News Highlights: Verizon Communications Inc. (NYSE:VZ), Freescale Semiconductor, Ltd. (NYSE:FSL), The Blackstone Group L.P. (NYSE:BX)

April 25, 2023 8:37 am8 commentsViews: 74

Verizon Communications Inc. (NYSE:VZ) declared that successful completion of its tender offer to buy all outstanding shares of AOL Inc for $50 per share in cash. The tender proposal expired on June 22, 2015. Verizon subsequently completed the purchases of the remaining entitled AOL shares not purchased in the tender offer through a merger. As a result, AOL shares will no longer be traded on the NYSE, and AOL is at the present a wholly owned subsidiary of Verizon. In an enlarged role, AOL CEO Tim Armstrong continues to lead AOL operations after the closing, and Bob Toohey, president of Verizon Digital Media Services, will report to Armstrong. Verizon Communications Inc. (NYSE:VZ) begun last trade with a price of $47.86 and throughout the trading session climbed at a high of $48.11. The day-trade ended with 0.50% to $47.77.

Freescale Semiconductor, Ltd. (NYSE:FSL) reported on Tuesday that it has introduced the world’s smallest single chip module or SCM for the Internet of Things. As the IoT needs more processing horsepower to be packed into smaller spaces, Freescale’s new SCM line of products can integrate hundreds of components comprising processors, memory, power management and RF parts, which would otherwise be deployed on a six-inch board, into a tiny 17mm X 14mm X 1.7mm package. Freescale Semiconductor, Ltd. (NYSE:FSL) has the market capitalization of 12.85 Billion. Shares of firm moved down -0.99% to close at $41.85 with the total traded volume of 1.01 Million. The firm has current ratio of 2.50 for the most recent quarter.

The Blackstone Group L.P. (NYSE:BX) decided to purchase a shopping mall and garage in the Flushing neighborhood of New York City’s Queens borough for around $400M, according to report quoting people familiar with the matter. The properties are division of the Sky View Parc mixed-use complex, which is located near New York’s third-busiest subway station. The seller was Onex Corp. (OCX.TO), Canada’s largest private equity company. The Blackstone Group L.P. (NYSE:BX) stock price closed at $42.14 with the total traded volume of 2.65 Million shares. Its price to sales ratio ended at 5.90. Its market capitalization is 25.60 Billion. The stock owned by the Financial Institutions was 60.90% while by insiders was 0.40%.

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