On Thursday, Shares of ITC Holdings Corp. (NYSE:ITC), subtract -1.04% and closed at $45.50 in the last trading session. The last trading range of the stock ranges between $45.35 and $46.44. Fortis Inc. (“Fortis” or the “Corporation”) (FTS.TO) and ITC Holdings Corp. (“ITC”) (ITC) declared recently that the Kansas Corporation Commission (“KCC”) has voted to approve their application authorizing Fortis to proceed with its acquisition of ITC. This approval completes all required regulatory authorizations for the acquisition.
“We are happy with the approval from the KCC, and look forward to continuing to serve the transmission needs of the State of Kansas,” said Barry Perry, President and Chief Executive Officer of Fortis. “Fortis appreciates the work by all federal and state regulators who have considered the Fortis acquisition of ITC.”
“We appreciate the work by the KCC commissioners and staff throughout this process,” said Joseph L. Welch, Chairman, President and Chief Executive Officer of ITC. “We look forward to closing the transaction and finalizing matters related to company integration.”
Fortis and ITC shareholders approved the acquisition at shareholder meetings held on May 5 and June 22, 2016, respectively. Approval required from the Committee on Foreign Investment in the United States was received on July 8, 2016, and the post-filing waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, expired August 10, 2016. Approvals from the Oklahoma Corporation Commission, the Illinois Commerce Commission, the Missouri Public Service Commission and the Public Service Commission of Wisconsin were received on August 16 and 24, 2016, September 14, 2016 and October 6, 2016, respectively. The Federal Energy Regulatory Commission authorized the acquisition on September 23, 2016. All applicable consents related to the transfer of control of licenses were received from the Federal Communications Commission as of September 21, 2016.
HCA Holdings Inc (NYSE:HCA), jumped 4.42% and closed at $80.29 in the last trading session. The last trading range of the stock ranges between $76.88 and $80.41. The company’s Market capitalization is $30.85 Billion with the total Outstanding Shares of 378.65 million. HCA Holdings, Inc., through its auxiliaries, provides health care services in the United States. It operates general, acute care hospitals that offer medical and surgical services, counting inpatient care, intensive care, cardiac care, diagnostic, and emergency services; and outpatient services, such as outpatient surgery, laboratory, radiology, respiratory therapy, cardiology, and physical therapy services. The company also operates psychiatric hospitals, which provide therapeutic programs comprising child, adolescent and adult psychiatric care, adult and adolescent alcohol and drug abuse treatment, and counseling. In addition, it operates outpatient health care facilities consisting of freestanding ambulatory surgery centers, freestanding emergency care facilities, urgent care facilities, walk-in clinics, diagnostic and imaging centers, rehabilitation and physical therapy centers, radiation and oncology therapy centers, physician practices, and various other facilities. As of December 31, 2015, the company operated 164 general, acute care hospitals with 43,275 licensed beds; 3 psychiatric hospitals with 396 licensed beds; and 1 rehabilitation hospital, in addition to 116 freestanding surgery centers.
Valero Energy Corporation (NYSE:VLO), jumped 0.11% and closed at $53.85 in the last trading session. The last trading range of the stock ranges between $53.00 and $54.52. During the 52-week trading session the minimum price at which share price traded, registered at $46.88 and reached to max level of $73.88. Valero Energy Corporation operates as an independent petroleum refining and marketing company in the United States, Canada, the Caribbean, the United Kingdom, and Ireland. It operates through two segments, Refining and Ethanol. The Refining segment is involved in refining, wholesale marketing, and bulk sales and trading activities. This segment produces conventional and premium gasolines, gasoline meeting the specifications of the California Air Resources Board (CARB), reformulated gasoline blendstock for oxygenate blending, diesel fuels, low-sulfur and ultra-low-sulfur diesel fuels, CARB diesel fuel, distillates, jet fuels, asphalts, petrochemicals, lubricants, and other refined products. As of February 19, 2016, it owned 15 petroleum refineries with a combined throughput capacity of about 3.0 million barrels per day. This segment also markets its refined products through bulk and rack marketing network; and through about 7,500 outlets under the Valero, Diamond Shamrock, Shamrock, Ultramar, Beacon, and Texaco brand names. The Ethanol segment produces and sells ethanol and distillers grains mainly to refiners and gasoline blenders, in addition to to animal feed customers. This segment operates 11 ethanol plants with a combined ethanol production capacity of about 1.4 billion gallons per year. The company also operates a 50-megawatt wind farm; convenience stores; filling stations, in addition to truckstop, cardlock, and home heating oil facilities; and credit card business. The company was formerly known as Valero Refining and Marketing Company and changed its name to Valero Energy Corporation in August 1997.