Pricing of Offering, Market Activity Updates, Prestigious Rating, and Acquisition Agreement - Research Reports on AK Holding, Valero, Dow, Eastman and ConocoPhillips
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NEW YORK, September 16, 2014 /PRNewswire/ --
Today, Analysts Review released its research reports regarding AK Steel Holding Corporation (NYSE: AKS), Valero Energy Corporation (NYSE: VLO), The Dow Chemical Company (NYSE: DOW), Eastman Chemical Company (NYSE: EMN) and ConocoPhillips (NYSE: COP). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/6491-100free.
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AK Steel Holding Corporation Research Reports
On September 11, 2014, AK Steel Holding Corporation (AK Holding) announced that it has agreed to sell 35 million shares of its common stock at a public offering price of $9.00 per share. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 5.25 million shares of common stock. AK Holding also reported that its wholly-owned subsidiary AK Steel Corporation (AK Steel) has successfully priced a public offering of $430 million of 7.625% senior notes due 2021 (notes) at 99.325% of par to the public. Further, the notes will be fully and unconditionally guaranteed on a senior unsecured basis by the Company as well as by two wholly-owned subsidiaries of AK Steel - AK Tube LLC and AK Steel Properties, Inc. AK Holding and AK Steel will use the proceeds from both the offerings to pay the purchase price for AK Steel's acquisition of Severstal Dearborn, LLC. Both offering are scheduled to close on October 16, 2014, subject to customary closing conditions. The full research reports on AK Holding are available to download free of charge at:
http://www.analystsreview.com/Sep-16-2014/AKS/report.pdf
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Valero Energy Corporation Research Reports
On September 11, 2014, shares in Valero Energy Corporation (Valero) declined 2.14% to close the trading session at $49.87, following the Dow Jones Industrial Average that lost 0.12% over the same trading session. Shares in Valero opened the session at $50.53 and fluctuated between $49.61 and $50.95. A total of 10.82 million shares changed hands, which is significantly above its 30-day average volume of 5.61 million shares. The stock closed below its 50-day and 200-day moving averages of $51.04 and $51.44, respectively. The full research reports on Valero are available to download free of charge at:
http://www.analystsreview.com/Sep-16-2014/VLO/report.pdf
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The Dow Chemical Company Research Reports
On September 11, 2014, The Dow Chemical Company (Dow) announced that the Dow Jones Sustainability World Index has rated the Company as one of the top performers in the global chemical industry. According to the Company, Dow has received this recognition for the 14th time since the launch of the index. The Company informed that Dow has emerged as a leader in the Materials Industry Group for the third year in a row and has recorded a score of 100 in the Environmental Policy Management System category. Neil Hawkins, Corporate Vice President, EH&S and Sustainability at Dow, said, "Today, we are proud to be named once again to the Dow Jones Sustainability World Index, an honor reserved for only those who humbly yet relentlessly pursue improvements in the 'triple bottom line' - recording gains for the environment and society while consistently delivering business results." The full research reports on Dow are available to download free of charge at:
http://www.analystsreview.com/Sep-16-2014/DOW/report.pdf
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Eastman Chemical Company Research Reports
On September 11, 2014, Eastman Chemical Company (Eastman) announced that it has entered into a definitive agreement with Taminco Corporation (Taminco) to acquire the latter in a $2.8 billion deal, including net assumed debt of $1 billion. According to the terms of the agreement, Taminco stockholders will receive $26.00 in cash for each share of Taminco common stock. Eastman informed that the acquisition will - strengthen the Company's presence in attractive niche end-markets such as food, feed and agriculture; add an attractive world-class technology platform in alkylamines to Eastman's portfolio; and also benefit the Company's shareholders from corporate and operating cost synergies and revenue synergies. The acquisition of Taminco is expected to be accretive to 2015 EPS by greater than $0.35, excluding acquisition-related costs and charges, and to 2016 EPS by greater than $0.60. The Company expects to close the transaction by the year-end 2014. The full research reports on Eastman are available to download free of charge at:
http://www.analystsreview.com/Sep-16-2014/EMN/report.pdf
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ConocoPhillips Research Reports
On September 11, 2014, ConocoPhillips' (ConocoPhillips) stock gained 0.49% to close the trading session at $79.38, extending its gains from previous trading session. Shares in ConocoPhillips opened the session at $78.23 and fluctuated between intra-day low of $78.02 and intra-day high of $79.45, with 4.31 million shares changing hands. The stock has a 52-week high of $87.09 and a 52-week low of $62.74. The stock has surged 12.36% on YTD basis, as compared to S&P 500 that gained 8.07% over the same period of time. The full research reports on ConocoPhillips are available to download free of charge at:
http://www.analystsreview.com/Sep-16-2014/COP/report.pdf
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