iGate to delist Patni by purchasing shares from minority holders

iGate Corp has said that it will soon delist Patni Computer Systems from stock exchanges after acquiring shares from the company’s minority shareholders at a set price of Rs 520 per share and will complete the merger with itself.

US-listed iGAT

E, which had acquired Phaneesh Murthy-led Patni Computers in 2011, has announced plans to delist the company at the time of its acquisition. The American company holds a 81% stake in Patni and it will now have to spend about Rs 1,394.82 crore to complete the delisting offer.

The figure is much higher than what was estimated by the company when it made an offer for Patni’s 26,823,624 shares in March. iGate had set a floor price of Rs356.74 in its reverse book building process and indicated that it was ready to pay a maximum price of Rs430-450 per share.

Analysts say the de-listing of the shares of favorable for small investors who can benefit from the delisting price, which is expected to be close to previous open offer price of about Rs. 500. Patni will be de-listed from the domestic stock exchanges by mid-2012 and iGATE will have full ownership of the firm.

The American Depository Receipts (ADRs) of Patni will also be de-listed from the New York Stock Exchange. iGate said in a statement that it will beginning the process of de-listing through its subsidiaries, Asia iGate Solutions and iGate Global Solutions Ltd.

Australia’s Mitchell recommends $324 mln Aegis bid

July 29 (Reuters) – Australia’s Mitchell Communication Group (MCU.AX) said on Thursday its board had agreed to accept a A$363 million ($324 million) takeover bid from British media buying group Aegis (AEGS.L).

The company said Aegis had offered A$1.20 per share including options and performance rights.

Mitchell shares were earlier placed in a trading halt as Britain’s Daily Telegraph newspaper flagged the deal. The stock last traded at A$1.04. (Reporting by Michael Smith; Editing by Balazs Koranyi)

KKR shares look undervalued – Barron’s

July 25 (Reuters) – Some value-attuned hedge-fund managers are dissecting KKR’s business in a way that makes it look undervalued, Barron’s reported in its July 26 edition.

The long-anticipated U.S. stock debut of Kohlberg Kravis Roberts & Co (KKR.N) had proved a disappointment in mid-July as investors shied away from the private equity firm that made its name with the leveraged buyout of RJR Nabisco in 1988. [ID:nN15209250]

KKR debuted at $10.50, and has traded lower from there, in part due to some apparent technical selling by investors unable to exit the stock when it was listed in Europe, the paper said. It closed Friday at $9.50.

The newspaper also urged investors to try valuing potential future performance fees on the $27 billion of deals housed in the company’s private-equity funds and those of deals not yet done and funds not yet raised. (Reporting by Dhanya Skariachan; Editing by Diane Craft)

Thai Sahaviriya shares up 6 percent on Q2 profit hopes

(Reuters) – Shares in Sahaviriya Steel Industries (SSI.BK), Thailand’s largest hot-rolled steel coil maker, rose more than 6 percent on Friday due to optimism over

its second-quarter results.

At 12:04 a.m. ET, the stock was up 5.92 percent at 1.61 baht, having hit its highest since May 13 of 1.62 baht, while the main index was up 0.69 percent.

(Reporting by Arada Kultawanich; Editing by Alan Raybould)

Mizuho shares hit 2010 low on share offering launch

June 25 (Reuters) – Shares of Mizuho Financial Group (8411.T) fell to a new 2010 low after sources told Reuters the bank would decide on Friday to sell up to 6 billion new shares in its planned global offering. [ID:nTKG006783]

Stocks | Global Markets | Financials

An issue of that size would increase the total number of shares outstanding by up to 38 percent.

Shares of Mizuho were down 1.94 percent at 152 yen as of 0434 GMT. Earlier the stock fell as low as 151 yen, the lowest point so far in 2010.

Contaminated run-off from fire reaching wetlands

Contaminated water from a fire at a frozen food factory at Wingfield has been flowing into wetlands in northern Adelaide.

The fire at Rand Refrigerated Logistics is estimated to have left a damage bill of up to $10 million.

The company has moved to offices nearby and says frozen food supplies to supermarkets will not be disrupted despite the loss of stock.

Clive Jenkins from the Environment Protection Authority says water used to fight the blaze is now contaminated as it flows into the Barker wetlands.

“The quality of the water was mainly organic chemicals in nature, dairy products and plastic containers,” he said.

“The wetland is well and truly capable of assimilating those so there’s very little risk.”

The Metropolitan Fire Service says the blaze smouldered all weekend but is finally out.

