Thursday, 17 Jun 2021

Biden To Meet Putin On June 16 In Geneva

Brookfield Infrastructure To Take Offer Directly To Inter Pipeline Shareholders – Quick Facts

Brookfield Infrastructure Partners L.P. (BIP, BIP.UN.TO), together with its institutional partners, announced Wednesday its intention to file a variation to its offer to acquire Inter Pipeline or IPL, by no later than June 4 2021, at a price per IPL common share currently valued at C$19.75.

Brookfield Infrastructure is taking its Offer directly to IPL shareholders. As the largest shareholder, it is disappointed by the seeming lack of fiduciary responsibility shown by the decision of the IPL Board of Directors to support an inferior proposal by Pembina Pipeline as announced by IPL on June 1, 2021.

Brookfield Infrastructure’s Offer was made privately to the Company prior to the IPL Board of Directors decision to accept the Pembina offer. It believes that IPL shareholders will reach a different conclusion than IPL’s Board of Directors about which transaction is most compelling to shareholders.

On Monday, Brookfield Infrastructure submitted its final offer valued at about C$19.50 per share comprised of 74% cash and 26% shares. The same evening they were informed that the “totality” of the competing offer from Pembina was superior, and exclusivity had already been signed.

Aurora fire leaves child with life-threatening injuries

A child is fighting for their life after an early morning townhome fire in Aurora, Aurora Fire Rescue said Wednesday.

The fire broke out just after midnight on the 2000 block of South Paris Way.

Crews rescued the child then hospitalized them.

Four people were also displaced from their homes, but the fire was called under control just before 4 a.m.

Aurora Fire Rescue says that “an investigator continues their work to determine origin and cause of the fire.”

Stock Alert: BlackBerry Gains 10%

BlackBerry Ltd. (BB) shares are rising more than 10 percent on Wednesday morning trade and reached a one-month high, continuing a bullish trend since May 17. There has been no stock-specific news today to push the stock higher.

The shares of intelligent enterprise security software and services provider is currently at $12.72, up 10.3 percent from the previous close of $1.56 on a volume of 40,130,923. For the 52-week period, the shares have traded in a range of $4.37-$28.77 on average volume of 15,248,271.

Dogecoin surges more than 25%, market cap grows to $54 billion on Coinbase listing this week

Dogecoin, the original meme asset, jumped on Wednesday following Coinbase's announcement that it will begin listing the cryptocurrency on its Pro platform this week.

Dogecoin is trading at about 42 cents Wednesday morning, that's up 25% for the day, according to Coin Metrics. The move gave it a $54 billion market cap, making it the sixth-largest cryptocurrency by market value, according to Coinbase.

The cryptocurrency is based on the 2013 Internet meme doge and was created in jest in the same year, when bitcoin's enthusiastic but niche community began to strengthen around its pseudonymous creator, Satoshi Nakamoto.

It's gained some relevance this year, however, following the endorsement and continuous hype on social media by Tesla CEO Elon Musk, who has become something of a cryptocurrency market mover with his tweets about dogecoin as well as bitcoin. In early May they fueled the crypto asset's rally to its all time high of 67 cents, per Coin Metrics. His appearance on SNL, in which he called dogecoin "a hustle," just as easily sent the price crashing back down.

Trading on Coinbase Pro will begin Thursday at 12 p.m. ET.

Take-Two Interactive Buys Mobile Games Developer Nordeus For Up To $378 Mln – Quick Facts

Take-Two Interactive Software, Inc. (TTWO) announced Wednesday that it has acquired privately-held mobile games developer Nordeus for up to $378 million. The upfront price of $225 million is comprised of cash and $90 million in newly issued shares of Take-Two common stock. The consideration also includes earn-out based upon Nordeus achieving EBITDA results above certain thresholds during each of the first two years.

The Nordeus founding team will receive the stock consideration and continue to run the company. The cash portion was funded from Take-Two’s cash on hand and is subject to standard closing adjustments.

The acquisition bolsters Take-Two’s mobile business and expands its sports offerings with Top Eleven, the soccer management game with over 240 million registered users.

The acquisition is Take-Two’s latest strategic initiative to bolster its mobile business following the 2017 and 2020 acquisitions of Social Point and Playdots, respectively, which are overseen by Nir Efrat, Senior Vice President and Head of Mobile for Take-Two.

Nordeus is led by its co-founders, Branko Milutinovic (CEO), Milan Jovovic (CCO), Ivan Stojisavljevic (CTO), and Tomislav Mihajlovic (COO), who will continue to oversee the studios’ approximately 180 employees following its acquisition by Take-Two. Milutinovic will report to Efrat.

Biden To Meet Putin On June 16 In Geneva

The stage is set for U.S. President Joe Biden’s first meeting with his Russian counterpart Vladimir Putin.

The meeting between the leaders of the two super powers is scheduled to take place in Geneva, Switzerland, on June 16.

“The leaders will discuss the full range of pressing issues, as we seek to restore predictability and stability to the U.S.-Russia relationship,” said a statement issued by the White House announcing the high profile summit.

“They are expected to spend a fair amount of time on strategic stability, where the arms control agenda goes following the extension of New START,” Press Secretary Jen Psaki said at a news conference.

Biden will also raise the issue of Ukraine, underscoring America’s support for Ukraine’s sovereignty and territorial integrity, and Washington’s grave concerns over developments in Belarus, she told reporters.

This will be one of three high-profile international meetings that Biden is scheduled to attend in Europe on three consecutive days.

The President will be in Brussels for the NATO summit on June 14.
He will meet with heads of the European Council and European Commission the following day.

“We have much to do together, from climate change to health, from trade and multilateralism to geopolitical challenges,” European Commission president Ursula Von der Leyen said about the upcoming EU-U.S. summit.

Related Posts