On Monday, Shares of General Electric Company (NYSE:GE), added 0.07% and closed at $29.64 in the last trading session. The last trading range of the stock ranges between $29.40 and $29.70. GE (GE) declared that recently it has accomplished the formerly declared sale of its European, Middle East and Africa (EMEA) Commercial Distribution Finance (CDF) business to Wells Fargo, representing aggregate ending net investment (ENI) of about $0.8 billion as at the end of the second quarter of 2016.
This closing represents the final component of the formerly declared agreement to sell GE Capital’s global CDF, North American Vendor Finance and Corporate Finance businesses to Wells Fargo, amounting to a total ENI of about $30 billion.
“We’re happy that CDF will continue to serve customers as a global franchise,” said Rich Laxer, chairman and CEO of GE Capital. “This closing also brings us nearer to the completion of our plans to sell most of the assets of GE Capital.”
As formerly declared, GE has embarked on a strategy to create a simpler, more valuable company by reducing the size of its financial businesses and by focusing on continued investment and growth in its world-class industrial businesses. GE will retain the financing businesses that relate directly to GE’s industrial businesses.
Winnebago Industries, Inc. (NYSE:WGO), jumped 23.67% and closed at $29.15 in the last trading session. The last trading range of the stock ranges between $26.45 and $30.60. The company’s Market capitalization is $788.64 Million with the total Outstanding Shares of 26.89 Million. Winnebago Industries, Inc. (WGO) recently declared that it has reached a definitive agreement to acquire Grand Design Recreational Vehicle Company (“Grand Design”), a manufacturer of towable recreation vehicles (RVs), for about $500 million in cash and newly issued Winnebago shares.
Founded in 2012 by Don Clark, Ron Fenech and Bill Fenech, a administration team with over 80 years of combined leadership experience in the RV industry, Grand Design is a fast-growing manufacturer in the towables segment with rapidly expanding market share. The Company generated $428 million in revenue over the last twelve months ending August of 2016, representing a compound annual growth rate of over 80% since 2013, and a top tier EBITDA margin of 14%.(1) Grand Design is a portfolio company of global growth equity shareholder Summit Partners.
The acquisition is expected to be right away accretive to Winnebago’s growth profile, profit margins and earnings per share (EPS), apart from transaction costs and before giving effect to anticipated synergies. The transaction is expected to close by the end of Winnebago’s first fiscal quarter of 2017, subject to regulatory approvals and other customary closing conditions.
Barclays PLC (ADR) (NYSE:BCS), LOST -0.92% and closed at $8.61 in the last trading session. The last trading range of the stock ranges between $8.50 and $8.63. During the 52-week trading session the minimum price at which share price traded, registered at $6.76 and reached to max level of $15.86. Barclays PLC (the “Offeror”) launched invitations to holders of certain notes set out in the table below the (the “Notes”) issued by Barclays Bank PLC to tender such Notes for purchase by the Offeror (the “Offers”), subject to applicable offer and distribution restrictions.
Further to such invitations, the Offeror hereby informs the Noteholders that, as of the Expiration Deadline for the Offers (being 5:00 p.m. (New York City time) on 27 September 2016), the aggregate principal amount of each Series of Notes validly tendered and to be accepted for purchase, and the Purchase Price of each Series of Notes is as set out in the table below, and each such Noteholder is entitled to receive on the Settlement Date, being 30 September 2016, the applicable Purchase Price plus any Accrued Interest Payment.