India steps in to tackle Lankan drug shortage

Colombo, May 15 — India has stepped in to help Sri Lanka overcome a severe shortage of medicines including the fast depleting stock of saline in hospitals across the country. A worried Ministry of Healthcare and Nutrition had to request the Sri Lankan air force (SLAF) to fly special missions to India to pick up bulks of saline bottles to supply to hospitals and health care units in cities, towns and villages. A team of senior officials from the healthcare ministry is also expected to fly to Mumbai to speed up the process of acquiring stocks of dozens of categories of life saving medicine as well.

“The first two flights came back with 27,750 bottles of saline each. The third flight from Mumbai is expected to bring back another 25,000 bottles of saline,” Healthcare Ministry’s C Samarawikrama said.

Fire engulfs Ajmer battery factory

Ajmer (Rajasthan), May 8 (ANI): A massive fire gutted a battery factory in Rajasthan”s Ajmer city.

Around eight to nine fire tenders rushed to the spot and brought the fire under control.

“The factory had a large stock of batteries and raw materials. We don”t know the reason how the factory caught fire, but we reached here with all our fire tender vehicles and even called our staff from their homes. The intensity of the fire was very high but most importantly the fire did not spread to the adjacent areas,” said Fire Officer Habib.

“Our motive was to control the fire as there was a godown of Ajmer gas nearby, where oxygen and carbon dioxide gases are stored. The godown might have caught fire. So our primary job was to cordon off the area and then nearly 8-9 fire tenders helped in bringing the fire under control,” he added.

Raw materials and batteries worth hundreds of thousands were reportedly damaged in the fire that took place on Friday evening. (ANI)

It’s Full Steam Ahead for Hall of Fame Beverages, Inc.

LOS ANGELES, CA, May 05 (MARKET WIRE) —
Hall of Fame Beverages (PINKSHEETS: HFBG) is excited to announce that the
Company has secured funding necessary to commence production of its
flagship products. The Company would like to emphasize that the funding
was not secured from the sale of Hall of Fame Beverages stock. The
Company expects to begin the production of Grandmama’s Sweet Southern
Tea(TM) as well as the repackaged Atomic Dogg Super Soda(TM) in mid-May.
Although Atomic Dogg will have a new look, it will feature its
established award winning flavor and formulation. The initial production
will conclude just in time to capture the lucrative peak summer selling
season allowing the Company to take advantage of the increased revenues.
Upon completion of the production run, the products will immediately be
shipped to the Company’s established distribution channels.

“We are very excited about the accelerated progress for 2010. It has been
a long road thus far, but all the hard work is beginning to pay off.
Although our initial schedule was to produce only A.N.D. in May, because
of increased demand, we feel it is necessary to facilitate the production
of all the core brands including Grandmama’s Sweet Southern Tea and
Atomic Dogg Super Soda. We intend to complete the three production runs
in the same month. Big things are ahead of us. This is only the first
step in a long and rewarding journey,” states Larry Twombly, Hall of Fame
Beverages CEO.

The initial run of the A.N.D. products are on schedule to be produced
mid-May and will be shipped to the North East region for immediate
distribution. The Company is currently working to secure additional
funding that would be utilized in additional productions that would allow
for an earlier West Coast launch than was previously discussed. The
Company will continue to keep the shareholders informed as it proceeds
and progresses with many future developments.

It has come to the Company’s attention that some confusion among the
shareholders exists concerning the relationship between Hall of Fame
Beverages, Inc. and Party Dogg Llc. Party Dogg Llc is a broker and
marketing company that was established to aid in the relationships
between Hall of Fame Beverages and other distribution sources. Party Dogg
Llc does not have ownership in any of the Hall of Fame Beverages
products. They are purely a facilitator.

We welcome the relationship between Party Dogg Llc and Hall of Fame
Beverages and feel this will enhance our business efforts with a long
term association.

About Hall of Fame Beverages

Hall of Fame Beverages, Inc. is a new lifestyle company dedicated to
building long-term success through the creation, manufacture,
distribution, and marketing of innovative non-alcoholic beverages
recognized for their fresh, standout brand identities that rise above the
plethora of average products. Hall of Fame Beverages along with its
strategic V-Group partners is a team of visionary and seasoned beverage
industry executives who intend to leverage their expertise and their
established resources in beverage commerce to make Hall of Fame Beverages
one of the industry’s big winners via its signature brand product line
called A.N.D. (Antioxidant Nutritional Drinks), as well as through
multiple innovations just on the horizon.

“Safe Harbor Statement”

Under The Private Securities Litigation Reform Act of 1995: The
statements in the press release that relate to the Company’s expectations
with regard to the future impact on the Company’s results from new
products in development are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. The results
anticipated by any or all of these forward-looking statements may not
occur. The Company undertakes no obligation to publicly release the
result of any revisions to these forward-looking statements that may be
made to reflect events or circumstances after the date hereof, or to
reflect the occurrence of unanticipated events or changes in the
Company’s plans or expectations.

