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Star Equity Issues Statement on GEE Group’s Lack of Engagement
Globenewswire· 2026-01-22 13:30
Core Viewpoint - Star Equity Holdings, Inc. has proposed a merger with GEE Group, Inc. to enhance shareholder value, but GEE Group has not responded to the proposal despite multiple outreach attempts [1][2][8]. Group 1: Proposal Rationale - GEE Group should consider merging with a larger entity to avoid the pitfalls of remaining a small public company, which incurs high SG&A expenses relative to revenue [2]. - The merger would eliminate duplicative public company costs and create potential cost-saving synergies, enhancing overall performance [2]. - GEE Group's previous acquisitions have underperformed, suggesting that it should focus on being a seller rather than a buyer [2]. Group 2: Financial Performance Concerns - GEE Group's revenue for FY 2025 was $96.5 million, a 41.6% decline from FY 2022 and a 9.8% decline from FY 2024 [3]. - The company reported net losses of $58.8 million over the last two years, including $36.2 million from goodwill impairment, indicating overpayment for past acquisitions [3][4]. - The stock price has declined nearly 92% from five years ago, reflecting market concerns over GEE Group's financial performance and capital allocation [5]. Group 3: Market Sentiment and Management Strategy - GEE Group's stock has traded close to its cash per share since April 2025, signaling a loss of market confidence in its financial and operational strategies [5]. - Despite the stock's decline, GEE Group's management has expressed a preference for acquisitions over share repurchases, which could be detrimental to shareholder value given the high multiples in the staffing industry [6]. - The market sentiment indicates skepticism regarding the board's commitment to enhancing shareholder value through disciplined capital management [6]. Group 4: Benefits of the Proposed Merger - The merger with Star Equity is expected to create significant value for both GEE Group and Star Equity shareholders through operational efficiencies and reduced overhead costs [9][12].
Cadence Bank Announces Fourth Quarter and Annual 2025 Financial Results
Prnewswire· 2026-01-22 11:55
Core Insights - Cadence Bank reported strong financial results for the fourth quarter and full year of 2025, highlighting continued earnings growth and balance sheet expansion, supported by strategic partnerships and a pending merger with Huntington Bancshares [2][5]. Financial Performance - For the year ended December 31, 2025, net income available to common shareholders was $532.6 million, or $2.83 per diluted share, an increase from $514.1 million, or $2.77 per diluted share in 2024 [3][5]. - Adjusted net income for 2025 was $582.2 million, or $3.10 per diluted share, compared to $507.9 million, or $2.74 per diluted share in 2024, marking a 13.1% increase on a per-share basis [5]. - The adjusted pre-tax pre-provision net revenue (PPNR) reached a record $857.7 million, or 1.68% of average assets, up from $739.0 million, or 1.54% of average assets in 2024 [5]. Quarterly Highlights - In Q4 2025, net income available to common shareholders was $144.4 million, or $0.76 per diluted share, compared to $130.3 million, or $0.70 per diluted share in Q4 2024 [4][5]. - Adjusted net income for Q4 2025 was $160.6 million, or $0.85 per diluted share, up from $130.0 million, or $0.70 per diluted share in Q4 2024 [4][5]. - The adjusted PPNR for Q4 2025 was $237.8 million, reflecting a 29.2% increase compared to Q4 2024 [6][5]. Balance Sheet and Growth - Total loans increased by $3.5 billion, or 10%, in 2025, while total deposits grew by $3.6 billion, or 9% [5]. - The net interest margin improved by 17 basis points to 3.47% for 2025, benefiting from balance sheet growth and improved funding costs [5]. - As of December 31, 2025, total assets were $53.5 billion, with loans and leases net of unearned income at $37.2 billion [10][11]. Credit Quality - Net charge-offs for Q4 2025 were $26.1 million, or 0.28% of average net loans, compared to $14.1 million, or 0.17% in Q4 2024 [13][14]. - The allowance for credit losses was $495.1 million at December 31, 2025, representing 1.33% of total loans [13][14]. Noninterest Revenue and Expenses - Noninterest revenue for Q4 2025 was $101.5 million, up from $86.2 million in Q4 2024 [15][20]. - Noninterest expense for Q4 2025 was $311.3 million, compared to $266.2 million in Q4 2024, with adjusted noninterest expense at $290.6 million [20][21]. Strategic Transactions - The company completed mergers with FCB Financial Corp. and Industry Bancshares, adding approximately $4.7 billion in assets and enhancing its presence in Georgia and Texas [5][23][24]. - A definitive merger agreement with Huntington Bancshares is expected to close on February 1, 2026, creating a top 10 national franchise with pro forma total assets exceeding $275 billion [5][25].
