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  • June 25- Rare earths miner Molycorp Inc filed for Chapter 11 bankruptcy protection on Thursday along with its North American subsidiaries to restructure $1.7 billion of debt in its U.S. and Canadian operations. Molycorp has also obtained agreement for up to $225 million in new debtor-in-possession financing, it said in a statement. The Birmingham, Alabama-...

  • WASHINGTON, June 24- Zimmer Holdings Inc said it closed a $14 billion deal to buy rival orthopedic products maker Biomet Inc on Wednesday shortly after winning U.S. antitrust approval on condition that it divest certain assets. Zimmer said in a statement that with the acquisition it was changing its name to Zimmer Biomet Holdings, Inc. The assets to be sold...

  • NEW YORK, June 24- When U.S. companies go bust, bankruptcy laws ensure workers are among the first to get paid. A federal appeals court in Philadelphia last month endorsed an agreement among stakeholders of Jevic Transportation Inc to toss the trucking company's bankruptcy case out of court before a formal Chapter 11 exit plan was approved.

  • WASHINGTON, June 24- Zimmer Holdings Inc has won U.S. antitrust approval to buy rival orthopedic products maker Biomet Inc on condition that it divest certain assets, the Federal Trade Commission said on Wednesday. Zimmer had said when it announced the proposed transaction in April 2014 that the $13 billion deal would double the size of its spine and dental...

  • NEW YORK, June 23- Puerto Rico's distressed power authority, PREPA, will meet in New York on Thursday with its creditors, which have offered a new debt restructuring plan in response to a PREPA proposal earlier this month, three people familiar with the talks told Reuters. Restructuring talks are in crunch time, with PREPA facing a July 1 interest payment it has said...

  • CALGARY, Alberta, June 23- Pipeline company TransCanada Corp and oil and gas producer Encana Corp both said on Tuesday they were cutting jobs, joining other Canadian energy firms that have laid off staff since global oil prices slumped. TransCanada, the backer of the controversial Keystone XL pipeline project, said it cut 185 jobs following a restructuring to...

  • It's official: Verizon closes AOL acquisition Tuesday, 23 Jun 2015 | 10:27 AM ET
    Verizon to buy AOL for $4.4 billion.

    AOL's Tim Armstrong and Verizon's Marni Walden say the combined companies can be the No. 1 global media technology player.

  • KUALA LUMPUR, June 23- Malaysia's Tenaga Nasional Bhd plans to raise as much as 10 billion ringgit in an Islamic bond issue, sources familiar with the matter said- a move that comes after it agreed to buy debt-laden 1 MDB's majority stake in a power plant project. Tenaga, Malaysia's national utility in which state investor Khazanah is the biggest shareholder, is...

  • LONDON, June 22- GlaxoSmithKline has agreed to sell two meningitis vaccines to Pfizer to satisfy antitrust concerns after its recent acquisition of vaccines business of Novartis. The British drugmaker said on Monday that the total consideration for the sale of its Nimenrix and Mencevax products to Pfizer's Irish unit, including some deferred payments, was...

  • LONDON, June 22- A committee of Ukraine's bondholders said on Monday that a debt restructuring plan proposed by Kiev was based on IMF estimates that were not yet publicly available, adding it hoped to meet with the Fund and Ukraine's government soon. Ukraine is negotiating with foreign bondholders to restructure $23 billion of debt as part of a broader...

  • The planned factory, first reported by Reuters last November, represents a belated step by Paris- based Peugeot to expand into lower-cost vehicles and emerging markets, reducing its exposure to Western Europe's relatively stagnant demand and high production costs. Peugeot said it expects the plant to source 60 percent of components locally, rising to 80...

  • HEDGE FUND RESEARCH SAYS 217 HEDGE FUNDS WENT OUT OF BUSINESS IN Q1, HIGHEST NUMBER SINCE EARLY 2014.

  • June 19- Chocolate maker Hershey Co cut its full-year sales growth forecast, citing weak sales in China, and said it would cut 300 jobs by the end of the year. The company has also made changes to its leadership team under a new productivity program that it expects will result in $65 million to $75 million in pretax savings, primarily in 2016.. Hershey's shares were...

  • NEW YORK, June 18- Creditors of Puerto Rico's struggling electric power utility PREPA have agreed to extend a creditor agreement to June 30, the utility said on Thursday, a move which allows crucial restructuring talks to continue. PREPA, with about $9 billion of debt, also has a June 30 deadline by which to reach a restructuring deal with creditors.

  • NEW YORK, June 18- Bondholders of Puerto Rico's struggling electric power utility PREPA have offered to extend a creditor agreement to the end of this month, allowing crucial restructuring talks to continue, a source familiar with the bondholders said on Thursday. PREPA, with around $9 billion of debt, has a June 30 deadline by which to reach a restructuring deal...

  • NEW YORK, June 18- Bondholders of Puerto Rico's struggling electric power utility PREPA have offered to extend a creditor agreement due to expire on Thursday, to the end of June, a source familiar with the bondholders said. Talks to restructure the utility remain underway, the source said. At least 60 percent of creditors are needed to approve an extension.

  • June 18- News Corp, owner of the Wall Street Journal, is carrying out a major reorganization at its Dow Jones news publishing unit that will involve job cuts and shifting resources to digital media. Dow Jones, which has about 5,000 employees worldwide, will close bureaus in Prague and Helsinki and cut jobs in bureaus in Europe and Asia, Gerard Baker, editor-in-chief...

  • June 18- News Corp, owner of the Wall Street Journal, is carrying out a major reorganization at its Dow Jones news publishing unit that will involve job cuts and shifting of resources into digital media, the Wall Street Journal reported. Dow Jones will close bureaus in Prague and Helsinki and cut jobs in bureaus in Europe and Asia, Gerard Baker, editor in chief of Dow...

  • June 18- PBF Energy Inc agreed to pay $322 million to acquire the 189,000- barrel-per-day Chalmette oil refinery in Louisiana and related assets from Exxon Mobil Corp and Venezuela's national oil company, Petroleos de Venezuela SA. The purchase marks PBF's entrance into the U.S. Gulf Coast, where it had lost out on a bid in 2011 for Texas City Refinery, then owned...

  • LONDON, June 18- Asset management company Baillie Gifford, oil producer Dragon Oil's largest independent investor, said an increased takeover offer from majority owner Emirates National Oil Co "materially undervalued" the company. ENOC, which owns 54 percent of Dragon Oil, increased its bid to buy out minority shareholders to 750 pence per share on Tuesday,...