health safety enviro health safety enviro health safety HSE focus in all we do Health‚ Safety & Environment From the Chairman & CEO FMC Technologies’ goal is to be the leading provider of technology solutions and services to the Energy Industry. Our progress towards achieving that goal is measured not only in the dollars of revenue we earn or in the quality and innovation of the products and services we provide‚ but also in how we protect the health and safety of our employees‚ reduce the
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that will sustain the kind of strong cultures that make them distinctive and yet adaptive. These viewpoints of FMC Aberdeen and FMC Green River will try to incorporate alternative methods that will help leverage their employees’ abilities and implement new methodologies that both organizations could use to reinforce their managerial approaches. In these case these two FMCs’ is not of the same because one organization is rare in that its management is minimized for most of the work is done
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Clinically‚ non-steroidal anti-inflammatory drugs (NSAIDs) are the most frequently prescribed class of drugs for inflammatory disorders (1). Lornoxicam is a novel NSAID drug. It has an equipotent COX isoenzyme inhibitory effect and subsequently reduces the production of prostaglandins‚ thromboxane‚ and leukotrienes (2). It is prescribed for mild to moderate pain and inflammation in osteoarthritis and rheumatoid arthritis (3). It is prescribed for the treatment of osteoarthritis due to its analgesic
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debt yet. Aurora Borealis is trying to convince Wrigley to do a leveraged recapitalization through a dividend or share repurchase. So Wrigley has to make decisions on whether or not to borrow $ 3 billion for recapitalization. Question Based on the above situation‚ there are few questions that arise as seen below: ●Whether the recapitalization would be good for the company’s development in the long run? ●After borrowing
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debt would depend on her assessement of wrigley’s debt rating after recapitalization and on current capital market rates. WACC before recapitalization Wrigley’s pre recapitalization WACC is 10.9%‚ the cost of equity assumes a risk free rate of 5.65% for 20 years US treasuries in the case exhibit 7; a risk premium is assumed 7% (or 5%)‚ and uses Wrigley’s current beta of 0.75 (case Exhibit 5). 4. WACC after recapitalization The increase in leverage will affect Wrigley’s WACC in at least three
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fall in stock prices than the long term investment in growth and stability of the firm. The hedge fund plans to short the stock at the moment it rises to the optimal level due to strong signals the hedge fund is trying to pursue. Effect of recapitalization on WACC The current WACC of Wrigley is 10.9%. Since it is all equity firm the WACC is same as cost of equity. Raising $3billion debt for repurchase of stock or dividend would change the capital structure of the firm. The raised debt‚ because
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4) UST Inc. has paid uninterrupted dividends since 1912. Will the recapitalization hamper future dividend payments? UST Inc. has paid uninterrupted dividends since 1912. Assess the impact of the plan on UST’s $ dividend and dividend per share‚ assuming it continues to payout 64% of its earnings as dividends. Exhibit TN-6: Impact of Recapitalization on DividendsDebt = $1 BillionActual 1998Pro-forma 1999 No debtPro-forma 1999 Rd = 7.82Net Income467.9491442.56Shares185.5185.5158.42Earnings per Share2
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The Wm. Wrigley Jr. Company: capital structure‚ valuation‚ and cost of capital Teaching Note Synopsis In June 2002‚ a managing director of an active-investor hedge fund was considering the possible gains from increasing the debt capitalization of the Wm. Wrigley Jr. Company. Wrigley had been conservatively financed and at the date of the case‚ carried no debt. The tasks for the student are to: Estimate the potential change in value from relevering Wrigley using adjusted present value analysis
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The company is considering a recapitalization where it will issue $1 million in debt and use the proceeds to repurchase stock. Investment bankers have estimated that if the company goes through with the recapitalization‚ it’s before-tax cost of debt will be 11%‚ and its cost of equity will rise to 14.5%. Assuming the company maintains the same payout ratio‚ what will be its stock price following the recapitalization? (Points: 8) After recapitalization: EBIT 1‚000‚000 Less Interest (1
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on distressed companies‚ merger arbitrage‚ change of control transactions‚ and recapitalizations. They are trying to buy a large stake in the company and thereby force the management to reorganize the capital structure by raising the debt and using it to pay the dividends or buy back the shares. As a part of evaluating they wanted to find if they are inefficiently financed or not. Under the proposed recapitalization‚ Wrigley would borrow $3 billion and use it either to pay equivalent dividends
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