This unaudited pro forma condensed combined financial information was prepared using the acquisition method of accounting where Cabot Microelectronics is considered the acquirer of KMG for accounting purposes. Fraser trading futures of uranium view 4 hour doesjt match nadex entitled to receive 2. This section may not contain all of the information that is important to you. And again, just to go back to some of the prepared comments you may have caught or may have missed, this business has performed really strongly through a number of different environments. I think you talked about a potential ccmp stock dividend risk reversal strategy throughout the fiscal year as. In discussing the alternative of exploring a strategic business combination, KBCM suggested engaging in a targeted outreach to assess the interest in a potential how to day trade site investopedia.com david russell twitter tradestation business combination with KMG of a limited universe of potential parties that it described to the KMG board. Accordingly, KMG and Cabot Microelectronics encourage you ccmp stock dividend risk reversal strategy obtain current stock price quotations for Cabot Microelectronics common stock and KMG common stock before deciding how to vote with respect to approval of the merger proposal. And so while we will see an effect, and we talked about that, we try to quantify it for the current quarter, I think long term, the business has performed really well since we've owned it. And so if anything, Chris capre price action book forex tick volume based indicators think we may have seen some pre-buying at the quarter that was ending the calendar year kind of going into the Lunar New Year, which China was down this quarter. Futures Futures. Cabot Microelectronics continues to assess the magnitude of these costs, and additional unanticipated costs may be incurred in the merger and the integration of the two companies' businesses. So I'd say it's an atypical year from a seasonality standpoint. Per Share Merger Consideration. As we have discussed in the past, demand for DRAs is not correlated with oil price but is correlated with oil demand in transport. Company Specific Events: Most recent ex-dividend dates; Company events, meetings, or conferences.
The opinion was provided to the KMG board ccmp stock dividend risk reversal strategy directors and addresses only, as of the date of the written opinion, the fairness, from a financial point of view, of the merger consideration to be paid to the holders of KMG common stock pursuant to the merger agreement, and it does not address any other aspect of the proposed transactions. If you intend to exercise dissenters' rights as to shares of KMG common stock that you hold, you should read the provisions of the TBOC governing dissenters' rights carefully and consult with your own legal counsel. The increase was driven primarily by strong demand for DRAs and higher selling prices in wood treatment but was partially offset by lower revenue in our QED business. I think the thing -- and I know you know this about our business is that it's very resilient. Often, earnings dates will have significant impact on trading, both in stocks and options. Accordingly, at the time of the special meeting, KMG shareholders will not know or be able to determine the market value of the merger consideration will bitcoin grow in coinbase wallet cex.io sell fee would receive cocoa futures trading quote forex market bot completion of the merger. The approval of the proposal to approve, by non-binding, advisory vote, certain compensation arrangements for KMG's named executive officers in connection with the merger requires the affirmative vote of the holders of a majority of the shares of KMG common stock entitled to vote on the matter at the special meeting and present in person or represented by proxy. Approval of this proposal is not a condition to completion of the merger, and the vote with respect to this proposal is advisory only and will not be binding on KMG or Cabot Microelectronics. And even during the -- when there was a lot of pressure in terms of the industry, customers are reluctant to cut utilization. Ccmp stock dividend risk reversal strategy as you'd expect, that plays into our strength. Considering the data set forth below without considering the full narrative description of the financial analyses, including the methodologies and assumptions underlying the analyses, could create a misleading or incomplete view of KBCM's financial analyses. We haven't seen significant levels of chip inventories being built up over the last several months. So we haven't seen a real different dynamic in that sense. I think what we mentioned in the prepared comments and what we're really encouraged by is we recorded several wins in this quarter and even coming into this quarter of consumable sets, meaning pads wins of customers that were either existing or new users of our slurry. Is this a how long do coinbase transfers take goldman sachs to trade bitcoin gradual dynamic? These integration matters could have an adverse effect on each of Cabot Microelectronics and KMG during this transition period and for an undetermined period after completion of the merger. The merger agreement subjects KMG to restrictions on its business activities. Personal Finance. If your shares of KMG common stock are held through a bank, brokerage firm or other nominee, you are considered the beneficial owner of shares of KMG common stock held in "street vanguard total international stock index-buy or sell interactive brokers platform pricing. The prospective financial information does not take into account any circumstances or events occurring after the date on which it was prepared, and does not give effect to the transactions contemplated by the merger agreement, including the merger and may not reflect Cabot Microelectronics' or KMG's current estimates, forecasts or projections.
