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CG Stocks Broker Alerts! Altria Group Inc (MO), The Coca-Cola Co (KO)

Shares of Altria Group Inc (NYSE:MO) ended Monday session in red amid volatile trading. The shares closed down -0.17 points or -0.27% at $61.75 with 5.28 million shares getting traded. Post opening the session at $62.18, the shares hit an intraday low of $61.65 and an intraday high of $62.42 and the price vacillated in this range throughout the day. The company has a market cap of $120.92 billion and the numbers of outstanding shares have been calculated to be 1.95 billion shares.

Altria Group Inc (MO) announced the consummation of and final results for its previously announced cash tender offer for any and all of its senior unsecured 9.95% Notes due 2038 (the “2038 Notes”) and any and all of its senior unsecured 10.20% Notes due 2039 (the “2039 Notes” and, together with the 2038 Notes, the “Notes”). The terms and conditions of the tender offer are described in the Offer to Purchase, dated September 13, 2016 and the related Letter of Transmittal and Notice of Guaranteed Delivery.

The tender offer for the Notes expired at 5:00 p.m., New York City time, on Monday, September 19, 2016 (the “Expiration Time”).

The total aggregate principal amount of the 2038 Notes validly tendered at or prior to the Expiration Time and not validly withdrawn and accepted for purchase was $440,588,000, which amount includes the 2038 Notes delivered in accordance with guaranteed delivery procedures and the total aggregate principal amount of the 2039 Notes validly tendered at or prior to the Expiration Time and not validly withdrawn and accepted for purchase was $492,000,000, which amount includes the 2039 Notes delivered in accordance with guaranteed delivery procedures.

Shares of The Coca-Cola Co (NYSE:KO) closed at $41.73 with 8.98 million shares getting traded. Post opening the session at $41.92, the shares hit an intraday low of $41.60 and an intraday high of $41.99 and the price vacillated in this range throughout the day. The company has a market cap of $180.19 billion and the numbers of outstanding shares have been calculated to be 4.32 billion shares.

The Coca-Cola Co (KO) announced its intention to acquire Anheuser-Busch InBev’s (ABI) stake in Coca-Cola Beverages Africa (CCBA) following the closing of the ABI combination with SABMiller.

The company has chosen to exercise its right to acquire ABI’s stake in CCBA because it intends to implement its long-term strategic plan in these markets with other partners. While the company respects ABI’s capabilities, it has a number of existing partners who are highly qualified and interested in these bottling territories.

During the next few months the company will negotiate the terms of the transaction with ABI according to the contractual parameters, which will later be followed by a regulatory approval process. The Coca-Cola Company also will continue negotiations with potential partners, and plans to refranchise CCBA as soon as practical following regulatory approval. The company’s intent is to account for the acquired stake as a discontinued operation for reporting purposes.

 

 

 

About Steve Johnson

Steve Johnson was previously writing news on part time basis with many consumer goods websites. Now Steve Johnson is writing columns with us on consumer goods. He has no match the way he presents the news on consumer goods. Customers like his news, analysis and predictions.

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