Jeffery G. Davis, retired CEO of the Brock Group, was unanimously named executive chairman after he recently joined the board as a part of the proxy battle settlement. The former chairman resigned earlier this year and CEO Joseph Milliron had served as the interim chair.
Houston-based Swift, which closed at 74 cents a share Tuesday on the New York Stock Exchange, has hired Lazard Freres & Co. as an adviser as it considers its capital structure and financing alternatives.
The so-called drop down deal will sharpen Dallas-based Energy Transfer Partners’ focus on the midstream sector, while also concentrating Energy Transfer’s retail and convince store business in Sunoco LP.
Chief Executive Officer Joe Kaeser, who is focusing Siemens on energy generation and distribution, last year spent $7.6 billion on acquiring oil and gas specialist Dresser-Rand Inc. to boost the company’s installed base of equipment and gain the associated lucrative service contracts.
Based on analysts’ target prices, Repsol is expected to underperform the 18-member Bloomberg Intelligence Global Integrated Oil Index. That’s despite it being only one of five companies where profits are predicted to rise next year.
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