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Common Shares

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BUSINESS
May 30, 1996
MAI Systems Corp.'s board approved a proposal to increase the number of authorized common shares to 25 million from 10 million. MAI said the board also increased the number of shares in the company's employee stock option plan by 182,500 to an aggregate of 1 million. MAI installs and supports information systems solutions primarily in the hospitality, gaming, manufacturing and distribution industries.
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BUSINESS
December 30, 2010 | Bloomberg News
Ally Financial Inc., an auto and home lender bailed out by the U.S., moved closer Thursday to regaining its independence as the government converted $5.5 billion of preferred stock into common shares. The swap involves almost half the Treasury Department's preferred stock and boosts taxpayers' stake to 74% of Ally's common shares from 56.3%. The move is "designed to accelerate Treasury's ability to exit its investment," the department said. The government is looking to recover its $17.2-billion investment tied to Detroit-based Ally as Chief Executive Michael Carpenter readies the company for an initial public offering.
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BUSINESS
August 11, 1997 | Dow Jones
QLogic Corp. has begun a 2.3-million common share offering at $31.25 a share. The company said it expects net proceeds of about $67.4 million from the sale, which it plans to use for working capital and general corporate purposes. Managing underwriters of the offering are Cowen & Co., Prudential Securities Inc. and Morgan Keegan & Co. They have a 30-day period to exercise an option to buy up to 345,000 additional common shares to cover over-allotments.
BUSINESS
September 29, 2010 | Reuters
American International Group is seeing plans to free itself of U.S. government support start to come together two years after it was bailed out and expects taxpayers to profit from their investment. AIG is close to finalizing a plan for the government to sell its stake in the insurer, which would see the Treasury Department convert $49 billion of preferred stock into common shares to be sold over time, Chairman Steve Miller said Wednesday. AIG also is close to selling two life insurance units in Japan to Prudential Financial Inc. for about $4.8 billion in cash, a source familiar with the matter said.
BUSINESS
November 20, 1999 | (Dow Jones)
Sicor Inc., an Irvine maker of injectable drugs, has registered to offer more than 9.5 million common shares on behalf of five selling stockholders, according to a shelf registration filed with the Securities and Exchange Commission. The offer included 867,500 shares that can be issued upon exercise of warrants to investors at $5.75 per share. The proposed maximum offering price is $4.59 a share. The primary selling stockholders are Stamford Investments Ltd., with 5.
BUSINESS
October 22, 1996 | Barbara Murphy
Dole Food Co. said it will buy back as much as 5% of its 60.1 million common shares outstanding. Dole, a fruit and vegetable processor based in Westlake Village, said one reason for the buyback is to increase earnings per share by reducing the total number of its outstanding shares. The timing of the purchases and the exact number of shares to be bought will depend upon market conditions, the company said.
BUSINESS
November 23, 1993
TIG Holdings Inc., the New York-based holding company for Transamerica Insurance Group in Woodland Hills, said it has filed a registration statement with the Securities and Exchange Commission for an offering of 17.3 million of its common shares. The shares are owned by Transamerica Corp., TIG's former parent company. TIG will not receive any of the money raised from the stock sale. Transamerica Insurance is a property and casualty insurer.
BUSINESS
June 4, 1996 | BARBARA MURPHY
ACT Networks has filed with the Securities and Exchange Commission for the sale of 3 million common shares. The stock sale calls for Camarillo-based ACT to sell 1.51 million shares and existing investors to sell 1.49 million shares, according to the registration statement. ACT plans to use its proceeds for general corporate purposes, including working capital and possible acquisitions. The stock sale will raise the number of shares outstanding by some 20.2% to 8.96 million.
BUSINESS
April 5, 1985
Aetna Life & Casualty could raise more than $250 million of new capital to shore up its hard-pressed casualty insurance business in its first public offering of common stock in 55 years. Net proceeds will be "used primarily to support its basic insurance, primarily the casualty-property lines and financial-services business," the company said.
BUSINESS
December 21, 1993
CSL Lighting Manufacturing Inc. will sell 1.6 million common shares for up to $5 each in the company's initial public stock offering. The Valencia-based company designs and manufactures fixtures for commercial and residential customers. Company officials will use the proceeds to repay debt and for marketing and working capital.
BUSINESS
May 20, 2009 | Tom Petruno
Bank of America Corp. is making progress filling the capital hole on its balance sheet. The bank said Tuesday that it had raised $13.5 billion since May 8 by selling new shares to investors. After conducting "stress tests" of 19 major banks, the government told 10 of them on May 7 that they needed to increase their capital levels. Bank of America was told it needed to find $34 billion in additional capital by November.
BUSINESS
February 28, 2009 | Jim Puzzanghera
In agreeing to become the biggest owner of Citigroup Inc.'s common stock, the government is moving as close as it has come in 25 years to nationalizing a major bank, demonstrating a continued willingness to act aggressively to address the financial crisis. "I think it underlines what they've already been saying," said Douglas J. Elliott, an economics fellow at the Brookings Institution and a former investment banker. "One, they're going to make sure these banks are not going to go under.
BUSINESS
February 13, 2009 | Associated Press
Struggling Charter Communications Inc., the nation's fourth-largest cable operator, said Thursday that it planned to file a prearranged Chapter 11 bankruptcy by April 1. Charter, which is controlled by Microsoft Corp. co-founder Paul Allen, said it had reached an agreement in principle with holders of $8 billion in debt, who will give up repayment of their debt.
BUSINESS
January 16, 2009 | Bloomberg News
Maguire Properties Inc. founder Robert F. Maguire increased his stake in downtown Los Angeles' largest office landlord to 9.8% and said he might seek talks with the company, investors or potential partners. Maguire, 73, who quit Maguire Properties as chairman and chief executive in May, bought 1.56 million shares of the Los Angeles-based company's common stock for about $2.99 million from Dec. 9 through Jan. 13, he said Thursday in a filing with the Securities and Exchange Commission.
BUSINESS
November 6, 2008 | Tom Petruno, Petruno is a Times staff writer.
Whole Foods Market Inc. reported another quarter of dismal results Wednesday, but the company's battered stock rallied on news that Los Angeles-based private equity firm Leonard Green & Partners will pump $425 million in capital into the retailer. Green, a well-known investor in the retail sector, is buying preferred stock that is convertible into a 17% stake in Whole Foods' common shares.
BUSINESS
October 21, 2005 | From Dow Jones/Associated Press
SkinMedica Inc., a Carlsbad, Calif.-based maker of skin-care products, Thursday withdrew its initial public offering registration with the Securities and Exchange Commission because of "market conditions." The company originally filed for an IPO in April and set the terms last month at 5.25 million common shares with an estimated price range of $11 to $13 a share.
BUSINESS
August 19, 2004 | From Dow Jones/Associated Press
Underwriters for WebSideStory Inc., which measures website activity for companies, Wednesday cut the estimated price range for the company's pending initial public offering to $8 to $9 a share from $10 to $12 a share. According to an amended filing with the Securities and Exchange Commission, the size of the offering will remain at 5 million shares, including 600,000 shares being sold by current stockholders.
BUSINESS
December 12, 2003 | Nancy Rivera Brooks, Times Staff Writer
Edison International directors voted Thursday to reinstate the common stock dividend axed three years ago, a milestone in its long, slow crawl back from the financial disaster brought on by California's energy crisis. The quarterly payout of 20 cents a share Jan. 31 will be the first common stock dividend footed by Edison since October 2000, when the payout was 28 cents. "This really is the culmination of what has been a long road," Edison International Chief Executive John E.
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