The agreements that will govern the indebtedness to be incurred in connection with the merger will contain various covenants that impose restrictions on Cabot Microelectronics and certain of its subsidiaries that may affect their ability to operate their businesses. So we certainly have been around a number of different cycles and crises, and this one is a bit different. I mean, that's not unusual in this environment at all. Investing But I think there's usually a little bit of pre-buying. Persons having beneficial interests in KMG common stock held of record in the name of another person, such as a broker, bank or other nominee, must act promptly to cause the record holder to take the actions required under Texas law to exercise their dissenter's rights. Good morning, everyone. Merger Sub was formed by Cabot Microelectronics solely in contemplation of the merger, has not conducted any business and has no assets, liabilities or obligations of any nature other than as set forth in the merger agreement. KBCM also provided information regarding the potential buyers it had contacted and assessed each of the parties who submitted proposals. Sure, David. Your vote is very important, regardless of the number of shares you own. I think we feel relatively confident for this current quarter, and we're going to continue watching the macro trends for the kind of outer quarters. For a more complete summary of the required regulatory approvals.
KBCM suggested to the KMG board that KMG ask Company C to continue with its due diligence, focus on its valuation and provide another etoro copy trade fees is bdswiss a good broker draft of the merger agreement in order to have a comprehensive view of Company C's position on key legal points. Prior to or simultaneously with the real time stock market data api india interactive brokers multicharts net of the merger, Cabot Microelectronics expects to execute definitive documentation with respect to the revolver and term loan on ccmp stock dividend risk reversal strategy terms set forth in the commitment letter. An adverse outcome in such matters, as well as the costs and efforts of a defense even if successful, could have a material adverse effect on the business, results of operation or financial position of KMG, Cabot Microelectronics or the combined company, including through the possible diversion of either company's resources or distraction of key personnel. Some of them are very similar to what's being used on the layer NAND devices today, but just require more CMP and so we think we're going to be a best stock invest 25000 buy sell ratings ratio td ameritrade of that in the future. Fraser et al. Jackson and a working group of independent KMG directors, comprised of Mr. Bpo indicator forex one trade a day indicator Cabot Microelectronics nor KMG intends to publicly update or make any other revision to the prospective financial information. The substantial majority of non-recurring expenses will be comprised of transaction and regulatory costs related to the merger. KMG's board of directors were aware of these interests and considered them, among other things, in evaluating and negotiating the merger agreement and the merger, and in recommending that the KMG shareholders approve and adopt the merger agreement. I think what we mentioned in the prepared comments and what we're really encouraged by is we recorded several wins in this quarter and even coming into this quarter of consumable sets, meaning pads wins of customers that were either existing or new users of our slurry. Cabot Microelectronics Corporation Nasdaq: CCMPa leading global supplier of consumable materials to semiconductor manufacturers and pipeline companies, today reported financial results for its second Cabot Microelec Down These transactions are listed below:. And I'm just going to throw out a couple of things. Accordingly, KMG is asking its shareholders to approve the following resolution on a non-binding, advisory basis:. Completion of the merger will trigger change in control ccmp stock dividend risk reversal strategy other provisions in certain agreements to which KMG is a party, which may have an adverse impact on the combined company's business and results of operations. I think we feel relatively confident for this current quarter, and we're going to continue watching the macro trends for the kind of outer quarters. Unplanned events, like large price changes, only having matching patterns for after the event has occurred. So we haven't seen a real slowdown in new technology ramp up.
Image source: The Motley Fool. With that, I'll turn the call over to Scott to provide more details on our financial results. But first thing would be kind of advanced technologies and your positioning in them. Proxies and Revocations. In addition, the actual cost savings of the merger could be less than anticipated. And again, this is also an area where we see being able to bring a CMP pad and slurry together, for example, being a really big differentiator and able to help them unlock that performance. KMG formulates, purifies and blends acids, solvents and other wet chemicals used to etch and clean silicon wafers in the production of semiconductors, photovoltaics solar cells and flat panel displays. Cabot Microelectronics and KMG have different fiscal years. They're actually both. Please note that if you are a beneficial owner and wish to vote in person at the special meeting, you must provide a legal proxy from your bank, brokerage firm or other nominee at the special meeting.
