costs, within 12 months. To help finance the acquisition, Western Digital is suspending its share buyback program and has agreed USD 18.4 billion in fresh debt. SanDisk's board supports the takeover, while its shareholders will have the final say. Pending shareholder and regulatory approval, the takeover is expected to close in Q3 2016.
ATC to buy 51% in Indian towers operator Viom for INR 76 bln
2015-10-21 14:39:00| Telecompaper Headlines
(Telecompaper) American Tower Corporation confirmed an agreement to buy a 51 percent stake in Indian towers operator Viom Networks for INR 76 billion (EUR 1 billion) from mobile operator Tata Teleservices and SREI Infrastructure Finance. The agreement includes conditions for ATC to buy the remaining 49 percent held by Tata Teleservices, Macquarie SBI Infrastructure Investments, SBI Macquarie Infrastructure Trust and IDFC Private Equity Fund. After completing the takeover, American Tower will merge its existing Indian portfolio of approximately 14,000 towers with Viom, which operates around 42,200 towers and 200 DAS in India. Started as a joint venture by Tata with local investors, Viom now serves nearly all of India's major mobile operators. The company generated INR 50 billion in rental and management revenue and INR 21 billion in gross profit in the three months to June 2015. Viom had INR 58 billion of debt at the end of September.
Tags: buy
indian
operator
towers
Snap-on Given Consensus Recommendation of "Buy" by Brokerages
2015-10-21 02:16:08| Appliances - Topix.net
Snap-on has been assigned an average recommendation of "Buy" from the six brokerages that are presently covering the company, Marketbeat reports . Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company.
Tags: buy
recommendation
consensus
brokerages
Telekom Austria AG Upgraded to "Buy" at Zacks
2015-10-21 00:58:32| Steel - Topix.net
The firm presently has a $14.00 target price on the stock. Zacks 's price objective would suggest a potential upside of 14.85% from the stock's previous close.
Tags: buy
austria
telekom
upgraded
5 Home Furnishings Stocks To Buy Ahead Of Big Holiday Season
2015-10-20 23:39:40| Furniture - Topix.net
According to research conducted by the International Council of Shopping Centers , retailers appear to be on the verge of a stronger holiday season than the one they experienced last year. 80% of polled shoppers plan to spend the same amount of money or more this holiday season compared to last, while 90% of people plan to make holiday purchases, up from 82%.
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