Interoil Corporation’s (NYSE:IOC) liquified natural gas project in Papua New Guinea does not expect a bid for an operating stake from Chevron (NYSE:CVX), according to an industry source to PNGIndustryNews.net. Chevron shares closed up 1.79 percent on the day at $78.37, and have traded in a 52-week range of $31.18 to $78.69.
Johnson & Johnson (NYSE:JNJ) has posted its global sales figures for the second the quarter: Consumer, $3.62 billion; pharmaceutical, $6.29 billion; RisperdalConsta, $355 million; orthopaedics, $1.63 billion; cardiovascular, $504 million; medical device and diagnostics, $6.57 billion; and domestic, $7.36 billion. Shares closed up 0.8 percent on the day at $69.00, having been traded in a 52-week range of $59.08 to $68.74.
Lakeland Bancorp (NASDAQ:LBAI) posts second quarter earnings per share of 20 cents, versus consensus of 19 cents. Shares closed down 0.36 percent on the day at 10.93, and have traded in a 52-week range of $6.7143 to $11.00.
Mercantile Bank Corporation (NASDAQ:MBWM) reports second quarter earnings per share of 36 cents, against consensus of 27 cents. Shares closed up 0.11 percent on the day at $18.57, and have been traded in a 52-week range of $7.51 to $18.66.
M*modal Inc. (MODL) disclosed in a filing, referring to a rival as Party A, “Party A’s outside counsel submitted a revised proposal to representatives of Simpson Thacher including an unchanged purchase price of $17.00 per share and an antitrust reverse termination fee increased by $10.0 million from its previous offer to $150.0 million. Party A’s outside counsel indicated that its proposal remained subject to certain outstanding diligence issues and resolution of the issues in the draft merger agreement…[M*Modal’s] Board then proceeded to discuss whether such revised proposal delivered the highest value for the Company’s stockholders taking into account certainty of closing and the risk of continuing due diligence and negotiation with Party A in light of the deadline associated with OEP’s proposal. Following discussion, the Board determined that Party A’s revised proposal did not adequately address the concerns previously raised at the prior Board meetings and posed too much uncertainty due to significant timing and antitrust risks involved..the Board, by unanimous vote (other than Mr. Davenport, who was not present for the deliberations or the vote), approved and authorized the execution and delivery of the merger agreement and other transaction documents with [One Equity Partners].” Shares closed up 2.35 percent on the day at $14.35, have been traded in a 52-week range of $6.21 to $14.08.
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