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Apollo Global Management (NASDAQ:APO): According to the New York Post, Apollo Global Management has a significant debt position in Cengage Learning and may trip their loan covenants by 2013 or 2014 at the latest. Unnamed sources said that Apollo may then plan to repossess Cengage and combine it with McGraw-Hill (NYSE:MHP) to help cut costs. Their shares closed at $15.76, up $0.07 or 0.45% on the day. They have traded in a 52-week range of $10.42 to $15.77.
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Equifax (NYSE:EFX) announced that their subsidiary, Equifax Information Services, has entered into a definitive asset purchase agreement with CS Credit Services, a subsidiary of Computer Sciences Corporation (NYSE:CSC), to acquire certain credit services business assets and operations of CSC. The purchase price is $1 billion in cash. As a result of this transaction, Equifax expects to realize tax benefits from a step-up in the tax basis of the purchased assets having an estimated net present value of approximately $200 million over a 15-year amortization period. The closing of the transaction is expected to occur by the end of the year and the transaction will generate incremental net operating revenue to Equifax in the range of $115-$125 million and earnings before interest, taxes, depreciation and amortization of $105-$110 million. The combined impact of the acquisition and the change in focus on the use of cash is expected to be accretive to adjusted earnings per share attributable to Equifax by approximately 45c-50c per share in 2013 and the additional investment in growth initiatives and infrastructure will partially offset this accretion by approximately 10c per share. Their shares closed at $53.38, up $2.14 or 4.18% on the day. They have traded in a 52-week range of $36.81 to $51.86.
Haemonetics Corp. (NYSE:HAE) announced a 2-for-1 split of all shares of their common stock in the form of a 100% stock dividend. Each outstanding share of the company’s pre-split common stock, including shares subject to outstanding stock options and shares available for grant under the company’s equity incentive plans, was split into two shares effective at 5:00pm Eastern Time on November 30. Their shares closed at $41.38, down $39.65 or 48.93% on the day. They have traded in a 52-week range of $57.04 to $83.00.
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