Mid Day Recap: Media General Inc(NYSE:MEG), Ballard Power Systems Inc. (NASDAQ:BLDP), Arch Coal Inc. (NYSE:ACI)
Lakeway, NY — (MARKET NEWS CALL) — 09/28/2015— Specialpennystockalert.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market about the small and penny stocks, issues news alert on Media General Inc(NYSE:MEG), Ballard Power Systems Inc. (NASDAQ:BLDP), Arch Coal Inc. (NYSE:ACI).
Media General Inc(NYSE:MEG)’s shares climbed 19.73% to $13.35. The company on Sept. 28 confirmed that it has received an unsolicited proposal from Nexstar Broadcasting Group, Inc. (Nasdaq: NXST) to acquire all of the outstanding common stock of Media General for $14.50 per share in cash and stock, including $10.50 per share in cash and a fixed ratio of 0.0898 Nexstar shares per Media General share. Consistent with its fiduciary duties, the Media General Board of Directors, in consultation with its legal and financial advisors, will carefully review and consider the proposal to determine the course of action that it believes is in the best interests of the Company and its shareholders.
Ballard Power Systems Inc. (NASDAQ:BLDP)’s shares jumped 11.97% to $1.31. At a ceremony held at the Company’s global headquarters, Ballard Power Systems on Sept. 28 signed a joint development agreement and a supply agreement to develop and commercialize a fuel cell engine specifically designed for integration into low floor trams manufactured by CRRC Qingdao Sifang Company, Ltd. (CRRC Sifang), a Chinese rolling stock manufacturer. The agreements include 2016 delivery of ten (10) customized FCvelocity modules and the agreements have an initial value expected to be approximately $6 million.
Arch Coal Inc. (NYSE:ACI)’s shares gained 0.66% to $3.03. The company on Sept. 24 announced the extension of its (i) pending private offer to exchange (the “2020 Exchange Offer”) new 6.25% Trust Certificates due 2021 (the “Trust Certificates”) and a cash payment for any and all of its outstanding 7.25% Senior Notes due 2020 (the “2020 Notes”) and (ii) pending concurrent private offer to exchange (the “Concurrent Exchange Offer” and, together with the 2020 Exchange Offer, the “Exchange Offers”) Trust Certificates, 8.00% Senior Secured Notes due 2022 (the “New 2022 Secured Notes”) and 12.00% Senior Secured Second Lien Notes due 2023 (the “New 2023 Secured Notes”) for its outstanding 7.000% Senior Notes due 2019 (“Old 7.000% 2019 Notes”), 9.875% Senior Notes due 2019 (“Old 9.875% 2019 Notes”) and 7.250% Senior Notes due 2021 (“Old 7.250% 2021 Notes” and, together with the Old 7.000% 2019 Notes and the Old 9.875% 2019 Notes, the “Old Notes”).
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Tags: Arch Coal Inc. (NYSE:ACI), Ballard Power Systems Inc. (NASDAQ:BLDP), Media General Inc(NYSE:MEG)