latest news releases from the newsroom
Claymont Steel Holdings, Inc.
Evraz to Acquire Claymont Steel for US$564.8 Million
LUXEMBOURG and CLAYMONT, Del., Dec. 10, 2007 (PRIME NEWSWIRE) -- Evraz Group S.A. (LSE:EVR) (Evraz) and Titan Acquisition Sub, Inc., a wholly owned subsidiary of Evraz (Titan), today announced that they have entered into a definitive agreement with Claymont Steel Holdings, Inc. (Nasdaq:PLTE) (Claymont Steel) under which Evraz will acquire Claymont Steel for US$23.50 per share, for an aggregate price of approximately US$564.8 million (including debt and net of cash). The offer price of US$23.50 per share represents a premium of 19.1% to Claymont Steel's three month volume weighted average stock price, a premium of 38.2% to Claymont Steel's initial public offering price of US$17.00 in December 2006, and a premium of 6.8% to the closing price of Claymont Steel's stock on Friday, December 7, 2007, of US$22.00.
International Liquor and Wine Distribution Business Modernizes With NetManage's OnWeb
MADRID, Spain, Dec. 10, 2007 (PRIME NEWSWIRE) -- NetManage, Inc. (Nasdaq:NETM), a software company that provides the fastest way to transform legacy applications into new Web-based business solutions, today announced that the Diego Zamora Group, an established global beverage distribution company, has chosen NetManage's OnWeb(r) to simplify and modernize the company's commercial liquor and wine distribution system for its international product line. Diego Zamora will use OnWeb to transform its commercial application area and continue to modernize ERP (AS/400) applications for its purchase, finance and production systems, as well as create mobile applications for the company's commercial force.
Edge Petroleum Corporation
Edge Petroleum Corporation Announces New Borrowing Base With Strong Financial Condition and Interim Summary of Operations
HOUSTON, Dec. 10, 2007 (PRIME NEWSWIRE) -- Edge Petroleum Corporation (Nasdaq:EPEX) (Nasdaq:EPEXP), in an effort to provide timely information to enable analysts and investors to stay better informed about factors impacting our business, is releasing selected financial and operating information. Edge reported today that its bank group recently completed the semi-annual re-determination of the allowable borrowing base under its revolving credit facility which matures in 2011. A new borrowing base of $300 million was established. Currently, Edge has $255 million outstanding under its revolver, leaving $45 million of unused capacity. Our debt to capital ratio at September 30, 2007 was a moderate 35.3%.