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Northrop Grumman to acquire Orbital ATK for $9.2 billion

Monday, 18 Sep 2017 06:15am EDT

Sept 18 (Reuters) - Northrop Grumman Corp :Northrop Grumman to acquire Orbital ATK for $9.2 billion.Northrop Grumman Corp - ‍deal expected to be accretive to EPS and FCF per share in first full year​.Northrop Grumman Corp - ‍estimated annual cost savings of $150 million by 2020​ from deal.Northrop Grumman Corp - ‍Orbital ATK shareholders will receive all-cash consideration of $134.50 per share​.Northrop Grumman Corp - ‍estimated annual cost savings of $150 million by 2020 from deal​.Northrop Grumman Corp - ‍expects transaction to be accretive to earnings per share and free cash flow per share in first full year after transaction closes​.Northrop Grumman Corp - ‍Northrop Grumman plans to establish Orbital ATK as a new, fourth business sector​.Northrop Grumman Corp - ‍has received fully committed debt financing and expects to put in place permanent financing prior to closing​.Northrop Grumman Corp - ‍Northrop Grumman will acquire Orbital ATK for approximately $7.8 billion in cash, plus assumption of $1.4 billion in net debt​.Northrop Grumman Corp - ‍on a pro forma 2017 basis, Northrop Grumman expects to have sales in range of $29.5 to $30 billion based on current guidance​.Northrop Grumman Corp - ‍agreement has been approved unanimously by boards of directors of co and Orbital.

Elbit Systems to reorganize the business of CYBERBIT

Monday, 18 Sep 2017 03:09am EDT

Sept 18 (Reuters) - Elbit Systems Ltd - :Elbit systems to reorganize the business of CYBERBIT.Elbit Systems Ltd - Will reorganize business of CYBERBIT solutions ltd., its wholly-owned subsidiary.Elbit Systems Ltd - Defense Cyber Intelligence and Cyber Security business will be integrated with Elbit Systems land.Elbit Systems Ltd - Reorganization will become effective as of January 1, 2018.Elbit Systems Ltd - C4i division and commercial cyber business will continue to operate under CYBERBIT Ltd.

United Tech says all units to be flat to up in earnings in 2018

Thursday, 14 Sep 2017 12:00pm EDT

Sept 14 (Reuters) - United Technologies Corp ::All business units will be flat to up in earnings in 2018 - CFO on Morgan Stanley conf.On track to deliver 350-400 Pratt & Whitney GTF engines in 2017 - CFO on Morgan Stanley conf.Sees improving trends in China but will continue to be headwind in 2018 - CFO on Morgan Stanley conf.Seeing improving trend in the maintenance business in Europe - CFO on Morgan Stanley conf.Working with Airbus to see if co wants to reallocate or change mix between new aircraft versus lease engines - CFO.

United Tech says all units to be flat to up in earnings in 2018

Thursday, 14 Sep 2017 12:00pm EDT

Sept 14 (Reuters) - United Technologies Corp ::All business units will be flat to up in earnings in 2018 - CFO on Morgan Stanley conf.On track to deliver 350-400 Pratt & Whitney GTF engines in 2017 - CFO on Morgan Stanley conf.Sees improving trends in China but will continue to be headwind in 2018 - CFO on Morgan Stanley conf.Seeing improving trend in the maintenance business in Europe - CFO on Morgan Stanley conf.Working with Airbus to see if co wants to reallocate or change mix between new aircraft versus lease engines - CFO.

United Continental sees Q3 capacity to increase in range of 3 pct-3.5 pct

Wednesday, 6 Sep 2017 08:29am EDT

Sept 6 (Reuters) - United Continental Holdings Inc ::United Continental Holdings Inc sees 3Q capacity to increase in range of 3.0% - 3.5% - sec filing‍​.United continental holdings inc - sees Q3 PRASM down 3.0% - down 5.0% - sec filing‍​.United Continental Holdings Inc now sees 3q pre-tax margin to increase in range of 8.0% - 10.0% from prior range of 12.5% - 14.5%.United Continental Holdings Inc says operations at iah were suspended for over four days with over 7,400 flights cancelled due to hurricane Harvey.United Continental Holdings Inc - all facilities at iah are open, anticipate operating at full schedule by the end of the week‍​.United Continental Holdings Inc - changed model variant to a350-900 on airbus a350 order; order increases by 10 aircraft to 45 aircraft‍​.United Continental Holdings Inc - deferred deliveries until late 2022 through 2027 on airbus a350 order.United Continental Holdings Inc sees ‍​Q3 casm, excluding special charges in range of 3.3% - 4.2%.United Continental Holdings-sees ‍​Q3 non-gaap casm, excluding special charges, profit sharing, third-party business expenses, fuel up 2.5 % – up 3.5 %.

