Pompano Beach, FL -- (SBWIRE) -- 10/05/2012 -- Arbor Realty Trust, Inc. (NYSE:ABR) shares dropped 6.28% to $5.67 after the company announced that it has successfully priced its public offering of 3.5 million shares of common stock at a public offering price per share of $5.80. The Company has also granted the underwriters a 30-day option to purchase up to an additional 525,000 shares of its common stock on the same terms and conditions, solely to cover over-allotments, if any.
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Hertz Global Holdings, Inc. (NYSE:HTZ) shares climbed 0.27% to $14.60 in the early hour after the company announced that it has extended the expiration date of previously announced cash tender offer to purchase all outstanding shares of common stock of Dollar Thrifty Automotive Group, Inc. for $87.50 per share. The tender offer is scheduled to expire at 5:00 p.m., New York City time, on October 22, 2012, unless further extended in accordance with the merger agreement and the applicable rules and regulations of the U.S. Securities and Exchange Commission (SEC). The tender offer was previously scheduled to expire at 12:00 midnight, New York City time, on October 5, 2012.
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Avon Products, Inc. (NYSE:AVP) shares gained 6.54% to $17.28 after the company announced Andrea Jung has informed the Board of Directors that she will step down as Executive Chairman and Board member, effective December 31, 2012 after transition to new leadership under CEO Sheri McCoy. Ms. Jung will continue as a senior advisor to the Board beginning on January 1, 2013.
Fred Hassan, currently lead independent director, will succeed Ms. Jung next year and assume the position of non-executive Chairman on January 1. Mr. Hassan is a Managing Director and partner at Warburg Pincus and the former Chairman and Chief Executive Officer of Schering-Plough Corp.
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Alliant Techsystems Inc. (NYSE:ATK) stock increased 2.16% to $52.90 after the company has won a contract valued at up to $8.4 billion to supply small-caliber ammunition to the U.S. Army and continue operating the Lake City Army Ammunition Plant. The fixed-price contract runs through Sept. 30, 2022.
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Energy Transfer Partners LP (NYSE:ETP) stock jumped 5.05% to $43.73 after ETP and Sunoco, Inc. announced the completion of the previously announced merger of a wholly owned subsidiary of ETP, with and into Sunoco, with Sunoco surviving the merger as a subsidiary of ETP.
Under the terms of the merger agreement, Sunoco shareholders were able to receive, for each Sunoco common share they owned, a combination of $25.00 in cash and 0.5245 of an ETP common unit.
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