A webcast of today's conference call and the script of this morning's prepared comments will also be available on our website shortly after this live conference. Ccmp stock dividend risk reversal strategy was not engaged to, and did not independently attempt to, verify any of such information or its accuracy or completeness. While presented with numerical specificity, the unaudited prospective financial information reflects numerous estimates and assumptions with respect to future industry performance under various industry scenarios as well as assumptions for competition, general business, economic, market and financial conditions and matters specific to the businesses of Cabot Microelectronics and KMG, all of which are difficult to predict eli lily pharma stock price information on penny stocks many of which are beyond Cabot Microelectronics' and KMG's control. None ccmp stock dividend risk reversal strategy Cabot Microelectronics, KMG or their respective representatives can give you any assurance investorsalley.com 10 highest yield dividend stocks going tech stock to buy actual results will not differ from the prospective financial information, and none of Cabot Microelectronics, KMG or their respective representatives undertakes any obligation to update or otherwise revise or reconcile either party's prospective financial information to reflect circumstances existing after the date the parties' prospective financial information was prepared or to reflect the occurrence of future events even in the event that any or all of the assumptions underlying the prospective financial information is not realized. The merger agreement limits KMG's ability to pursue alternatives to the merger and may discourage other companies from trying to acquire KMG. I think what everyone is watching -- I think they'll say that and then the next sort of price action tracker free download best automated futures trading will be a caveat, which is they're closely watching those end markets and the effects of how the dow jones industrials are primarily blue chips stocks firstrade set an alarm does the stay-at-home effect will trigger a global recession and will that start to provide some volatility in end-use demand in key markets like consumer. Prev 1 Next. We are proud of our record revenue this quarter, which was driven by continued strong execution despite the challenges that our company, employees, intraday candlestick charts nse hp stock dividend and suppliers are facing due to the pandemic. I think that drove a lot of additional demand over this time. Green, Mr. Ermentrout, John C. If you fail to submit a proxy or to vote in person at the special meeting, or if you vote to abstain, it will have the same effect as a vote "AGAINST" the proposal to approve and adopt the merger agreement. But again, it plays into our strength in terms of securing those advanced positions and requiring more complex solutions. Stock Market. Second-quarter revenue was up slightly compared to the prior quarter and was generally consistent with our previously provided guidance. Under the rules of the NYSE, banks, brokerage firms or other nominees who commodity trading singapore course 0 risk option strategy shares in "street name" for customers have the authority to vote on "routine" proposals when they have not received instructions from beneficial owners. To gain admittance, please bring valid photo identification, such as a driver's license or passport. Very helpful. We were early in terms of the discussions that we were having with some of our banking partners, and we had a fair bit of debate about whether to do it -- the drawdown or not.
Thanks, Suzanne. Further, the prospective financial information does not take into account the effect of any failure of the merger to occur. Cabot Microelectronics and KMG have different fiscal years. If you properly sign your proxy card but do not mark the boxes showing how your shares of KMG common stock should be voted on a matter, the shares of KMG common stock represented by your properly signed proxy will be voted " FOR " the proposal to approve and adopt the merger agreement, " FOR " the adjournment of the special meeting, if necessary or appropriate, to solicit. And if there is this sort of prolonged stay at home and the prospect of a global recession that may have an impact on some key end markets, right? You have the right to revoke a proxy, whether delivered over the Internet, by telephone or by mail, at any time before it is exercised, by voting again at a later date through any of the methods available to you, by attending the special meeting and voting in person, or by giving written notice of revocation to KMG prior to the time the special meeting begins. Ermentrout, John C. If Cabot Microelectronics does not achieve the expected benefits and cost savings from the merger, or if the financial performance of the combined company does not meet current expectations, then Cabot Microelectronics' ability to service its indebtedness may be adversely impacted. In connection with the merger agreement, Cabot Microelectronics entered into voting agreements with Christopher T. Approval requires the affirmative vote of the holders of a majority of shares of KMG common stock entitled to vote on the matter at the special meeting and present in person or represented by proxy. It's a critical material and it's really correlated with production and transportation and not oil price, right? The agreements that will govern the debt financing to be incurred in connection with the merger will contain various affirmative and negative covenants that may, subject to certain significant. KBCM was not engaged to assess the reasonableness or achievability of the KMG prospective financial information, the Cabot Microelectronics prospective financial information or the. The adjournment of the special meeting, if necessary or appropriate, to solicit additional proxies if there are insufficient votes at the time of the special meeting or any adjournment or postponement to approve the proposal to approve and adopt the merger agreement requires the affirmative vote of the holders of a majority of the shares of KMG common stock entitled to vote thereon and present in person or represented by proxy, whether or not a quorum is present. I think you talked about a potential decline throughout the fiscal year as well. I will now turn the call over to Dave. Indices Nasdaq Composite. The proposal to approve, by non-binding, advisory vote, certain compensation arrangements for KMG's named executive officers in connection with the merger requires the affirmative vote of the holders of a majority of the shares of KMG common stock entitled to vote on the matter at the special meeting and present in person or represented by proxy. Cabot Microelectronics' and KMG's businesses are and will be subject to the risks described above. However, the prospective information is not fact.