Contact:
Hall of Fame Beverages Inc.

http://www.halloffamebeverages.com/

Investor Relations
info@halloffamebeverages.com

Copyright 2010, Market Wire, All rights reserved.

How the net has made William Shatner richer by $600M

New York, May 04 (ANI): ‘Star Trek’ star William Shatner, who asked for stocks instead of cash when he became pitchman for the Internet travel company Priceline.com in 1997, has made a startling 600 million dollars – thanks to his early decision.

According to The Toronto Sun, Priceline’s shares are currently trading close to 300-dollar apiece. And although the company won’t disclose how many shares Shatner receives, it’s reported to be plenty.

A decade ago during the dot.com bust, the stock was selling for less than 2-dollar a share, reports The New York Post.

It was around the same time Shatner got into the commercials. (ANI)

UK women rushing to buy fake eyelashes to look like Cheryl Cole

London, April 28 (ANI): Women in Liverpool, Newcastle and Manchester are rushing to get fake eyelashes to copy the look of stars like Cheryl Cole.

According to Debenhams, there are girls who wear three pairs of the eyelashes at the same time to look attractive, reports The Daily Express.

Last year, sales increased by more than 1,000 per cent in the company’s stores.

Natural-looking glue-on strips cost 5-pound per pair, while extravagant 15 pounds lashes dotted with crystals are a sell-out.

“We have had to send emergency stock to certain stores to cope with the Friday and Saturday night demand,” said Sarah Meadows, cosmetics buyer at Debenhams. (ANI)

Lehman seeks $110 million back for tax overpay

(Reuters) – Lehman Brothers Holdings Inc (LEHMQ.PK) has sued the U.S. government, asking for the return of some $110 million that the bankrupt investment firm said it overpaid in taxes and penalties in 1999 and 2000.

Tax refunds paid to a bankrupt company usually become part of the estate and can be allocated to creditors. Representatives for Lehman were unavailable to comment on how any possible tax returns might be allocated in this case.

A U.S. Internal Revenue Service spokesman said the IRS can not discuss or disclose information about a U.S. taxpayer.

Lehman, which declared bankruptcy in September 2008, said it is entitled to a refund of federal income taxes and penalties they overpaid for dividends paid for borrowed stock.

The case is In re: Lehman Brothers Holdings Inc, U.S. Bankruptcy Court, Southern District of New York, No. 08-13555.

(Additional reporting by Santosh Nadgir in Bangalore)

(Reporting by Chelsea Emery, editing by Dave Zimmerman)

Russia’s Kopeika eyes IPO in late 2010 – sources

MOSCOW, April 14 (Reuters) – RussiaN grocery chain Kopeika is considering an initial public offering of its stock by the end of the year or in early 2011 to raise $300-$500 million to pay down debt, sources told Reuters on Wednesday.

A banking source said Kopeika was in the process of choosing organisers while a second source familiar with the company’s plans, said a final decision on the IPO would be taken by the end of April. (Reporting by Maria Plis and Olga Popova, writing by Dmitry Zhdannikov, Editing by Alfred Kueppers)

U.S. SEC mulls identification for high-frequency traders

WASHINGTON, April 14 (Reuters) – U.S. securities regulators are considering requiring that high-frequency traders reveal their identities and disclose their trades — the regulator’s latest attempt to get a grip on how the lightening-fast trades are shaking up equity markets.

Financials

At a meeting Wednesday, the Securities and Exchange Commission will consider proposing rules to tag high-frequency traders with ID numbers and give the SEC access to information on their trades. This would allow the SEC to analyze the fast traders’ activities as well as the impact their trades have on the markets.

The SEC is already examining whether additional rules are needed to curb fast traders, or firms that use sophisticated algorithms to buy and sell stock in a fraction of a second.

The rapid trading is estimated to account for some 60 percent of all U.S. equity trading

“The need for the commission to consider monitoring these entities is heightened by the fact that large traders, including high-frequency traders, appear to be playing an increasingly prominent role in the securities markets,” the SEC said in a statement.

At the same meeting, the SEC will consider proposals to ensure investors have fair access to the options markets. (Reporting by Rachelle Younglai, editing by Maureen Bavdek)

Russia may slap 8.5 pct export duty on potash

MOSCOW, April 14 (Reuters) – Russia’s anti-monopoly agency will support proposals to introduce a 8.5 percent export duty on potash, its head Igor Artemyev told reporters on Wednesday.

“We are supporting the proposal by the customs service… We have supported it because Uralkali and Silvinit have begun a speedy increase of prices on the domestic market,” he said adding that the final decision would be taken by a commission of first deputy prime minister Igor Shuvalov.

Industry sources have told various media in the past month the government could introduce duties of between 5 and 15 percent in comments leading to sharp fluctuations of potash producers Uralkali (URKA.MM) and Silvinit (SILV.RTS).

