NEW YORK, June 27, 2025 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (NASDAQ: PTMN) (“Portman Ridge” or “PTMN”) announced today that it obtained shareholder approval for the issuance of PTMN common stock in connection with the proposed merger of Logan Ridge Finance Corporation (NASDAQ: LRFC) (“Logan Ridge” or “LRFC”) with and into PTMN (the “Share Issuance Proposal”) following the adjourned special meeting of shareholders held on June 27, 2025. PTMN shareholders voted overwhelmingly in favor of the ...

Core Points - A federal judge in California granted preliminary approval for a $38 million cash settlement between several pension funds and Bayer AG to resolve a securities class action lawsuit [1] - The lawsuit, originally filed in 2020, relates to Bayer's acquisition of Monsanto in 2018 and allegations of misleading statements regarding the risks associated with Roundup, a glyphosate-based herbicide [2] - The settlement aims to provide closure to a significant case concerning the adequacy of disclosures in corporate mergers and reaffirms the rights of investors purchasing American Depositary Receipts (ADRs) under U.S. securities laws [3] Legal Proceedings - The case has involved nearly five years of litigation, with a focus on the transparency of disclosures related to due diligence in high-profile mergers [3] - In May 2023, the court granted class certification, appointing specific pension funds as class representatives and affirming the rights of ADR purchasers in the over-the-counter market [5] - The discovery process was complex, requiring international cooperation and legal proceedings under the Hague Convention to obtain testimony from Bayer's former general counsel in Germany [6] Implications for Investors - The settlement is seen as a significant resolution for investors in publicly traded foreign companies, ensuring accountability under U.S. securities laws [4] - The case highlights the enforceable rights of ADR investors, particularly in light of the court's ruling on the extraterritoriality issue [5]

Key Takeaways Goldman Sachs stock surged 57.3% over 12 months, outpacing JPMorgan and Morgan Stanley. GS reported IB revenue decline in Q1 2025 but holds a strong M&A backlog and leads in advisory market share. The Fed's capital relief proposal may boost GS' ROE and fund growth in IB, trading and AWM segments.The Goldman Sachs Group, Inc. (GS) shares have surged 57.3% over the past year, outperforming the industry's 40.9% growth. Its peers, JPMorgan (JPM) and Morgan Stanley (MS) , shares rose 48.4% and 50 ...

Summary of DNOW and MRC Global Merger Conference Call Industry and Companies Involved - **Industry**: Energy and Industrial Solutions - **Companies**: DNOW (DistributionNOW) and MRC Global Core Points and Arguments 1. **Merger Announcement**: DNOW and MRC Global announced a transformational merger aimed at creating a premier energy and industrial solutions provider, enhancing long-term sustainable growth and shareholder value [4][5][6] 2. **Transaction Structure**: The merger is an all-stock transaction with an enterprise value of approximately $3 billion. MRC Global shareholders will receive 0.9489 shares of DNOW common stock for each share of MRC Global common stock [7][8] 3. **Ownership Post-Merger**: Upon closing, DNOW and MRC Global shareholders will own approximately 56.5% and 43.5% of the combined company, respectively [7] 4. **Expected Synergies**: The merger is projected to generate annual run rate pretax synergies of $70 million within three years, primarily from operational efficiencies and cost reductions [7][23] 5. **Financial Strength**: The combined company is expected to have revenues of approximately $5.3 billion and a strong balance sheet, with a net cash position anticipated by the end of the first year post-close [13][25] 6. **Geographic and Product Expansion**: The merger will enhance geographic reach and product offerings, allowing the combined entity to serve customers across more than 350 service and distribution locations globally [14][15] 7. **Customer-Centric Approach**: Both companies emphasize a customer-first mindset, aiming to leverage their combined strengths to better serve existing customers and attract new ones [29][30] 8. **Focus on Growth**: The primary focus post-merger will be on organic growth through cross-selling opportunities, with no specific revenue synergy targets established yet [47][48] Additional Important Content 1. **Regulatory Approval**: The companies do not anticipate significant regulatory issues, believing the merger will enhance customer choice and service capabilities [49] 2. **Integration Strategy**: The integration will focus on consolidating duplicate systems and optimizing the distribution network, although immediate priorities will be on revenue growth and talent retention [51][60] 3. **Capital Allocation**: Post-merger capital deployment will prioritize organic growth, followed by inorganic growth through M&A, and maintaining a share repurchase program [58] 4. **Cultural Alignment**: Both companies share a commitment to innovation and operational excellence, which will be foundational in the integration process [29][30] This summary encapsulates the key points discussed during the conference call regarding the merger between DNOW and MRC Global, highlighting the strategic rationale, expected benefits, and future focus areas for the combined entity.

