General Cable said it agreed to sell its Asia Pacific operations -- made up of businesses in Australia, China, New Zealand and Thailand -- to MM Logistics for about $205 million in cash, according to a news release Friday. The sale is expected to close in Q3 and includes an estimated $30 million in preliminary net cash.
The Commerce Department published notices in the June 29 Federal Register on the following AD/CV duty proceedings (any notices that announce changes to AD/CV duty rates, scope, affected firms, or effective dates will be detailed in another ITT article):
Charter Communications was a frequent suitor for Time Warner Cable before Comcast seemingly trumped it, making acquisition offers three separate times between July 2013 and January 2014, and being rejected each time by TWC's board as being inadequate. That's according to the background of Charter's buying Bright House Networks and TWC included in the preliminary Charter and TWC shareholder proxy vote materials filed Friday with the SEC. Starting in early 2014, Charter began separate negotiations on the acquisition of BHN that ran through the year and into spring 2015, while the Comcast/TWC acquisition was falling apart in the face of FCC concerns about the deal, the proxy materials said. After TWC and Comcast mutually agreed to terminate the deal, Charter CEO Tom Rutledge talked with TWC CEO Robert Marcus about once again looking at a sale, with the two meeting days later at NCTA's annual INTX: the Internet and Television Expo, with Rutledge presenting an offer approved by Charter's board a day earlier of roughly $172.50 per share. That day, an unidentified company also contacted TWC about a possible offer of $180 to $200 per share. That company ultimately told TWC it wouldn't be able to make a formal bid within the time frame TWC specified. The next day, Charter increased its cash-and-stock offer to roughly $195.71 per TWC share. Two days later, May 23, TWC's board unanimously approved the Charter deal.
A countervailing duty cash deposit requirement will take effect June 29 for imports of uncoated paper from China (C-570-023) and Indonesia (C-560-829), after the Commerce Department found illegal subsidization in its preliminary determinations (here) and (here).
Members of the House Commerce Trade Subcommittee pressed several officials on the virtues of vehicle-to-vehicle (V2V) crash avoidance technology and its challenges, pinpointing spectrum availability and cybersecurity as predominant future concerns.
Members of the House Commerce Trade Subcommittee pressed several officials on the virtues of vehicle-to-vehicle (V2V) crash avoidance technology and its challenges, pinpointing spectrum availability and cybersecurity as predominant future concerns.
Members of the House Commerce Trade Subcommittee pressed several officials on the virtues of vehicle-to-vehicle (V2V) crash avoidance technology and its challenges, pinpointing spectrum availability and cybersecurity as predominant future concerns.
The Commerce Department is beginning antidumping and countervailing duty investigations on corrosion resistant steel products from China, India, Italy, South Korea and Taiwan, it said in a fact sheet released June 24 (here). A group of U.S. steel manufacturers requested the investigations on June 4 (see 1506080026). The International Trade Commission is set to make its preliminary injury determination by July 20. These AD/CV duty investigations will only continue if the ITC finds injury. ITT will provide more details upon publication of the initiation notice in the Federal Register.
The FCC may delay a vote on IP technology transition rules from its July 16 meeting to its Aug. 6 meeting, industry sources said Wednesday. With the July 16 meeting's preliminary agenda due out Thursday, an FCC official we spoke to had no comment, but a telco industry official said an IP tech transition order is more likely to be considered at the August meeting. Public Knowledge Senior Vice President Harold Feld said, "We are also getting a sense that it is likely to be delayed to August. The problem is that this is not a sexy issue. This is never going to be on John Oliver, and it doesn't generate billions of dollars in auction revenues." A telecom attorney following the proceeding was more definitive when asked if the commission was expected to put the IP tech transition item on the July 16 meeting agenda, saying, "It's not going to happen." The IP tech transition item grew out of a November rulemaking notice and is aimed at ensuring reliable backup power for consumers, proper customer notification of network and service changes and the preservation of competition through "equivalent" wholesale access to ILEC networks (see 1506220041).
The Commerce Department will soon begin requiring countervailing duty cash deposits on imports of uncoated paper from China and Indonesia, it said in a fact sheet issued June 23 (here). Cash deposit requirements will take effect on the date Commerce publishes its preliminary determination in the Federal Register, with rates ranging from 5.82% to 126.42% for Chinese exporters, and 43.19% to 131.12% for Indonesian exporters. The final determination in this investigation is currently due in November, alongside the final determination in Commerce's concurrent antidumping duty investigations. International Trade Today will have more details when Commerce publishes its preliminary determination.