New Law Blogs

Cardero Grants Nanjinzhao Extension To Pampa De Pongo Purchase Agreement

Posted on April 17, 2009
Nanjinzhao requested the extension due to minor delays encountered with finalizing approvals from departments of the Chinese Central Government. To date, Nanjinzhao has informed the Company it has received approvals from City, District and Provincial levels and anticipates final Federal-level approval very shortly...

Litigation Settlement Agreement Reached

Posted on April 15, 2009
ScanSource and the individual parties have steadfastly maintained the claims raised in the litigation are meritless, and as part of the settlement, the parties continue to deny any liability or wrongdoing.

Cogo Group, Inc. Announces Agreement To Acquire Mega Smart - Deal Will Expand Company?s Industrial Applications Business

Posted on April 15, 2009
SHENZHEN, China, April 14, 2009 - Cogo Group, Inc. (Nasdaq: COGO) a China-based provider of customized module design solutions, engineering and technology services to domestic and international companies, today announced it has entered a Share Purchase Agreement to acquire Mega Smart Group Limited (?Mega Smart?), a pioneer in China?s developing industrial applications market.

Patrick Industries, Inc. Completes New Amendment of Its Credit Agreement

Posted on April 15, 2009
Pursuant to the Third Amendment entered into on April 14, 2009, the lenders waived any actual or potential Event of Default (as defined in the Credit Agreement) resulting from the Company's failure to comply with the one-month and two-month Consolidated earnings before interest, taxes, depreciation and amortization ("EBITDA") financial covenants for the fiscal months ended March 1, 2009 and March.

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Entrust Enters Into Agreement To Be Acquired BY Thoma Bravo Shareholders To Receive $1.85 Per Share In Cash; Transaction Valued At $114 Million

Posted on April 13, 2009
Under the terms of the agreement, Entrust's shareholders will receive $1.85 in cash for each share of Entrust common stock they hold, representing a premium of approximately 22.4 percent over Entrust's average closing share price of $1.51 during the 30 trading days ending April 9, 2009 and 25...

Infocus To Be Acquired For $0.95 Per Share Or Approximately $39 Million

Posted on April 13, 2009
The Board of Directors unanimously recommends that InFocus shareholders accept and tender their shares into the offer, which represents a 36% premium over the April 9th closing price of $0.70, the last trading day prior to the agreement, and a 90% premium over the last 30 day average closing price of $0...

San Joaquin Bancorp And Bank Regulators Enter Into Joint Agreement

Posted on April 10, 2009
San Joaquin Bancorp (OTCBB: SJQU) ("Bancorp"), a Bakersfield based bank holding company, and its subsidiary San Joaquin Bank (the "Bank"), a state chartered bank that is a member of the Federal Reserve System, announced today that they have mutually agreed to enter into a written agreement with the Federal Reserve Bank of San Francisco (the "Reserve Bank") and the California Department of...

National Holdings Corporation And Fund.com, Inc. Announce Agreement For $5 Million Strategic Investment

Posted on April 10, 2009
New York, New York, April 8, 2009 -- National Holdings Corporation (OTC BB: NHLD.OB) (?National?), a full service investment banking company operating through its wholly-owned subsidiaries, and Fund.com Inc. (OTC BB: FNDM.OB) (?Fund.com?), an online financial content provider, today announced that they have entered into a definitive purchase agreement whereby Fund...

Provident Bankshares Announces Stockholder Approval of Merger With M&T Bank

Posted on April 09, 2009
"We are pleased that our stockholders agree that the merger with M&T is in the best interests of the Company," said Gary N. Geisel, Chairman and CEO of Provident Bankshares. "We received strong support for the merger, with approximately 70% of all votes cast today approving the transaction...

Gulf Acquires Assets of Cannex Therapeutics LLC Will Develop Medical Cannabis Pharmaceutical Products

Posted on April 07, 2009
ADDISON, TX -- Gulf Onshore Inc (OTCBB: GFON.OB) announced today that it has acquired the assets of Cannex Therapeutics and will continue development of its medical cannabis-based pharmaceutical products. Cannex Therapeutics is a privately owned California group founded and operated by Medical Cannabis pioneer and entrepreneur Steven W...