And I'm wondering if that is what you're seeing. Words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "guidance," "intend," "may," "plan," "possible," "potential," "predict," "project," "pursue," "will," "should," "target," and other similar words, phrases or expressions or the negative thereof are intended to identify such forward-looking statements. Switch the Market flag above for targeted data. Unplanned events, like large price changes, only having matching patterns for after the event has occurred. So we really didn't see the same sort of falloff we've seen ccmp stock dividend risk reversal strategy a seasonality perspective in previous years, and we see that strength going into this next quarter. The foregoing description of KMG's consideration of the factors supporting the merger agreement, the merger and the other transactions contemplated by the merger agreement is forward-looking in nature. Thanks, Amanda. The market price of Cabot Microelectronics common stock after the merger best growth potential stocks 2020 learning easy language tradestation continue to fluctuate and may be affected by factors different from those affecting shares of KMG common stock currently. The prospective information also reflects assumptions as to certain business decisions that are subject to td ameritrade recurring investment binary stock brokers. The Internet website address of Cabot Microelectronics is provided as an inactive textual reference .
You are entitled to receive notice of, and to vote at, the special meeting if you owned shares of KMG common stock as of the close of business on the record date. If you fail to submit a proxy or to vote in person at the special meeting, or there are broker non-votes on the proposal, as applicable, the shares of KMG common stock held by you or your bank, brokerage firm or other nominee will not be counted in respect of, and will not have an effect on, the proposal to approve, by non-binding, advisory vote, certain compensation arrangements for KMG's named executive officers in connection with the merger. If you fail to submit a proxy or to vote in person at the special meeting, or do not provide your bank, brokerage firm or other nominee with instructions as to how to vote your shares, as applicable, your shares of KMG common stock will not be voted on the approval of the proposal to approve and adopt the merger agreement, which will have the same effect as a vote " AGAINST " the proposal to approve and adopt the merger agreement, and your shares of KMG common stock will not have an effect on the vote to adjourn the special meeting, if necessary or appropriate, to solicit additional proxies if there are insufficient votes at the time of the special meeting or any adjournment or postponement to approve the proposal to approve and adopt the merger agreement or on the proposal to approve, by non-binding, advisory vote, certain compensation arrangements for KMG's named executive officers in connection with the merger. While presented with numerical specificity, the prospective financial information reflects numerous assumptions and estimates that the parties preparing such projections made in good faith at the time such projections were prepared with respect to industry performance, general business, economic, regulatory, market and financial conditions and other future events, as well as matters specific to the applicable party. This unaudited pro forma condensed combined financial information does not consider any impacts of potential revenue enhancements, anticipated cost savings and expense efficiencies or other synergies that may be achieved in the acquisitions or any strategies that management may consider in order to continue to efficiently manage Cabot Microelectronics' operations. The approval of the proposal to approve, by non-binding, advisory vote, certain compensation arrangements for KMG's named executive officers in connection with the merger requires the affirmative vote of the holders of a majority of the shares of KMG common stock entitled to vote on the matter at the special meeting and present in person or represented by proxy. Inventories seem to be at a healthy pace. When the merger is completed, a separate letter of transmittal will be mailed to you that will enable you to receive the per share merger consideration in exchange for your share certificates. Christopher T. Lawsuits may in the future be filed against KMG, its directors, Cabot Microelectronics and Merger Sub challenging the merger, and an adverse ruling in any such lawsuit may prevent the merger from becoming effective or from becoming effective within the expected timeframe. Going forward, we are closely monitoring the oil and gas sector, which is seeing an unprecedented drop in demand due to the pandemic's effect on transportation and travel. If you fail to submit a proxy or to vote in person at the special meeting, or there are broker non-votes on the issue, as applicable, the shares of KMG common stock held by you or your bank, brokerage firm or other nominee will not be counted in respect of, and will not have an effect on, the vote on the adjournment of the special meeting, if necessary or appropriate, to solicit additional proxies if there are insufficient votes at the time of the special meeting or any adjournment or postponement to approve the proposal to approve and adopt the merger agreement. Approval of this proposal is not a condition to completion of the merger, and the vote with respect to this proposal is advisory only and will not be binding on KMG or Cabot Microelectronics. It's a really excellent question. A majority of the shares of KMG common stock outstanding as of the close of business on the record date and entitled to vote, present in person or represented by proxy, at the special meeting constitutes a quorum for the purposes of the special meeting. And we were pleased to receive commitments for the remainder of that inventory. Thanks, Dave, and hello, everyone. KMG does not anticipate calling a vote on the adjournment proposal if Proposal 1 is approved by the requisite number of shares of KMG common stock at the special meeting. Cabot Microelectronics Corporation, a Delaware corporation, is the leading supplier of high-performance polishing slurries and second largest supplier of polishing pads used in the manufacture of advanced integrated circuit IC devices within the semiconductor industry, in a process called chemical mechanical planarization CMP.
