AES Corp (NYSE:AES) (BusinessWire)
ARLINGTON, Va.–(BUSINESS WIRE)–The AES Corporation (NYSE:AES) announced today that Mr. Jeffrey Ubben, Founder and Chief Executive Officer of ValueAct Capital, has been appointed to AES’ Board of Directors, effective immediately. This appointment is a continuation of the Company’s efforts to create shareholder value. “We are delighted to welcome Jeff to AES’ Board. Jeff’s exceptional investment management track record and extensive public market experience will further enhance our expertise and strength,” said Charles Rossotti, AES Chairman. “We remain committed to enhancing shareholder returns and we believe that Jeff will make a significant contribution to that end in an increasingly dynamic global energy market that is demanding innovative solutions.”
Wyndham Worldwide Corporation (NYSE:WYN) (The Motley Fool)
Wyndham Worldwide Corp. WYN, +5.39% said Thursday it will pay $1.95 billion in cash to buy La Quinta Holdings Inc.’s LQ, +3.32% hotel franchise and management businesses. Under terms of the deal, La Quinta shareholders will receive $8.40 a share in cash, a total of about $1 billion, Wyndham will repay about $715 million in La Quinta debt and Wyndham will set aside $240 million in reserves for estimated taxes in connection with the spinoff of La Quinta’s owned real estate assets.
CBS Corporation (NYSE:CBS) (Bloomberg)
Leslie Moonves defied the odds a year ago by resisting the Redstone family’s plan to combine CBS Corp. with Viacom Inc., but now a rising tide of media consolidation is forcing the 68-year-old executive to reassess his options. Shari Redstone, vice chairman of CBS, is pushing for Moonves, CEO of the broadcaster, to once again consider a merger with Viacom to combine the two companies her family controls. Moonves is open to exploring a Viacom deal, according to people familiar with the matter, but he has also talked to a range of potential suitors to identify alternatives. CBS shares surged to a four-month high on Bloomberg’s report.
Spi Energy Co Ltd (ADR) (NASDAQ:SPI) (Benzinga)
Spi Energy Co Ltd (ADR) (NASDAQ:SPI) rose 58.6 percent to $1.380 in pre-market trading after the company disclosed a strategic partnership with Hoofoo Inc., the hack-proof cryptocurrency hardware wallet.