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Business

Devon Energy & WPX Energy Complete Merger of Equals Transaction

OKLAHOMA CITY and TULSA, OK (STL.News) Devon Energy Corporation (“Devon”) (NYSE: DVN) and WPX Energy, Inc. (“WPX”) (NYSE: WPX) today announced the successful completion of their previously announced all-stock merger of equals, creating a leading energy producer in the U.S., with an asset base underpinned by a premium acreage position in the economic core of the Delaware Basin. The combined company will operate under the name Devon Energy and be headquartered in Oklahoma City, Oklahoma. “This transformational merger enhances the scale of our operations, builds a dominant position in the Delaware Basin and accelerates our cash-return business model that prioritizes free cash flow generation and the return of capital to shareholders,” said Dave Hager, executive chairman. “We are excited ...

Press Release

Broad Street Realty, LLC And MedAmerica Properties Inc. Complete The First Phase Of The Previously Announced Merger Transactions

MedAmerica Properties Inc. changes its name to Broad Street Realty, Inc. BETHESDA, MD and BOCA RATON, FL (STL.News) Broad Street Realty, LLC ("Broad Street") and MedAmerica Properties Inc. (OTC: MAMP) Friday announced that they have completed the first phase of the previously announced mergers. As a result, MedAmerica, now known as Broad Street Realty, Inc., has become a fully integrated and self-managed publicly owned real estate company. With the closing of the initial mergers, the resulting company now owns nine primarily grocery-anchored neighborhood shopping center properties with over 865,000 square feet of gross leasable space in Maryland, Pennsylvania, Virginia and Washington, DC and succeeds to Broad Street's operating platform, including its commercial brokerage, property manage...

Business

California Attorneys General Becerra, NY James Begin Trial in Lawsuit Challenging Proposed Sprint, T-Mobile Merger

California and New York lead a coalition of 14 attorneys general WASHINGTON, DC (STL.News) California Attorney General Xavier Becerra and New York Attorney General Letitia James today issued the following statements on the first day of trial in the states' lawsuit challenging the proposed merger of Sprint and T-Mobile: “Today we stand on the side of meaningful competition and affordable options for consumers," said Attorney General Becerra. "Our airwaves belong to the public, who are entitled to more, not less. This merger would hurt the most vulnerable people among us - leaving consumers with fewer choices and higher prices. We’re fighting in court with a 14-state strong coalition for them, and for all Americans, and we’re confident the law is on our side.” “The megamerger of T-Mobi...

Business

Texas to Join Multistate Lawsuit Challenging the Sprint/?T?Mobile Merger

Austin, TX (STL.News) Thursday, Texas Attorney General Ken Paxton announced that Texas intends to join a coalition of 13 other states, and the District of Columbia, in challenging the proposed merger of Sprint and T-Mobile, the 3rd and 4th largest providers of mobile wireless telecommunications services in the United States. The merger, if consummated, would result in a substantial harm to competition in the market for mobile wireless telecommunications services, both nationwide, and specifically within the State of Texas. “While we appreciate the time and effort that went into the agreement between the parties and the U.S. Dept. of Justice, the Texas Attorney General has an independent obligation to protect Texas consumers. After careful evaluation of the proposed merger and the settle...

Business

FTC Challenges Proposed Merger of Two Hydrogen Peroxide Producers, Evonik Industries, PeroxyChem Holding Company

Agency alleges that combining Evonik Industries AG and PeroxyChem Holding Company would harm competition in two regional markets for production and sale of hydrogen peroxide Washington DC (STL.News) - The Federal Trade Commission Friday authorized an action to block Evonik Industries AG’s proposed $625 million acquisition of PeroxyChem Holding Company, alleging the merger of the chemical companies would substantially reduce competition in the Pacific Northwest and the Southern and Central United States for the production and sale of hydrogen peroxide, a commodity chemical used for oxidation, disinfection, and bleaching. The FTC issued an administrative complaint, and filed a request for a temporary restraining order and preliminary injunction in federal district court to maintain the stat...

Business

Raytheon, United Technologies Aerospace Businesses to Combine in Merger of Equals

WALTHAM, MA and FARMINGTON, CT (STL.News) - Raytheon Company (NYSE: RTN) and United Technologies Corp. (NYSE: UTX) have entered into an agreement to combine in an all-stock merger of equals. The transaction will create a premier systems provider with advanced technologies to address rapidly growing segments within aerospace and defense. The merger of Raytheon, a leading defense company, and United Technologies, a leading aerospace company, comprised of Collins Aerospace and Pratt & Whitney, will offer a complementary portfolio of platform-agnostic aerospace and defense technologies. The combined company, which will be named Raytheon Technologies Corporation, will offer expanded technology and R&D capabilities to deliver innovative and cost-effective solutions aligned with custom...