Key Developments: Rockwood Holdings Inc (ROC)
67.10USD
23 May 2013
$-0.36 (-0.53%)
$67.46
$66.41
$67.71
$65.79
262,899
871,996
$68.96
$40.52
Latest Key Developments (Source: Significant Developments)
Rockwood Holdings Inc Raises Quarterly Cash Dividend
Rockwood Holdings Inc announced that Board of Directors has increased its quarterly cash dividend by nearly 15% to $0.40 per share from $0.35 per share, payable on March 22, 2013 to all common stockholders of record at the close of business on March 7, 2013. Full Article
Kemira Oyj Sells Stake in Joint Venture Sachtleben GmbH to Rockwood Holdings Inc
Kemira Oyj announced that Kemira Oyj and Rockwood Holdings Inc have on February 14, 2013 signed an agreement, according to which Rockwood buys Kemira's share (39%) of the titanium dioxide joint venture Sachtleben GmbH. The transaction price of the deal is EUR 97.5 million and will impact Kemira's cash flow positively in the first quarter of 2013. Kemira will undertake a non-recurring write-down related to the transaction of approximately EUR 25 million, impacting Kemira's reported EBIT in the first quarter of 2013. The joint venture Sachtleben GmbH, which was established in September 2008 by combining Kemira Oyj's and Rockwood Holdings Inc's TiO2 businesses, is a producer of specialty TiO2 pigments for the synthetic fiber, packaging inks, cosmetics, pharmaceutical and food industries. Full Article
Rockwood Holdings Inc Announces Approval of Stock Repurchases
Rockwood Holdings Inc announced that its Board of Directors has authorized the Company to repurchase shares of Rockwood common stock up to an aggregate of $400 million. The Company intends to effectuate these repurchases in 2013. Repurchases under the program may be made through one or more open market transactions, unsolicited or solicited privately negotiated transactions, accelerated share repurchase programs or other derivative transactions, self tender offers, or through any combination of the foregoing, or in such other manner as determined by the Company. The timing of the repurchases and the actual amount repurchased will depend on a variety of factors, including the market price of the Company's shares, general market and economic conditions, and other factors. The share repurchase program may be extended, suspended or discontinued at any time without notice. Full Article
Talison Lithium Ltd And Rockwood Holdings, Inc. Terminate Agreement
Talison Lithium Ltd and Rockwood Holdings, Inc. announced that they have agreed to terminate the scheme implementation agreement for the proposed schemes of arrangement between Talison and its Shareholders and Optionholders that would have resulted in all Talison Securities being acquired by a wholly owned subsidiary of Rockwood, as announced on August 23, 2012 (the "Rockwood Proposal"). Talison will pay Rockwood a CAD7 million break fee. The termination of the Rockwood Proposal was foreshadowed in Talison's announcement on December 6, 2012 regarding the proposed schemes of arrangement between Talison and its Shareholders and Optionholders that would result in all Talison Securities being acquired by Windfield Holdings Pty Ltd, an Australian incorporated wholly-owned subsidiary of Chengdu Tianqi Industry (Group) Co., Ltd ("Tianqi Schemes"). As a result of the termination of the Rockwood Proposal, the adjourned meetings of Securityholders that were scheduled for December 13, 2012 will not proceed. Talison expects that the approval of the Tianqi Schemes will be put to Securityholders at meetings to be held in late February 2013, and that the Tianqi Schemes will be completed during March 2013. Full Article
Rockwood Holdings Inc Receives All Regulatory Approvals To Complete Acquisition Of Talison Lithium Ltd
Rockwood Holdings Inc announced that the government of Australia’s Foreign Investment Review Board has given its approval for the acquisition of Talison Lithium Limited by Rockwood. Rockwood has obtained all regulatory approvals and is therefore prepared to close the acquisition of Talison as planned in mid-December. Rockwood has no intention of engaging in a bidding process for the acquisition of Talison. Full Article
Rockwood Holdings Inc Quarterly Cash Dividend
