Dollar Thrifty Automotive Group Inc. (NYSE: DTG) and Hertz Global Holdings, Inc. (NYSE: HTZ) today jointly announced an agreement to amend their merger agreement to provide for Hertz to acquire Dollar Thrifty for an increased purchase price of $50.00 per share, valued at the Friday, September 10, 2010 closing price of Hertz stock of $10.05, consisting of $43.60 in cash (including approximately $6.87 per share to be paid by Dollar Thrifty as a special cash dividend immediately prior to the transaction closing) and 0.6366 of a share of Hertz common stock. The revised price represents an increase of $10.80 per share in the cash consideration to be paid to Dollar Thrifty shareholders. The other key provisions of the original merger agreement are unchanged, including a $44.6 million reverse termination fee payable to Dollar Thrifty if required antitrust clearance is not obtained. As an additional step to facilitate the prompt closing of the transaction, Hertz announced it has begun the process of divesting Advantage Rent-a-Car. Shares of DTG soared as much as 6% in pre-market trading.
Shares of Ascent Solar Technologies, Inc. (NASDAQ: ASTI), surged more than 9% after it announced today that Radiant Holding Limited will begin distribution of Ascent Solar's lightweight, flexible, high-power thin-film CIGS modules for building integrated (BIPV), automotive and portable power solutions in China. The agreement with Radiant gives Ascent Solar access to multiple market segments in China's emerging solar market including direct integration into Radiant's line of building materials for residential and commercial solutions. Radiant plans to install Ascent modules on its metal roofing demonstration site immediately in order to demonstrate the unique characteristics of Ascent Solar's flexible, lightweight CIGS modules to its customers.
Shares of Vical Incorporated (NASDAQ: VICL) jumped more than 5% after it announced today the achievement of key efficacy, immunogenicity and safety results in a Phase 2 trial, establishing its TransVax(TM) cytomegalovirus (CMV) vaccine as the first to provide evidence of protection in immunocompromised hematopoietic cell transplant (HCT) recipients, and defining a potential pathway for further development. "The TransVax(TM) vaccine has demonstrated the ability to drive effective immune responses in the inherently difficult therapeutic setting of immunocompromised patients," said CMV and organ transplant expert Mark D. Pescovitz, M.D. "In addition to providing evidence of protective efficacy in HCT recipients, the TransVax(TM) Phase 2 results have identified clinically relevant endpoints that may be appropriate for further development."
Full Disclosure: None.
Shares of Ascent Solar Technologies, Inc. (NASDAQ: ASTI), surged more than 9% after it announced today that Radiant Holding Limited will begin distribution of Ascent Solar's lightweight, flexible, high-power thin-film CIGS modules for building integrated (BIPV), automotive and portable power solutions in China. The agreement with Radiant gives Ascent Solar access to multiple market segments in China's emerging solar market including direct integration into Radiant's line of building materials for residential and commercial solutions. Radiant plans to install Ascent modules on its metal roofing demonstration site immediately in order to demonstrate the unique characteristics of Ascent Solar's flexible, lightweight CIGS modules to its customers.
Shares of Vical Incorporated (NASDAQ: VICL) jumped more than 5% after it announced today the achievement of key efficacy, immunogenicity and safety results in a Phase 2 trial, establishing its TransVax(TM) cytomegalovirus (CMV) vaccine as the first to provide evidence of protection in immunocompromised hematopoietic cell transplant (HCT) recipients, and defining a potential pathway for further development. "The TransVax(TM) vaccine has demonstrated the ability to drive effective immune responses in the inherently difficult therapeutic setting of immunocompromised patients," said CMV and organ transplant expert Mark D. Pescovitz, M.D. "In addition to providing evidence of protective efficacy in HCT recipients, the TransVax(TM) Phase 2 results have identified clinically relevant endpoints that may be appropriate for further development."
Full Disclosure: None.