Coterra, Devon Energy in potential merger talks
Yahoo Finance· 2026-01-16 09:32
Coterra Energy is reportedly in discussions with rival US shale producer Devon Energy regarding a potential merger. The merger would create one of the largest independent shale producers in the US, reported Reuters. Currently in preliminary talks, both companies involved are yet to decide on a final agreement, the news agency said, citing sources familiar with the negotiations. It has been further reported that there is no assurance that the merger will proceed. The sources preferred to remain anonymou ...
Robex Obtains Final Court Approval for Plan of Arrangement
Globenewswire· 2026-01-13 22:31
Core Viewpoint - Robex Resources Inc. has received final court approval for its merger with Predictive Discovery Limited, which will involve Predictive acquiring all outstanding common shares of Robex through a statutory plan of arrangement [1][2]. Group 1: Merger Details - The merger was overwhelmingly approved by Robex shareholders during a special meeting held on December 30, 2025 [2]. - The transaction is still subject to closing conditions, including approvals from the Governments of Guinea and Mali, and is expected to be completed in Q1 2026 [3]. Group 2: Company Overview - Robex Resources Inc. is a Canadian gold mining company listed on the TSX-V and ASX, with its headquarters in Quebec, Canada [5]. - The company's key properties include the Nampala Project in Mali and the Kiniero Project in Guinea [5].
Denny's (NasdaqCM:DENN) 2026 Extraordinary General Meeting Transcript
2026-01-13 16:02
Summary of Denny's Corporation Special Meeting Company Overview - **Company**: Denny's Corporation (NasdaqCM: DENN) - **Meeting Date**: January 13, 2026 - **Location**: Virtual-only internet and audio webcast Key Points Discussed Meeting Structure and Legal Matters - The meeting was called to order by Olu Beck, Chair of the Board of Directors, with introductions of key management members including Kelli F. Valade, CEO, and Gail Sharps Myers, Chief Legal and Administrative Officer [2][3] - The meeting was conducted virtually, allowing stockholders to participate safely and efficiently [3] Voting Procedures - Stockholders were reminded to follow specific instructions for voting during the meeting, with a 16-digit control number required for virtual voting [9] - The polls opened for voting on three proposals presented to stockholders [9] Proposals Presented 1. **Proposal 1**: Adoption of the merger agreement with Sparkle Acquisition Corp., which involves the merger of Sparkle Acquisition Corp. with Denny's, making Denny's a wholly owned indirect subsidiary of Sparkle Acquisition Corp. [10] 2. **Proposal 2**: Approval on a non-binding advisory basis of compensation related to the merger for named executive officers [11] 3. **Proposal 3**: Approval of adjournments of the meeting if necessary to solicit additional proxies [11] Voting Results - **Proposal 1**: Approved with at least 39,490,370 shares voting in favor [17] - **Proposal 2**: Approved with at least 34,741,402 shares voting in favor [17] - **Proposal 3**: Approved with at least 38,254,509 shares voting in favor, although adjournment was not necessary due to the approval of Proposal 1 [18][20] Attendance and Quorum - A quorum was established with at least 39,780,712 shares represented at the meeting out of a total of 51,498,994 shares outstanding [15] Future Actions - The final results of the meeting will be filed on Form 8-K within four business days [20] Additional Notes - Stockholders were given the opportunity to ask questions related to the proposals, with one question received regarding the expected completion of the transaction, which is anticipated to occur in the near future [12] - The meeting concluded without further business, and stockholders were thanked for their attendance [20]
Ai Technology Group and AVM Biotechnology Provide Merger and Operational Update
Globenewswire· 2026-01-12 14:08
Core Viewpoint - The proposed merger between Ai Technology Group Inc. and AVM Biotechnology Inc. is progressing, with funding timelines being extended to facilitate corporate growth and financial audits in 2026 [2] Group 1: Merger and Funding - The Company is funding the proposed merger with AVM on an exclusive basis and is extending funding dates to accommodate the merger and financial audit timelines [2] - The planned merger is expected to enhance the corporate growth of the combined entities [2] Group 2: Clinical Trials and Drug Development - AVM has resumed its FDA Phase 2 Clinical Trial for relapsed and refractory Non-Hodgkins Lymphoma, known as the OPAL Trial, for its drug AVM0703, with plans to enroll an additional 7-10 patients [3] - AVM0703 has been administered in cycles of 3-4 weeks for up to 9 repeat infusions without cumulative safety concerns, with promising survival data accumulating from 30 subjects over almost four years [3] - AVM also runs an FDA Expanded Access Program for various solid tumors and blood cancers, with over 19 repeat infusions administered and follow-up extending beyond 5 years [4] Group 3: Funding and Grants - More than 92 patients have received over 297 total infusions of AVM0703 without safety concerns, yielding exciting outcomes [5] - AVM has secured an additional US$2 million NCI SBIR grant, bringing total government grant funding to US$6.4 million [5]
Sun Country Airlines (NasdaqGS:SNCY) Earnings Call Presentation
2026-01-12 13:30
Transaction Announcement January 12, 2026 #FD8103 #005595 #FFD105 #394B5D #38AC49 #FD8103 #394B5D Cautionary Statement Regarding Forward-Looking Statements This communication contains forward-looking statements under the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, Section 27A of the Securities Act of 1933 and the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts and often can be identified by th ...
