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Last May, Mueller Water Products (MWA), which makes pipes and other equipment used for water treatment systems, went public at $16.70 as part of a spin-off from Walter Industries (WLT) and it’s fair to say that the IPO hasn’t exactly been a whopping success. Indeed, other than a brief period about a month after the [...]
Back in June, Banco Bilbao Vizcaya Argentaria (BBVA) announced that it was acquiring Texas-based State National Bancshares (SNBI) in a $480 million deal as well as the larger Texas Regional Bancshares (TRBS) for $2.16 billion. Late Friday, SNBI filed its merger proxy that disclosed a $5.6 million "advisory fee" that director Mark Merlo would be [...]
Late Friday, KBR, which Halliburton (HAL) has been talking about spinning off for much of 2006, filed its latest amended S-1. The filing, which weighed in at 358 pages, was nearly 100 pages longer than the amended S-1 filed just before Memorial Day weekend. But one of the things that popped out — thanks to [...]
Last month, XL Capital (XL) spun off Security Capital Assurance (SCA) in a $460 million IPO. On Friday, Security Capital filed its first Q which had this interesting disclosure about the housing market in Wilton, Ct. where its CEO, Paul Giordano, lives. In the contract, the company agrees to provide Giordano with "loss protection" — [...]
Rental car company Hertz (HTZ), which is getting ready to launch a $1 billion IPO, filed a Q yesterday which included this employment contract with newly named CEO Mark Frissora. When the company announced the hiring of Frissora last month from Tenneco (TEN) it conveniently omitted many of the details of his package. Talk about [...]
