Catch up on the weekend’s top five stories with this list compiled by The Fly: 1. Teladoc Health (TDOC) announced it has entered into a definitive agreement to acquire InTouch Health. The transaction is expected to close by the end of the second quarter, subject to customary closing conditions.
Under the terms of the agreement, the purchase price of $600M will consist of approximately $150M in cash and $450M of Teladoc Health common stock. Meanwhile, Woodward (WWD) and Hexcel (HXL) have announced a definitive agreement to combine in an all-stock merger of equals.
Under the terms of the agreement approved by the Boards of Directors of both companies, Hexcel shareholders will receive a fixed exchange ratio of 0.625 shares of Woodward common stock for each share of Hexcel common stock, and Woodward shareholders will continue to own the same number of shares of common stock in the combined company as they do immediately prior to the closing. Upon completion of the merger, existing Woodward shareholders will own approximately 55% and existing Hexcel shareholders will own approximately 45% of the combined company on a fully diluted basis.
In connection with the transaction, Woodward is increasing its quarterly cash dividend to 28c a share. 2. Seattle is expected to approve on Monday legislation banning political contributions by companies with at least 5% foreign ownership, Reuters’ Gregory Scruggs wrote.
The bill is widely viewed as aimed at reining in political spending from companies like Amazon (AMZN), the author noted, adding that the e-commerce giant has donated a record $1.5M to back a slate of pro-business candidates in the November council elections. 3 Apple (APPL) was a blessing to investors in 2019, soaring 86% last year and adding $579B in new market value, but now it has become a trillion-dollar headache, Tae Kim wrote in this week’s edition of Barron’s.
Investors can take profits on their Apple 2019 gains and still have a significant holding in the stock, all while hedging against the risks of pricey Apple shares, the author contended.
For Apple investors that want exposure to faster-growing tech names, TSMC (TSM) is a good bet, Kim noted, while for investors looking for higher return potential-admittedly with higher risk-Barron’s recently highlighted shares of Datadog (DDOG).
4. Comcast (CMCSA) subsidiary Universal’s WWI movie “1917” won this weekend’s domestic box office with $36.5M, in one of the best nationwide debuts ever for the month of January. Overseas, the film earned $19.9M from its first 30 markets for an early foreign cume of $21.1M and $60.4M globally. “1917” sports an A- CinemaScore and a 90% Rotten Tomatoes rating.
5. Bank of America (BAC) and Wingstop (WING) saw positive mentions in this week’s edition of Barron’s.