First Community Corporation Acquires Signature Bank of Georgia
Prnewswire· 2026-01-09 14:00
Core Viewpoint - First Community Corporation has successfully completed the acquisition of Signature Bank of Georgia, enhancing its asset base and expanding its banking network [1][2][3] Group 1: Acquisition Details - The acquisition of Signature Bank was finalized on January 8, 2026, with Signature Bank merging into First Community Bank [1] - The deal is valued at approximately $50 million as of December 31, 2025, with Signature Bank shareholders receiving 0.6410 shares of First Community's common stock for each share of Signature Bank [3] - Following the merger, the combined entity has over $2.3 billion in assets, $2.1 billion in deposits, and $1.5 billion in loans [2] Group 2: Operational Impact - The former offices of Signature Bank will operate under the name First Community Bank d/b/a Signature Bank of Georgia until the systems conversion is completed in March 2026 [2] - The merger creates a banking office network of 23 full-service offices and a loan production office across various regions in South Carolina and Georgia [2] Group 3: Leadership Changes - Two new directors have been appointed to the boards of First Community and First Community Bank: Fred J. Deutsch as a non-independent director and Jonathan W. Been as an independent director [4]
Jamf (NasdaqGS:JAMF) 2026 Extraordinary General Meeting Transcript
2026-01-08 16:02
Summary of Jamf Holding Corp. Special Meeting of Stockholders Company Overview - **Company**: Jamf Holding Corp. (NasdaqGS: JAMF) - **Meeting Date**: January 8, 2026 - **Meeting Type**: Virtual Special Meeting of Stockholders Key Proposals Discussed 1. **Merger Proposal**: - Proposal to adopt and approve the agreement and plan of merger dated October 28, 2025, involving Jamf, Jawbreaker Parent, Inc., and Jawbreaker Merger Sub, Inc. [8] - Approval requires a majority vote from the holders of outstanding shares of Jamf Common Stock entitled to vote [10]. 2. **Compensation Proposal**: - Proposal to approve, on a non-binding advisory basis, the compensation related to the merger for Jamf's named executive officers [8]. - Approval also requires a majority vote from the shares present or represented by proxy [11]. 3. **Adjournment Proposal**: - Proposal to approve one or more adjournments of the meeting if necessary to solicit additional proxies [9]. - This proposal was deemed unnecessary as the first two proposals were approved [13]. Voting Results - A quorum was established with more than half of the 134,076,214 shares of Jamf Common Stock present in person or by proxy [6]. - Each of the proposals received the requisite number of votes for approval [12]. - The results will be reported on Form 8-K to be filed with the SEC [13]. Additional Information - The meeting was conducted to facilitate stockholder attendance and participation through a live audio webcast [2]. - Stockholders were provided with a certified list of those entitled to vote, which was available for inspection during the meeting [5]. - The meeting concluded with expressions of appreciation to stockholders and the management team for their support and efforts [14][15].
CSX lays off 5% of management staff, furloughs conductors
Yahoo Finance· 2026-01-08 01:45
Group 1 - CSX has laid off 166 management employees, representing about 5% of its non-union workforce, as part of cost-cutting measures announced to employees [1] - Additional cost-cutting measures include cuts to management benefits, furloughs for 193 conductors, and placing 157 conductors in unassigned status [2] - CEO Steve Angel stated that the layoffs were part of efforts to streamline the organization due to challenging economic conditions, and affected employees will receive severance packages and transition services [3] Group 2 - CSX's fourth-quarter freight traffic increased by 1.3%, but more profitable merchandise traffic decreased by 2.1%, while lower-margin intermodal volume rose by 5.2% [4] - CFO Kevin Boone indicated that fourth-quarter earnings would be impacted by a $40 million loss due to lower coal shipments from a derailment and reduced auto shipments linked to an aluminum shortage [4] - CSX is scheduled to release its fourth-quarter earnings on January 22 [5]