Significant Developments: Insurance - Life & Health
Standard Bank Group Limited Announces Details on Tender Offer for Acquisition of Liberty Holdings Limited
Standard Bank Group Limited announced in relation to previous announcement from May 27, 2008 on the company’s firm intention to make an offer to acquire the remaining shares of the issued ordinary share capital of Liberty Holdings Limited that the offer to Liberty Holdings Limited shareholders which is unconditional, opened on June 26, 2008. The offer is not made to the holders of Liberty Holdings listed cumulative preference shares, which shares are not convertible into Liberty Holdings ordinary shares and will continue to be listed on the Johannesburg Stock Exchange. The consideration payable to the offerees in terms of the offer is a cash payment of ZAR 219.25 per offer share. The last day to trade Liberty Holdings ordinary shares on the JSE to accept the offer will be July 11, 2008 and Liberty Holdings ordinary shares trade ex the offer on July 14, 2008. The record date in order to participate in the offer will be July 18, 2008.
Humana, Inc. Announces Intent To Acquire Metcare Health Plans, Inc.
Humana, Inc. announced that it has signed a definitive agreement to purchase Metcare Health Plans, Inc., a wholly owned subsidiary of Metropolitan Health Networks, Inc., for an estimated $14 million. Under terms of the agreement, Humana has agreed to purchase all of the issued and outstanding shares of common stock of MHP for an estimated $14 million.
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Financial woes seen limiting U.S. economic rebound
NEW YORK (Reuters) - The U.S. banking industry may have pulled back from the brink, but finance executives say they still face hurdles that will tighten credit and delay an economic rebound. Full Article
Industry Statistics
| Valuation Ratios | |
| P/E(ttm) | 18.64 |
| P/Sales(ttm) | 1.09 |
| P/Book(mrq) | 3.12 |
| P/Cash Flow(mrq) | 1.77 |
| Profitability(ttm) | |
| Gross Margin % | 0.36% |
| Operating Margin % | 1.69% |
| Net Profit Margin % | 1.61% |
| Financial Strength (mrq) | |
| Quick Ratio | 0.02 |
| Current Ratio | 0.02 |
| LT Debt/Equity | 16.30 |
| Total Debt/Equity | 22.27 |
| Mgt. Effectiveness (ttm) | |
| Return on Invstmt % | 0.16% |
| Return on Assets % | 0.75% |
| Return on Equity % | 4.16% |