BRIEF-United Technologies to acquire Rockwell Collins for $30 bln (Sep. 4)

Tuesday, 5 Sep 2017 08:25am EDT

Corrects last bullet to say Ortberg and Gitlin will assume roles of CEO and COO, respectively, of new business unit Collins Aerospace Systems:United Technologies to acquire Rockwell Collins for $30 billion.United Technologies will acquire Rockwell Collins for $140.00 per share, in cash and UTC stock.United Technologies says under terms of agreement, each Rockwell Collins shareowner will receive $93.33 per share in cash and $46.67 in shares of UTC common stock.Deal expected to generate cost synergies in excess of $500 million.Anticipate acquisition to be accretive to UTC adjusted earnings per share after first full year following closing.United Technologies says expects to fund cash portion of transaction consideration through debt issuances and cash on hand.Purchase price implies total equity value of $23 billion and total transaction value of $30 billion, including Rockwell Collins' net debt.United Technologies says reaffirmed its expectations for 2017 sales of approximately $58.5 to $59.5 billion and adjusted earnings in range of $6.45 to $6.60 per share.United Technologies says Morgan Stanley & Co Llc is acting as financial advisor to United Technologies.Upon deal completion, Rockwell Collins and UTC Aerospace will be integrated to create new business unit named Collins Aerospace Systems.United Technologies says expects deal to generate an estimated $500 plus million of run-rate pre-tax cost synergies by year four.

UAC forms new corporate center and civil aviation division

Monday, 4 Sep 2017 02:21am EDT

Sept 4 (Reuters) - UNITED AIRCRAFT CORPORATION (UAC) ::SAID ON FRIDAY MEETINGS OF BOARDS OF DIRECTORS OF UAC, IRKUT CORPORATION AND SUKHOI CIVIL AIRCRAFT HAVE APPROVED UAC'S REORGANIZATION .UAC, IRKUT CORPORATION AND SUKHOI CIVIL AIRCRAFT WILL BE TRANSFORRMED INTO A NEW CORPORATE CENTER OF A SINGLE UNITED COMPANY WITH FUNCTIONS OF A CIVIL AVIATION DIVISION ON THE BASIS OF IRKUT CORPORATION.UAC PRESIDENT YURY SLYUSAR WHILE RETAINING HIS CURRENT POST FOR THE DURATION OF TRANSFORMATION WILL BECOME PRESIDENT OF IRKUT CORPORATION.OLEG DEMCHENKO, WHO MANAGED IRKUT CORPORATION WILL BECOME FIRST VICE PRESIDENT – CHIEF DESIGNER OF IRKUT CORPORATION.SUKHOI CIVIL AIRCRAFT WILL BECOME THE BASIS OF A CENTER FOR MARKETING, SALES AND AFTER SALES SUPPORT OF ALL CIVIL AIRCRAFT PRODUCED BY UAC.THE TARGET MODEL FORESEES TRANSITION FROM A HOLDING WITH A LARGE NUMBER OF DIFFERENT SUBSIDIARIES WITH DIFFERENT SIZES, GOALS, SPECIALTIES AND MANAGEMENT SYSTEMS TO A SINGLE COMPANY WITH A COMMON SHARE.

Hunan Boyun New Materials scraps asset restructuring

Friday, 1 Sep 2017 05:23am EDT

Sept 1 (Reuters) - Hunan Boyun New Materials Co Ltd <002297.SZ>:Says it scraps asset restructuring due to changes in policies and market conditions.

Murray & Roberts acquires further stake in Bombela Concession

Tuesday, 22 Aug 2017 05:10am EDT

Aug 22 (Reuters) - Murray & Roberts Holdings Ltd :BOUYGUES AND BOMBARDIER AGREED TO SELL 8.5% EACH TO MURRAY & ROBERTS, INCREASING ITS SHAREHOLDING IN BCC TO 50%.EFFECTIVE DATE OF TRANSACTION WILL BE IN Q2 OF THIS FINANCIAL YEAR.WILL INCREASE ITS EFFECTIVE SHAREHOLDING IN BOMBELA CONCESSION BY 17 PERCENT.WILL INCREASE STAKE IN BOMBELA VIA ACQUISITION OF SHARES FROM BOUYGUES TRAVAUX PUBLICS S.A.S, BOMBARDIER TRANSPORTATION UK.

Siemens sees 100-200 mln eur revenue loss in Russia

Thursday, 3 Aug 2017 03:33am EDT

Aug 3 (Reuters) - Siemens :CEO says has acted to limit Crimea turbines damage, does not rule out further measures.CFO says to book Tennet order worth high triple-digit million-euro amount in fiscal Q4.Board member Sen says Gamesa <<>> integration to be done in 3 instead of 4 yrs.CEO says expects to lose 100-200 million eur of sales in Russia due to Crimea turbines affair.CEO, asked about transportation JV with Bombardier <<>>, says wouldn't bet on short-term development.Board member Sen says financing acquisitions is not the only goal of Healthineers IPO.CFO says very happy with what we are seeing in short-cycle, software businesses.CFO says PG has tough quarter and year ahead of it; structural changes will be unavoidable.Board member Sen reiterates will keep majority of Healthineers in medium term.Board member Sen says most healthcare peers listed in USA.Board member Sen says has to consider where will get best liquidity, market making in deciding where to list.

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