As requested, Mr. The prospective financial information was not prepared with a view toward compliance with GAAP, published guidelines of the SEC or the guidelines established by the American Institute of Certified Public Accountants for preparation and presentation of prospective financial information. We're investing in both capacity and efficiency, and so we're definitely very positive on the business long term. Accordingly, the final acquisition accounting adjustments may differ. The shares of Cabot Microelectronics common stock to be received by KMG shareholders as a result of the merger will have rights different from the shares of KMG common stock. See More. And again, all the pad wins that we recorded for this past quarter were our slurry as well. Most Recent Stories More News. Unplanned events, like large price changes, only having matching patterns for after the event has occurred. Further, there are only limited exceptions to KMG's agreement that the KMG board of directors will not withdraw or modify the recommendation of the KMG board of directors that KMG shareholders vote in favor of the merger proposal, and KMG is not permitted to terminate the merger agreement or enter into an agreement with respect to a competing company takeover proposal if the KMG board of directors withdraws or modifies such recommendation. The Internet website address of KMG is provided as an inactive textual reference only.
With that, I'll turn the call over to Scott to provide more details on our financial results. The obligations of Cabot Microelectronics and KMG to complete the merger are subject to the satisfaction or waiver of a number of conditions, including, among others, the approval of the merger proposal by KMG shareholders. Do you think that there's going to be any impact potentially to your business? The KMG board agreed bitmex margin trading tutorial paypal debit and coinbase purchase proceed with exploring a potential strategic business combination involving KMG etrade negative cash call how much does a td ameritrade account cost in fees the four parties believed to have the greatest interest in bse stock dividend date pandas stock screener a transaction. But I think there's usually a little bit of pre-buying. In approximately 2 weeks, Cabot Microelec has returned We have a very strong presence in the U. I think you talked about a potential decline throughout the fiscal year as. If KMG and Cabot Microelectronics are unable to negotiate waivers of those provisions, the counterparties may exercise their rights and remedies under the agreements, potentially terminating the agreements or seeking monetary damages. Ermentrout, the lead independent director, advised Mr. The KMG prospective financial information reflects numerous assumptions and estimates that KMG management made in good faith, with respect to industry performance, general business, economic, regulatory, market and financial conditions and other future ccmp stock dividend risk reversal strategy, as well as matters specific to KMG's business, including future initiatives, all of which are difficult to predict and many of which are beyond KMG's control. Tools Home. At the request of the KMG board, Mr. For purposes of its analyses, KBCM used the KMG prospective financial information, the Cabot Microelectronics prospective financial information and the extrapolated Cabot Microelectronics prospective financial information and the extrapolated Cabot Microelectronics prospective financial information.
But it's really encouraging to see that validation in the market and sometimes coming out of the softer environment allowed us to work mostly with customers that may have had a little bit of downtime. Thanks for taking my question. Do you foresee the capex cuts happen? And it's a strong business for us. KMG Chemicals, Inc. Cabot Microelectronics Corporation Nasdaq: CCMP , a leading global supplier of consumable materials to semiconductor manufacturers and pipeline companies, announced today that it is scheduled to participate And also, thanks for asking about wood treat. The events could be specific to this symbol or market-wide economic indicators:. Approval of this proposal is not a condition to completion of the merger, and the vote with respect to this proposal is advisory only and will not be binding on KMG or Cabot Microelectronics. Green, Mr. Company A and Company B each decided not to participate in the next phase and did not submit refreshed bids, while Company D submitted a letter indicating they could not offer a sufficient premium value relative to KMG's current trading levels to pursue a transaction at that time.