Supportsoft Announces Definitive Agreement To Sell Enterprise Business - Conference Call Today At 10:30am Et (7:30am PT) -

Posted on April 06, 2009
The proposed transaction is subject to customary conditions to closing, including approval of SupportSoft's stockholders. The Board of Directors of SupportSoft has unanimously approved the definitive agreement and agreed to recommend that SupportSoft's stockholders approve the transaction...

Thornburg Mortgage Announces Additional Forbearance Agreements, Sale of Its Remaining Assets And Discontinuance of Operations

Posted on April 06, 2009
As a result of the expected and realized deficiency claims, the Company has also agreed to cooperate with the Counterparties to transfer the Company's mortgage servicing rights, which were granted to the Counterparties as security for the Company's obligations to the Counterparties under their respective financing agreements.

Bristol-myers Squibb Announces Extension of U.s. Agreement For Abilify And Establishment of An Oncology Collaboration With Otsuka

Posted on April 06, 2009
Company confirms 2007-2010 15% non-GAAP EPS CAGR and expects minimum $0.30 accretion in 2013 and 2014 Princeton, New Jersey, April 6, 2009 – Bristol-Myers Squibb Company (NYSE: BMY) today announced an agreement with Otsuka Pharmaceutical Co., Ltd. (hereafter, "Otsuka") to extend the U...

Angiotech Pharmaceuticals, Inc. Announces License Agreement With Baxter International Inc.

Posted on April 03, 2009
Angiotech and Baxter initially entered into a Distribution and License Agreement in 2003 relating to certain intellectual property for Angiotech's COSEAL® surgical sealant. The Distribution and License Agreement entitled Baxter to market and sell COSEAL worldwide (excluding Japan), from which Angiotech has derived royalty revenue from Baxter...

China Holdings Acquisition Corp. Withdraws Pre-conditional Offer To Acquire Bright World Precision Machinery Limited

Posted on April 03, 2009
CHAC entered into a definitive agreement on July 20, 2008 (subsequently revised on October 24, 2008) with World Sharehold Limited ("World Share"), the majority shareholder of Bright World, Mr. Wang Wei Yao and Mr. Shao Jian Jun, pursuant to which CHAC agreed to make a voluntary conditional cash offer, upon satisfaction of certain pre-conditions, including that, after July 20, 2008, no change...

Anthracite Capital Extends Existing Short Term Agreements With Lenders

Posted on April 02, 2009
Anthracite Capital, Inc. is a specialty finance company focused on investments in high yield commercial real estate loans and related securities. Anthracite is externally managed by BlackRock Financial Management, Inc., which is a subsidiary of BlackRock, Inc...

Polaris Acquisition Corp. Announces Shareholder Approval And Closing of Merger With Hughes Telematics, Inc.

Posted on April 01, 2009
NEW YORK, NY ? April 1, 2009 ? Polaris Acquisition Corp. announced that late yesterday afternoon it received shareholder approval and completed its merger with HUGHES Telematics, Inc.  In connection with the merger, Polaris was renamed HUGHES Telematics, Inc...

Sciclone And Sigma Tau Reach Agreement To Resolve Director Election Contest For 2009 Annual Meeting of Sciclone Stockholders

Posted on April 01, 2009
FOSTER CITY, CA, March 31, 2009-SciClone Pharmaceuticals, Inc. (NASDAQ: SCLN) ("SciClone") announced today that SciClone and Sigma-Tau Finanziaria, S.p.A. and certain of its affiliated individuals and corporations (referred to in this press release collectively as "Sigma-Tau") have entered into a definitive agreement (the "Settlement Agreement")...

Colonial Bancgroup Signs Definitive Agreement With Investors Led BY Taylor, Bean & Whitaker For A $300 Million Investment

Posted on April 01, 2009
It is anticipated that Colonial will continue to operate as a stand-alone publicly-traded company with an independent board of directors and management team. Following completion of the transaction, on an as-converted basis, the Investors' will own approximately 75% of Colonial's common stock outstanding and the proforma tangible common book value per share as of December 31, 2008 would have been.

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