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Tag Archives: Shareholders

ExxonMobil loses AAA credit rating as debt increases

ExxonMobil loses AAA credit rating as debt increases

Standard & Poor stripped ExxonMobil of its AAA credit rating due to a plunge in oil prices and weak forecast. The Texas-based company was downgraded to an AA+ credit rating. The ratings agency cited “low commodity prices, high reinvestment requirements, and large dividend payments.” The decision comes as Exxon’s debt has increased substantially. “The company’s debt level has more than ...

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French courts caught up in Yukos vs. Russia assets fight

French courts caught up in Yukos vs. Russia assets fight

PARIS (AP) — The fight between Russia’s government and magnate Mikhail Khodorkovsky’s dismantled Yukos oil company has spread to courtrooms across Europe — and even into space. France has seen multiple court cases in recent months that had entangled rocket and satellite builders and others, in Yukos’ efforts to recover money it says the Kremlin unfairly appropriated. Former Yukos shareholders ...

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Chesapeake stock tumbles, rises after investors spooked

Chesapeake stock tumbles, rises after investors spooked

OKLAHOMA CITY — Share prices for Chesapeake Energy stock were down more than 50 percent for a time Monday after a news report said the Oklahoma City-based company had brought on attorneys who help companies restructure their debt, but rebounded after the natural gas producer told investors that it was not planning to file for bankruptcy protection. Chesapeake said it ...

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Shell shareholders approve deal to buy UK rival BG

Shell expects 4th Q profits to drop at least 40 percent

LONDON — Royal Dutch Shell shareholders have overwhelmingly backed the 34 billion pound ($49 billion) bid to buy BG Group, despite a slide in oil prices that have had some critics wondering about the wisdom of the mega-deal. More than 80 percent of shareholders approved the move on Wednesday. The deal will boost Shell’s oil and gas reserves by 25 ...

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Shareholders approve $7.6B deal

shake hands

Dresser-Rand Group shareholders have approved a $7.6 billion deal with Siemens Energy Inc. On November 20, a meeting was held with Houston-based Dresser-Rand stockholders to vote on Siemens Energy acquiring the company.  Of the votes that were cast, 98.9 percent were in favor of the acquisition. The deal is expected to close by next year. Dresser-Rand stockholders will receive $83 ...

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Exterran spins off two businesses

pump jack

On Monday, Exterran Holdings announced it will be spinning off its international compression services and fabrication businesses. The split will turn the company into two different corporations. On one side, known as the remaining company, is a master limited partnership consisting of Exterran Partners LP and a new top-level company. The other side will be a spin-off of the company. ...

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Shareholders file lawsuit against Athlon Energy Inc.

gavel

Athlon Energy Inc. board of directors is under investigation for possible breaches of fiduciary duty during the $6 billion sale of the company to Encana. Several shareholder law firm agencies, including Pennsylvania-based Ryan & Maniskas, New York-based WeissLaw LLP, and California-based Robbins Arroyo LLP, are taking part in the investigation regarding the Athlon board members. There are possible claims stating ...

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