Shares of Hutchinson Technology Incorporated (NASDAQ:HTCH) ended Thursday session in green amid volatile trading. The shares closed up +248 points or 166.44% at $3.97 with 14.55 million shares getting traded. Post opening the session at $3.97, the shares hit an intraday low of $3.96 and an intraday high of $3.98 and the price vacillated in this range throughout the day. The company has a market cap of $140.32 million and the numbers of outstanding shares have been calculated to be 33.92 million shares.
Hutchinson Technology Incorporated (HTCH) on Sept. 22, 2016 announced that the U.S. Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), with respect to the proposed merger of HTI with and into a wholly owned subsidiary of TDK Corporation (“TDK”). The early termination of the waiting period under the HSR Act satisfies one of the remaining conditions to the closing of the pending merger.
As of August 21, 2016 (the “measurement date”), HTI’s level of cash (subject to certain adjustments) less any outstanding borrowings on its revolving line of credit (the “net cash”), as further defined in the merger agreement with affiliates of TDK, was approximately $47.1 million. Based on HTI’s net cash position as of the measurement date, TDK would acquire all of the outstanding shares of common stock of HTI for total consideration of $4.00 per share.
The merger is currently expected to close no later than October 5, 2016, and remains subject to other customary closing conditions set forth in the merger agreement.
Shares of Nokia Corp (ADR) (NYSE:NOK) ended Thursday session in green amid volatile trading. The shares closed up +0.16 points or 2.87% at $5.74 with 14.05 million shares getting traded. Post opening the session at $5.74, the shares hit an intraday low of $5.71 and an intraday high of $5.75 and the price vacillated in this range throughout the day. The company has a market cap of $33.57 billion and the numbers of outstanding shares have been calculated to be 5.77 billion shares.
On Sept. 22, 2016 Nokia is to launch an NPO Transformation service, leveraging its global planning and optimization expertise, innovative software tools and proven methodologies to provide operators with greater agility to meet customer demand and tap into new business opportunities.
As operators take advantage of the opportunities offered by 4.5G and 4.5G Pro on the path towards 5G, they are tasked with simplifying the network operations of multiple legacy radio technologies. The Nokia NPO Transformation service will help them do this, reducing the time spent on network planning and optimization by up to 40 percent and freeing resources to focus on proactive customer-centric tasks.
The service includes an operational assessment which uses value stream mapping and a task model, developed from Nokia’s extensive experience in conducting transformation projects with multiple operators. The assessment provides operators with a clear view of their current performance, measuring variables such as productivity, capital expenditure, and the level of customer satisfaction. Armed with this data, Nokia can then work with an operator to define its goals in these areas and put in place a detailed transformation plan focused on roles, processes and tools.
With access to a plethora of automated technologies and analytics, Nokia can also provide operators with an in-depth view of network conditions over time, allowing them to move away from reactive, labor-intensive network operations to a more predictive approach. With tools such as the recently launched, cloud-based AVA platform, Nokia can enhance knowledge of the customer experience, allowing operators to make the most of existing infrastructure and to prioritize future investments more efficiently.