On Friday, Shares of United Therapeutics Corporation (NASDAQ:UTHR), gained 0.91% to $128.60.
United Therapeutics Corporation, declared that its Board of Directors authorized the repurchase of up to an additional $500 million of the companys common stock. This program will become effective on January 1, 2016, and will remain open for up to one year. Purchases may be made in the open market or in privately negotiated transactions from time to time as determined by United Therapeutics administration and in accordance with the requirements of the U.S. Securities and Exchange Commission.
We are happy to continue our track record of returning value to our shareholders via substantial stock repurchases, remarked Martine Rothblatt, Ph.D., United Therapeutics Chairman and Co-Chief Executive Officer.
United Therapeutics Corporation, a biotechnology company, develops and commercializes products to address the unmet medical needs of patients with chronic and life-threatening conditions worldwide. Its lead product comprises Remodulin, an injection used for the treatment of pulmonary arterial hypertension (PAH).
Shares of Clean Energy Fuels Corp (NASDAQ:CLNE), inclined 5.23% to $5.83, during its last trading session.
NG Advantage LLC, a majority-owned partner of Clean Energy Fuels Corp. (CLNE), declared that it has signed an eighteen month contract extension with International Paper. Under this extension, NG Advantage will continue delivering clean-burning compressed natural gas (CNG) to International Paper’s Ticonderoga, NY paper mill using its virtual or mobile pipeline of tractor-trailers that deliver 24/7. This is the largest mobile pipeline project in the U.S. and showcases the scalability of NG Advantage’s service to deliver natural gas as an alternative fuel choice for even the largest industrial energy users.
“It’s a pleasure to work with the very innovative people at International Paper and assist them meet their environmental and financial aims in a rapidly changing world,” said NG Advantage CEO Tom Evslin. “The service to the IP mill demonstrates that our trucked CNG platform has successfully been scaled to meet demand which would have formerly required a special pipeline extension.”
International Paper had long been planning a switch to natural gas to displace much of the #6 fuel oil used at the Ticonderoga mill in order to substantially reduce its environmental footprint and enjoy the price stability of the domestic fuel. The mill had originally planned to pay much of the cost of a traditional pipeline extension from Vermont to Ticonderoga, NY, and sought bids for trucked CNG only for interim service until the pipeline arrived. NG Advantage, which was the first company to provide virtual pipeline service in the U.S., received the contact for that interim service in 2014.
Clean Energy Fuels Corp. provides natural gas as an alternative fuel for vehicle fleets in the United States and Canada. It designs, builds, operates, and maintains fueling stations; and supplies compressed natural gas (CNG) fuel for light, medium, and heavy-duty vehicles, in addition to liquefied natural gas (LNG) fuel for medium and heavy-duty vehicles.
Finally, Shares of NorthStar Asset Administration Group Inc (NYSE:NSAM), ended its last trade with 0.13% gain, and closed at $14.84.
NorthStar Asset Administration Group, declared it has reached a definitive agreement to acquire an about 85% interest in The Townsend Group (Townsend), a leading global provider of investment administration and advisory services focused on real assets. Founded in 1983, Townsend is the manager or advisor to about $180 billion of assets, designing customized strategies and building distinctive portfolios for its world-class institutional investor base.
Following the closing of the transaction, Townsends administration team will own the remainder of the business and will continue to direct day-to-day operations. Subject to the terms and conditions of the purchase and sale agreement, NSAM will acquire the interest in Townsend for about $380 million, predominately from funds associated with private equity firm GTCR LLC. NSAM has obtained a commitment for $500 million of financing which will be used to fund the transaction and for general corporate purposes, counting repurchases of its common stock. The transaction is predictable to close in early 2016.
David Hamamoto, Executive Chairman of NSAM, commented, We are extremely happy with this planned opportunity to expand and accelerate our asset administration capabilities, both in the United States and internationally, with the acquisition of one of the worlds premier institutional real estate asset administration platforms. Townsend, which sits at the epicenter of the global real estate market, having note worthy influence over $170 billion of real estate, has a brand and franchise that is second to none.
Northstar Asset Administration Group Inc. provides asset administration and other services in the United States and internationally. It also offers securitization transaction services.
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