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Masonite Int'l Confirms Termination Of Merger Agreement To Acquire PGT Innovations
(RTTNews) - Masonite International Corp. (DOOR) on Wednesday confirmed the termination of its previously announced definitive merger agreement to acquire PGT Innovations, Inc. (PGTI). In accordance with the terms of the merger agreement, Masonite received a termination fee of $84 million.
This termination follows the Masonite Board of Directors' decision not to submit a revised offer to acquire PGT Innovations, after being notified that the PGT Board had determined that a revised proposal from MITER Brands submitted on January 12, 2024, was a "superior proposal."
Masonite International said disciplined capital allocation will continue to support Doors That Do More strategy and drive enhanced shareholder value.
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European Shares Edge Lower Following US Tech Selloff
European stocks were subdued on Wednesday after closing at five-month high in the previous session on news of a potential Ukraine-Russia summit.
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hace 12 minutos
UK Inflation Hits 18-Month High
UK consumer price inflation accelerated to an 18-month high in July on airfares and food prices, suggesting that the Bank of England is likely to delay further easing. The consumer price index posted an annual growth of 3.8 percent after rising 3.6 percent in June, the Office for National Statistics reported Wednesday.
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hace 28 minutos
Asian Shares Mixed As Tech Stocks Track Declines In US Peers
Asian stocks ended mixed on Wednesday as investors locked in profits in tech stocks amid concerns over valuations and reports of potential U.S. government equity stakes in major chipmakers.
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hace 39 minutos
Australian Dollar Falls Amid RBA Rate Cut Speculation
The Australian dollar weakened against other major currencies in the Asian session on Wednesday, as traders expect two or more rate cuts if inflation continues to decline as anticipated.
Earlier this month, the Reserve Bank of Australia (RBA) lowered its cash rate to 3.60 percent from 3.85 percent, as widely expected.
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hace 1h 16min
New Zealand Hints At More Interest Rate Cuts
The Reserve Bank of New Zealand reduced its key interest rate by 25 basis points to a three-year low and hinted at further easing on Wednesday. The Monetary Policy Committee, governed by Christian Hawkesby, voted to lower the Official Cash Rate to 3 percent from 3.25 percent. The bank has reduced the rate by 250 basis points since August 2024.
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hace 1h 32min
NZ Dollar Slides As RBNZ Cuts Rate By 25 Bps
The New Zealand dollar weakened against other major currencies in the Asian session on Wednesday, after the Reserve Bank of New Zealand decided to cut its key interest rate by 25 basis points and signaled further easing.
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hace 2h 52min
European Economic News Preview: UK Inflation Data Due
Consumer prices from the UK and the euro area due on Wednesday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics publishes UK consumer prices for July. Inflation is seen rising to 3.7 percent in July from 3.6 percent in the previous month.
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hace 3h 14min
China Leaves Benchmark Interest Rate Unchanged
The People's Bank of China maintained its interest rates on Wednesday, as Beijing focus on fiscal policy easing and more targeted measures. The central bank left its one-year loan prime rate at 3.0 percent. Similarly, the five-year LPR, the benchmark for mortgage rates, was retained at 3.50 percent. The bank had reduced its both LPRs by quarter points in October 2024.
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hace 3h 23min