Rockwood Holdings Inc announced that Board of Directors has declared a quarterly cash dividend of $0.35 per share payable on December 18, 2012, to all common stockholders of record at the close of business on November 29, 2012. Full Article
Rockwood Holdings Inc's Rockwood Specialties Group, Inc. Announces Pricing of $1.250 Billion of Senior Notes
Rockwood Holdings Inc announced the pricing of the public offering by its indirect wholly-owned subsidiary Rockwood Specialties Group, Inc. (RSGI) of $1.250.0 billion of 4.625% Senior Notes due 2020 (the Notes), which was increased from the previously announced $750.0 million offering. The closing of the offering is expected to occur on September 25, 2012, subject to customary closing conditions. The Notes will be fully and unconditionally guaranteed on a senior unsecured basis by Rockwood Holdings and each of RSGI’s existing and future domestic subsidiaries that is a guarantor under RSGI’s senior secured credit facilities. The Notes will pay interest at a rate of 4.625% per annum semi-annually on April 15 and October 15 of each year, commencing April 15, 2013. The Notes will mature on October 15, 2020. Rockwood will use the net proceeds from the sale of the Notes to prepay $250 million of its term loan B, and to fund general corporate purposes, which may include, among other things, strategic investments and acquisitions, capital expenditures and additional repayment of other debt. Deutsche Bank Securities, Citigroup, Morgan Stanley and UBS Investment Bank are serving as joint book-running managers for the offering, with KKR and Lazard Capital Markets acting as co-managers. Full Article
Rockwood Holdings Inc's Rockwood Specialties Group, Inc. Announces Offering of Senior Notes
Rockwood Holdings Inc announced that its wholly-owned subsidiary Rockwood Specialties Group, Inc. (RSGI) will offer $750.0 million aggregate principal amount of senior notes due 2020. The notes will be fully and unconditionally guaranteed on a senior unsecured basis by Rockwood Holdings and each of RSGI’s existing and future domestic subsidiaries that is a guarantor under RSGI’s senior secured credit facilities. Rockwood will use the net proceeds from the sale of the notes for general corporate purposes, which may include, among other things, strategic investments and acquisitions, capital expenditures and repayment of debt. Deutsche Bank Securities, Citigroup, Morgan Stanley and UBS Investment Bank are serving as joint book-running managers for the offering, with KKR and Lazard Capital Markets acting as co-managers. Full Article
Rockwood Holdings Inc Completes Split Of Chemetall GmbH Into Two Separate Legal Entities
Rockwood Holdings Inc announced that its subsidiary, Chemetall GmbH, headquartered in Frankfurt am Main, Germany, has completed the formal legal split of its operations into two independent legal entities. Chemetall GmbH will remain the legal entity and brand name for the surface treatment business. The lithium and special metals business, already doing business under the brand name Rockwood Lithium, will be renamed Rockwood Lithium GmbH. Full Article
Rockwood Holdings Inc Agrees To Acquire Talison Lithium
Rockwood Holdings Inc announced that it has entered into a definitive agreement with Talison Lithium Limited to acquire all of the outstanding shares of Talison in an all-cash transaction for CAD6.50 per share for an equity purchase price of approximately CAD724 million, on a fully diluted basis ($732, based on an exchange rate of CAD1 = $1.011635). The Board of Directors of Talison has unanimously recommended the transaction to Talison shareholders. The transaction is subject to the approval of Talison shareholders and other customary closing conditions. Rockwood intends to finance the acquisition using existing cash on its balance sheet and new debt financing. Lazard is acting as exclusive financial advisor to Rockwood, and Gilbert & Tobin is acting as Rockwood's legal counsel. Full Article
Rockwood pigments businesses attract private equity bids: sources
NEW YORK - Specialty chemicals producer Rockwood Holdings Inc's pigments businesses have attracted offers from buyout firms including Blackstone Group LP and Advent International Corp, several people familiar with the matter said.
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