Dorman Products To Buy Dayton Parts For $338 Mln

Dorman Products, Inc. (DORM) announced that it has agreed to acquire Dayton Parts for $338 million. The transaction, which is subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act, is expected to close in the second half of 2021.

Dorman Products expects the acquisition is expected to be immediately accretive to adjusted diluted earnings per share, excluding one-time charges and acquisition-related intangible assets amortization.

The acquisition is expected to significantly expand Dorman’s heavy-duty manufacturing and distribution platform, providing strategically placed distribution centers closer to wholesale distributors throughout the United States and Canada.

In connection with the transaction, Dorman expects to enter into a new $600 million revolving credit facility. Borrowings under this new credit facility that are used to complete the transaction will result in net leverage of less than 1.0x.

Until the transaction closes, both companies will operate independently and execute on their respective strategic priorities.

China Tourism aims for $7 billion Hong Kong listing – sources

HONG KONG (Reuters) – China Tourism Group Duty Free Corp Ltd aims to raise up to $7 billion in a Hong Kong secondary listing, two people with direct knowledge of the matter told Reuters.

The people declined to be identified as the information is not yet public.

The Shanghai-listed company did not respond to a request for comment on the size of the deal.

The firm has lodged a filing for the listing with Hong Kong’s stock exchange. At $7 billion, it would be the city’s largest listing in nearly two years.

China’s cyber power 'exaggerated,' at least decade behind US, new study says

Rep. Nunes calls out ‘hypocrisy’ in US corporations doing business in China

Rep. Devin Nunes, R- CA, on risks of U.S. corporations working with China and President Biden’s press conference on his infrastructure bill.

The International Institute for Strategic Studies, a think tank, published a new study on Monday that ranked the U.S. as the world’s only “top tier” cyber power and said China is firmly within the second group– joined by Russia and France, to name a few. 

The Financial Times, citing the study, reported that IISS estimated that China is—at the minimum—10- years from competing with the U.S., largely due to lingering security issues. The report said Beijing has demonstrated a keen ability to perform offensive cyberattack and disinformation campaigns, but the country suffers from loose security.

Greg Austin, a member of the think tank, told the FT that China’s cyber ability can be overstated due to legitimate gains it made in AI and other cyber abilities.

“On every measure, the development of skills for cybersecurity in China is in a worse position than it is in many other countries,” he said. 

Noah Lyles wins 200-meter dash at U.S. Olympic track and field trials in world-leading time

Noah Lyles is back.

The 2019 world 200-meter champion saved his best for last. After not crossing the line first in the qualifying rounds, Lyles made sure he was first to the finish line in the final race of the U.S. track and field Olympic trials on Sunday.

Lyles ran a world-leading 19.74 to win the men’s 200 meters. Kenny Bednarek ran a season-best 19.78 to place second and 17-year-old Erriyon Knighton ran a personal-best 19.84 to qualify for the Tokyo Olympics.

Lyles’ world-leading time instantly inserted him as the Olympic favorite in the men’s 200 meters in Tokyo. The 23-year-old sprinter won the men’s 200 meters at the 2019 world championships in Doha.

MORE TO COME

World champion @LylesNoah is TOKYO-BOUND! ✈️@usatf | #TrackFieldTrials21 x #TokyoOlympicspic.twitter.com/2vNi9EknYB

Dole Recalls Fresh Blueberries For Cyclospora Risk

Dole Diversified North America, Inc. is recalling a limited number of cases of Dole Fresh Blueberries for potential Cyclospora contamination, the U.S. Food and Drug Administration said.

The affected products were packaged in a variety of clamshell sizes, including 18 oz with UPC code 0 71430 01154 6; Pint with UPC code 0 71430 01151 5; 6 oz with UPC code 07143001150 8; and 24 oz with UPC code 071430011155 3. The pack out dates varies from May 28 through June 9.

The product lot code is located on the top label of the clamshell. The impacted products were distributed in four US states, such as IL, ME, NY, and WI, and two Canadian provinces of Alberta and British Columbia.

No other Dole products are included in the recall.

Cyclosporiasis is an intestinal infection caused by the Cyclospora parasite after ingesting contaminated food or water. Common symptoms include severe abdominal pain, diarrhea, nausea and vomiting, body aches and fatigue. The infection is treated with antibiotics.

However, the company has not received any reports of illnesses related to the recall to date.

Consumers are advised to check any product they have in their homes and discard any matching product.

In similar recalls, Harrisonburg, Virginia-based Shenandoah Growers Inc. in February called back branded fresh cut, packaged organic basil clamshells due to a possible health risk from Cyclospora.