National Oilwell Varco (NOV) announced a $3bn share repurchase plan (~9% of S/O). Press Release
Babcock & Wilcox (BWC) announced that its Board of Directors is evaluating a spinoff of the company’s Power Generation Business or Government & Nuclear Operations Business. Press Release
Jiayuan.com International (DATE) announced a special dividend ($20mm on a $190mm market cap). Press Release
Pulse Electronics (PULS) plans to delist from the NYSE to reduce its costs. Press Release
Entegra Financial (ENFC) announced that it has completed its mutual-to-stock conversion. Press Release
Pathfinder Bancorp (PBHC) announced that its shareholders have approved its plan of conversion. Press Release
Premier Exhibitions (PRXI) announced it has secured $8mm in bridge financing. Press Release
CDK Global (CDK) has officially spun off from Automatic Data Processing (ADP). The newly independent company begins trading as a member of the S&P MidCap 400 Index. Press Release
Masco (MAS) plans to spin off its struggling insulation-installation business and cut more than 40% of its headquarters staff. News Article
JDS Uniphase Corp (JDSU) is being urged by an Activist, Sandell Asset Management, to seek a buyer for one of its businesses as JDS pursues a plan to separate into two publicly traded companies. Sandell is also pushing PDSU to extract tax benefits from operating losses estimated to potentially be worth $10 a share. Press Release
Cosi (COSI) announces planned rights offering. Press Release
RealD (RLD) received a $12-a-share takeover bid from noted activist Starboard Value LP. Bloomberg
