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Molina Healthcare Inc to Acquire Providence Service Corp's Providence Human Services and Providence Community Services

Thursday, 3 Sep 2015 09:04am EDT

Molina Healthcare Inc and Providence Service Corp:Parties have entered into definitive agreement whereby Molina Healthcare will acquire all outstanding ownership interests of Providence Human Services, LLC (PHS) and Providence Community Services, LLC (PCS), both wholly owned subsidiaries of The Providence Service Corporation.Under terms of the acquisition agreement, Molina will pay Providence Service Corporation about $200 million upon closing of transaction.Molina intends to fund the transaction with available cash on its balance sheet.transaction is expected to close during fourth quarter of 2015, subject to regulatory approvals and the satisfaction of other closing conditions.Providence intends to use 50% of net cash proceeds from the transaction to prepay certain loans under its existing credit facility.Molina Healthcare's financial advisor is UBS Investment Bank and its legal advisor is Sheppard Mullin Richter & Hampton LLP.Providence Service Corporation's financial advisor is Moelis & Company LLC and its legal advisor is Paul Hastings LLP.

SENSHUKAI to acquire shares in WATABE WEDDING; WATABE WEDDING cancels new shares issue through private placement and announces shareholding structure change

Tuesday, 1 Sep 2015 07:45pm EDT

SENSHUKAI CO LTD:To acquire 3,367,900 shares through takeover bid offered by WATABE WEDDING CORP at price of 700 yen per share, with settlement date from Sep. 7.To raise stake in WATABE WEDDING to 33.99 pct from 0 pct after transaction.WATABE WEDDING CORP canceled issuing 5,102,800 new shares through private placement to SENSHUKAI announced on July 24.Says SENSHUKAI to be the top shareholder of WATABE WEDDING effective Sep. 7.

H&R Block announces $3.5 billion share repurchase program and closed transaction to divest H&R Block Bank

Tuesday, 1 Sep 2015 04:02pm EDT

H&R Block:Announces $3.5 billion share repurchase program.Says closed its transaction to divest H&R Block Bank, selling certain assets and transferring certain liabilities, including all of its deposits, to BofI Federal Bank ("BofI") a full month earlier than expected.At the time of the closing, the bank made a one-time cash payment to BofI of approximately $419 million.Bank merged into its parent company, surrendered its bank charter, and ceased to exist as a bank.Closing of the bank transaction represents the conclusion of a multi-year effort to refocus the company on its core tax business and to no longer be regulated as a savings and loan holding company.Co intends to establish a new capital structure.Included in this plan is a $3.5 billion share repurchase program, a new committed line of credit (CLOC), and incremental debt.The new structure is intended to enable significant return of capital to shareholders in the form of dividends and share repurchases.


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