Genius Act. We know all the things we're talking about. I think JP morgan's going to be right there.>> All right. For more on the strength in banks, I had a stress test in the start of earnings season. Let's bring in RBC Capital Markets.Co-Head of Global financials Research Gerard Cassidy. Gerard, great to see you. Are you expecting any surprises tomorrow.>> We're really not. I think tomorrow we should all expect is that the banks will all pass and flying colors like they have for a number of years of, you ...

CHINA - 2025/06/22: In this photo illustration, the logo of BP p.l.c. is displayed on the screen of ... More a smartphone. (Photo Illustration by Sheldon Cooper/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesShell refuted the takeover rumors, yet the speculation emphasizes what investors are beginning to recognize: BP’s significant discount and strategic shift might be due for reevaluation.BP plc stock (NYSE: BP) experienced a jump of as much as 10% intraday on June 25 foll ...

Through a reverse merger valuing Buyerlink equity at approximately $326 million, Inspirato and Buyerlink will combine to establish a leading platform for building and operating online marketplaces across multiple verticals - Combined companies expected to deliver ~$350 million in revenue and ~$30 million in adjusted EBITDA in 2025- Payam Zamani to serve as Chairman & CEO of the newly formed One Planet Platforms- Inspirato will continue to operate as a premier luxury travel company- Combined company to trade ...

Reduction in Force Estimated to Save Over $750K or 23.4% of Annual Payroll Expenses Agreements Progress Toward Completion; Shareholder Meeting Scheduled for July 24, 2025 IRVINE, Calif., June 26, 2025 (GLOBE NEWSWIRE) -- ReShape Lifesciences Inc. (Nasdaq: RSLS), the premier physician-led weight loss and metabolic health-solutions company, today announced strategic headcount reduction and provided an update on the merger agreement with Vyome Therapeutics and asset purchase agreement with Biorad Medisys. “Whi ...

Japan's newfound openness to hostile M&A risk seeding and indispensibility to global supply chains that has been carefully built up over decades. Analysts say hostile bids pose both a threat and an opportunity for Japan's government, which views M&A as a way to encourage consolidation in fragmented industries, shake up complacent boardrooms, and improve corporate governance. But some Japanese officials are rushing to prevent the nation losing control over its most advanced and sensitive technologies.Industr ...

Core Viewpoint - David Ellison, CEO of Skydance Media, expresses optimism about acquiring Paramount from Shari Redstone despite regulatory challenges and a $20 billion lawsuit from Trump against CBS [1][2][6]. Group 1: Acquisition Details - Ellison believes the acquisition will be completed before the end of summer, ahead of the October deadline [2][4]. - The deal is valued at $8 billion, with Redstone set to receive a $2 billion payout upon completion [7][13]. - Ellison's studio has produced successful films like "Top Gun: Maverick" and the latest "Mission: Impossible" sequels, contributing to his confidence [4]. Group 2: Regulatory Challenges - Trump's administration is delaying approval as they investigate potential violations of FCC guidelines by CBS News regarding political bias [5][10]. - The lawsuit filed by Trump claims CBS's "60 Minutes" violated a Texas business law, alleging deceptive editing during an interview with Kamala Harris [6][11]. Group 3: Settlement Discussions - Recent discussions have suggested a potential settlement of $35 million to resolve the lawsuit, significantly lower than the initial $20 billion claim [8][9]. - CBS may also consider running public service ads for causes favored by Trump as part of the settlement [9][16]. Group 4: Financial Backing and Future Outlook - Larry Ellison, with a net worth of $250 billion, is providing financial support for the acquisition, and has a direct line to the White House [14]. - There is speculation that the deal could be approved before the lawsuit is settled, allowing Ellison to address the lawsuit post-acquisition [14][16]. - Legal experts suggest that any bribery allegations would be difficult to prove in court, making a settlement more likely [16].