AIG Will Keep Deposit on International Lease Finance Corporation and 2 Other Hot Stocks to Follow
American International Group Inc. (NYSE:AIG): Current price $48.05
AIG executives said Friday that if its $4.2 billion deal with Chinese investors falls through, it intends to keep the 10 percent deposit the group made when it decided to acquire International Lease Finance Corp. In a second-quarter earnings call, AIG Chief Financial Officer David Herzog said of the company’s plans to keep the money, “It is not a break-up fee, We’ll pursue our rights under the terms of the contract,” Bloomberg reports. The group of Chinese investors has now missed three deadlines, the most recent being this week, to finalize the purchase.
Dell Inc. (NASDAQ:DELL): Current price $13.64
Dell’s board agreed to a package from founder Michael Dell that will add a special dividend of 13 cents per share to his previous offer. The firm says a group led by Michael Dell and investment firm Silver Lake Partners will add a onetime shareholder payout of 13 cents per share to an offer they made last week to acquire Dell for $13.75 per share. Shareholders were set to vote Friday morning on a lower offer at $13.65 per share, but that was postponed.
Boyd Gaming Corp. (NYSE:BYD): Current price $11.79
Boyd Gaming said Friday that it is offering 15 million shares of its common stock in an underwritten registered public offering. Along with the offering, the company will allow the underwriters a 30-day option to buy up to an additional 2.25 million shares. Boyd will use the net proceeds to redeem a portion of its 7.125 percent Senior Subordinated Notes due 2016 and for general corporate purposes. Deutsche Bank Securities and J.P. Morgan are serving as joint book-running managers for the offering. Shares were down more than 6 percent in mid-morning trading in New York.