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Sep. 11, 2014, 10:43 AM
- Taminco (TAM +11.8%) says it has agreed to be acquired by Eastman Chemical (EMN +0.1%) for $26/share.
- The merger agreement includes a 30-day go-shop period, when TAM will solicit and evaluate any alternative proposals.
- EMN says the acquisition strengthens its presence in attractive niche markets such as food, feed and agriculture, and adds a world-class technology platform in alkylamines to its portfolio.
- EMN expects the deal to be accretive to 2015 EPS by greater than $0.35, excluding acquisition-related costs and charges, and to 2016 EPS by greater than $0.60.
Jan. 27, 2014, 6:07 PM
- In addition to missing FQ2 estimates, Seagate (STX) has guided on its CC for FQ3 revenue of "at least" $3.4B; that compares unfavorably with a consensus of $3.46B.
- Seagate estimates the total addressable market (TAM) for hard drives stood at 142M (same as Western Digital) in the December quarter, up by 2M Q/Q and 6M Y/Y. The company estimates its share was 40%, flat Q/Q but down from 43% a year ago.
- FQ2 gross margin was 28%, flat Q/Q and up 100 bps Y/Y. $1.5B was spent on buybacks, thanks to the Samsung deal.
- Enterprise shipments (higher-margin) +7% to 7.8M, desktops -12% to 19.2M, notebooks -2% to 16.9M, consumer electronics +20% to 6.7M, branded drives (also higher-margin) +3% to 6.2M.
- Western Digital (WDC) is ticking lower in sympathy with Seagate. The shoe was on the other foot last week.
- Seagate's earnings slides
Dec. 12, 2013, 9:11 AM
Oct. 18, 2013, 9:15 AM
Taminco Corp is a pure play producer of alkylamines and alkylamine derivatives. Its products are applied in the manufacturing of everyday products primarily for the agriculture, water treatment, and oil & gas end-markets, among others.
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