Athene Holding Ltd. Completes Acquisition of Aviva USA
Knight increased its holding to 11.3 percent from 8 percent and said it has held talks with several of USA Trucks largest shareholders, who indicated their support for the $9-a-share offer, according to a filing today. USA Truck spurned the bid on Sept. 26, saying it substantially undervalues the company. We continue to believe that a combination of Knight and USA Truck is better positioned to deliver value for and is in the best interest of all of Knight and USA Trucks stakeholders, and we are prepared to take the necessary steps to make this combination a reality, Knight said today. Knight made public its offer to buy the Van Buren, Arkansas-based company in a $242 million transaction on Sept. 26, sending USA Truck shares soaring 36 percent, the biggest advance since its initial public offering in 1992. The combination would help allay risk in the short-haul carriers turnaround plan and help reverse eight consecutive quarters of net losses, said Knight, which is based in Phoenix. USA Truck rose 4.3 percent to $8.96 at the close in New York . The shares have more than doubled this year. Knight was little changed at $16.52 and has increased 13 percent this year. Thursdays press release is our comment, USA Truck Chief Financial Officer Clifton Beckham said today by phone, referring to the companys Sept. 26 rebuff of the offer. Nicholas Leasure, a spokesman for Knight, declined to comment beyond the filing. This is not the first offer that USA Truck has turned down.
and Rachel Potter survive “X Factor” USA’s 4 chair challenge. The 10 remaining acts from each category will audition for their mentor. Tonight’s episode featured Kelly Rowland and the over 25’s. How does the “X Factor” 4 chair challenge work? The category mentor listens to an act and then decides whether the act is good enough to take a seat in one of 4 chairs. Those acts which are still seated after all 10 acts audition goes through to “X Factor” live programming. Now here’s the kicker. Just because an act is seated in one of the 4 chairs doesn’t mean they will stay there. Once the 4 chairs are filled, the mentor has the right to swap out acts and send one who is already seated home so that the chair can be filled with someone more deserving of a place on “X Factor” live shows. It was more like musical chairs than a 4 chair challenge for “X Factor” USA mentor Kelly Rowland. I think each act of her over 25 category had a seat at one time or another.
Completes Acquisition of Aviva USA * Reuters is not responsible for the content in this press release. Wed Oct 2, 2013 5:15pm EDT Athene Holding Ltd. Completes Acquisition of Aviva USA Athene Holding Ltd. (Athene Holding, and together with its subsidiaries, Athene) today announced it has completed the acquisition of Aviva USA Corporation and its subsidiaries, including Iowa-domiciled Aviva Life and Annuity Company, and New York-domiciled Aviva Life and Annuity Company of New York, for $1.55 billion.* Athene also announced that it has completed the sale of Aviva USAs life insurance operations to Presidential Life Insurance Company USA, a wholly owned subsidiary of Commonwealth Annuity and Life Insurance Co. and part of the Global Atlantic Financial Group. Terms of that deal were not disclosed. Following the deals close, Athene has approximately $60 billion in assets, making it one of the largest fixed annuity companies in the United States. Athene Chief Executive Officer Jim Belardi said: Our acquisition of Aviva USA is a transformative event that significantly increases the scale of Athenes fixed annuity business and we are excited about our prospects for further profitable growth. Avivas operational capabilities and talented workforce will enable Athene to solidify our position as a market-leading provider of retirement solutions to policyholders and distributors. At the same time, we will offer attractive opportunities for employees and create greater value for our shareholders. Aviva USA has been renamed Athene USA, which is the parent for Athenes U.S. operations and is now headquartered in West Des Moines, Iowa.