Rival Archives - Zxcoachoutlet

Citadel Securities to buy NYSE market-making unit of rival IMC Financial Markets

October 9, 2020

Electronic trading giant Citadel Securities will bolster its already huge presence at the New York Stock Exchange by buying the NYSE market-making business of smaller rival IMC Financial Markets, the companies said.

The deal would solidify Citadel Securities’ status as the largest designated market maker at the exchange. DMM firms are tasked with ensuring orderly trading of stocks listed on the NYSE. They gain certain trading privileges in return, and their blue-jacketed traders occupy a prominent position in the center of the exchange’s historic trading floor.

The deal is subject to approval by the NYSE. If it is completed, Citadel Securities would oversee trading for more than half of the securities listed on the exchange. It would also reduce the number of DMM firms at the Big Board to three from four, potentially raising concerns that the DMM business is becoming overly concentrated.

IMC, a global trading firm based in

Citadel Securities to Buy NYSE Market-Making Unit of Smaller Rival IMC

October 8, 2020

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Electronic trading giant Citadel Securities will bolster its already huge presence at the New York Stock Exchange by buying the NYSE market-making business of smaller rival IMC Financial Markets, the companies said.

The deal would solidify Citadel Securities’ status as the largest designated market maker at the exchange. DMM firms are tasked with ensuring orderly trading of stocks listed on the NYSE. They gain certain trading privileges in return, and their blue-jacketed traders occupy a prominent position in the center of the exchange’s historic trading floor.

The deal is subject to approval by the NYSE. If it is completed, Citadel Securities would oversee trading for more than half of the securities listed on the exchange. It would also reduce the number of DMM firms at the Big Board to three from four, potentially raising concerns that the DMM business is becoming overly concentrated.

The Wall Street Journal first reported the

Iowa Republican files FEC complaint over ‘dark money’ going to Sen. Ernst’s Dem rival

October 8, 2020

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A prominent Iowa Republican has filed a Federal Election Commission complaint alleging Iowa Democrat Senate candidate Theresa Greenfield is improperly coordinating with outside political action groups.

Greenfield has coordinated more than $900,000 worth of communications with the Senate Majority PAC run by the allies of Minority Leader Chuck Schumer, the complaint alleges.

“There is reason to believe Greenfield, her campaign, and the IDP violated the Act by soliciting an illegal contribution from SMP [Senate Majority Pac],” said the complaint filed by Wes Enos, a Bondurant City Councilman and former Polk County GOP chairman.

DEM CHALLENGER TO IOWA SEN. ERNST SAYS POLICE RIDDLED WITH ‘SYSTEMIC RACISM’

The Federal Election Campaign Act of 1971 says campaigns are only allowed to accept in-kind contributions of $5,000 per year from multicandidate committees.

Enos’ complaint highlights a Sept. 17 tweet from Iowa Democratic Party spokesperson Jeremy Busch which links to a page on the organization’s

Devon Energy to buy shale-oil rival WPX Energy for $2.56 billion

September 28, 2020

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(Reuters) – U.S. oil and gas producer Devon Energy Corp DVN.N said on Monday it will buy shale-oil rival WPX Energy Inc WPX.N for $2.56 billio(£1.99 billion) as it looks to boost its presence in the top U.S. oilfield.

FILE PHOTO: A WPX Energy natural gas drilling rig in Parachute, Colorado, December 10, 2014. REUTERS/Jim Urquhart

The all-stock deal comes as U.S. shale companies have posted big losses on weak crude prices amid the COVID-19 pandemic and have struggled to raise new capital to restructure debt.

But as producers seek out combinations to survive the coronavirus-induced slump in demand, deals at little or no premium are becoming the norm.

Investors cheered the deal, pushing up WPX shares 17% in Monday afternoon trading, to $5.22, while Devon rose nearly 13% to $9.94.

“Sector consolidation remains a critical focus, though we think news of a DVN/WPX combination is somewhat unexpected and could

Garrett Motion Rejects Rival Creditor Offers for Bankruptcy Loan

September 28, 2020

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(Bloomberg) — Auto-parts maker Garrett Motion Inc. rejected an alternative bankruptcy loan offered by Oaktree Capital Management and Centerbridge Partners, and a second one from a group of bondholders, instead selecting a revised deal from senior lenders.

a screen shot of a computer: A monitor displays Garrett Motion Inc. signage on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, Oct. 1, 2018. U.S. stocks rose toward records, while the Canadian dollar and Mexican peso gained after negotiators agreed to a new version of the Nafta trade pact.

© Bloomberg
A monitor displays Garrett Motion Inc. signage on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, Oct. 1, 2018. U.S. stocks rose toward records, while the Canadian dollar and Mexican peso gained after negotiators agreed to a new version of the Nafta trade pact.

The renegotiated debtor-in-possession loan from senior lenders is a “material improvement” from the original and is the best option available, Chief Restructuring Officer Bruce Mendelsohn said in court papers Monday. The revised terms remove certain milestones for the company in court, allow longer financing extensions and reduce certain fees.

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Representatives for Garrett Motion and Oaktree declined to comment.

Devon Energy to Buy Shale-Oil Rival WPX Energy for $2.56 Billion | Investing News

September 28, 2020

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(Reuters) – U.S. oil and gas producer Devon Energy Corp

said on Monday it will buy shale-oil rival WPX Energy Inc

for $2.56 billion as it looks to boost its presence in the top U.S. oilfield.

The all-stock deal comes as U.S. shale companies have posted big losses on weak crude prices amid the COVID-19 pandemic and have struggled to raise new capital to restructure debt.

But as producers seek out combinations to survive the coronavirus-induced slump in demand, deals at little or no premium are becoming the norm.

Investors cheered the deal, pushing up WPX shares 17% in Monday afternoon trading, to $5.22, while Devon rose nearly 13% to $9.94.

“Sector consolidation remains a critical focus, though we think news of a DVN/WPX combination is somewhat unexpected and could be complicated by likely shareholder votes on both sides given relatively similar market caps,” Cowen analysts said.

Devon’s deal is

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