Uralkali’s stock fell by around one percentage point on the news on Wednesday to trade 0.5 percent down at 0759 GMT. (Reporting by Vladimir Soldatkin, writing by Dmitry Zhdannikov, Editing by Toni Vorobyova)

Bruker stock could climb on rising sales-Barron’s

NEW YORK, April 11 (Reuters) – Biotech toolmaker Bruker Corp’s (BRKR.O) shares could climb as business and the economy improves this year, financial weekly Barron’s said.

Stocks | Healthcare

The paper reported in its April 12 edition that Bruker shares could rise from a current $14.50, to $18 as its sales rise 10 percent a year — twice as fast as its rivals.

Bruker, which is based in Billerica, Massachusetts, is receiving a boost from a pick-up in government, academic and corporate research spending as the economy improves.

Brean Murray Carret analyst Jose Haresco is quoted in the article as saying Bruker stocks may rise 33 percent within the next 12 months to about $18.

“Bruker has a loyal customer base, its high-tech equipment allows it to charge a premium,” Haresco said. (Reporting by Yinka Adegoke, editing by Maureen Bavdek)

Lazard stock could get bump if it cuts pay -Barron’s

NEW YORK, April 11 (Reuters) – Shares in Lazard Ltd (LAZ.N) could rise more than 35 percent if the financial advisory and asset management firm lowers the compensation it pays to employees, said financial weekly Barron’s.

Stocks | Funds News | ETFs News | Financials

The paper, in its April 12 issue, said the firm paid 86 percent of its revenue into compensation and benefits in 2009, compared with 36 percent at Goldman Sachs (GS.N) and above the industry standard of around 50 percent.

It said Lazard shares recently trade around 16 times 2010 earnings of $2.25 a share, which the paper said was at a discount to the stocks of rival financial advisory specialists Evercore Partners (EVR.N) and Greenhill (GHL.N) because investors doubt that Lazard is serious about trimming compensation.

Barron’s said at a 50 percent compensation ratio Lazard 2010 earnings could hit $3.34 a share. (Reporting by Yinka Adegoke; editing by Gunna Dickson)

Bruker stock could climb on rising sales-Barron’s

NEW YORK, April 11 (Reuters) – Biotech toolmaker Bruker Corp’s (BRKR.O) shares could climb as business and the economy improves this year, financial weekly Barron’s said.

Stocks | Healthcare

The paper reported in its April 12 edition that Bruker shares could rise from a current $14.50, to $18 as its sales rise 10 percent a year — twice as fast as its rivals.

Bruker, which is based in Billerica, Massachusetts, is receiving a boost from a pick-up in government, academic and corporate research spending as the economy improves.

Brean Murray Carret analyst Jose Haresco is quoted in the article as saying Bruker stocks may rise 33 percent within the next 12 months to about $18.

“Bruker has a loyal customer base, its high-tech equipment allows it to charge a premium,” Haresco said. (Reporting by Yinka Adegoke, editing by Maureen Bavdek)

Lazard stock could get bump if it cuts pay -Barron’s

NEW YORK, April 11 (Reuters) – Shares in Lazard Ltd (LAZ.N) could rise more than 35 percent if the financial advisory and asset management firm lowers the compensation it pays to employees, said financial weekly Barron’s.

Stocks | Funds News | ETFs News | Financials

The paper, in its April 12 issue, said the firm paid 86 percent of its revenue into compensation and benefits in 2009, compared with 36 percent at Goldman Sachs (GS.N) and above the industry standard of around 50 percent.

It said Lazard shares recently trade around 16 times 2010 earnings of $2.25 a share, which the paper said was at a discount to the stocks of rival financial advisory specialists Evercore Partners (EVR.N) and Greenhill (GHL.N) because investors doubt that Lazard is serious about trimming compensation.

Barron’s said at a 50 percent compensation ratio Lazard 2010 earnings could hit $3.34 a share. (Reporting by Yinka Adegoke; editing by Gunna Dickson)

Young auctioneer hammers away at title

A Dubbo stock and station agent is in the running to be named the best in the country.

Joel Fleming is a finalist in the Australian Young Auctioneers’ Competition, which is being held at the Sydney Royal Easter Show today.

The 21-year-old was named the winner in the NSW Young Auctioneers’ Competition last year.

He says he is feeling confident.

“Pretty good, just go out there and keep a level and cool head like I did last year and just aim to have fun and do my best and see what result we can come up with. Pretty nervous, I’m a bit more nervous than last year actually so yes the nerves have set in,” he said.

He says the judges will be looking for certain attributes.

“You’re judged on your values a lot. What you actually call for the beast that you get to sell or the three cattle that you get to sell and what they make. Your clarity is another big one and your patter and yes just how clear and precise you are,” he said.