Latest news with #MRC
Yahoo
a day ago
- Business
- Yahoo
Why MRC Global (MRC) Stock Is Up Today
Shares of fluid and gas handling company MRC (NYSE:MRC) jumped 16.4% in the morning session after the company agreed to be acquired by rival DNOW Inc. (NYSE: DNOW) in an all-stock transaction valued at approximately $1.5 billion. The deal creates a combined entity described as a "premier energy and industrial solutions provider" with over 350 locations in more than 20 countries. Under the agreement, MRC Global shareholders will receive 0.9489 shares of DNOW common stock for each MRC share they own. This represents a premium of 8.5% to MRC Global's 30-day volume-weighted average price as of June 25, 2025. The merger is expected to generate significant cost savings, with the companies targeting $70 million in annual synergies within three years. The transaction, which has been unanimously approved by both boards of directors, is anticipated to close in the fourth quarter of 2025, pending shareholder and regulatory approvals. Upon completion, DNOW shareholders will own about 56.5% of the combined company, with MRC Global shareholders holding the remaining 43.5%. Is now the time to buy MRC Global? Access our full analysis report here, it's free. MRC Global's shares are somewhat volatile and have had 10 moves greater than 5% over the last year. But moves this big are rare even for MRC Global and indicate this news significantly impacted the market's perception of the business. MRC Global is up 20.5% since the beginning of the year, and at $15.31 per share, has set a new 52-week high. Investors who bought $1,000 worth of MRC Global's shares 5 years ago would now be looking at an investment worth $2,475. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Hindu
a day ago
- General
- The Hindu
Death anniversary of India's first Field Marshall Sam Manekshaw observed in Nilgiris
The Madras Regimental Centre (MRC) in Wellington, Coonoor observed the 17th death anniversary of Field Marshall Sam Manekshaw on Friday (June 27, 2025). The event was marked with a wreath laying ceremony held at his final resting place in Udhagamandalam in the Nilgiris, a press release from the MRC stated. Field Marshall Manekshaw passed away on June 27, 2008 and 'his legacy remains eternally etched in the heart of every Indian soldier,' the press release added. 'The ceremony paid homage to one of India's greatest military leaders, who led the Indian army to victory in the 1971 Indi-Pak war and became the first Indian army officer to be promoted to the rank of Field Marshall. Officer, Junior Commissioned Officers, and soldiers of the Madras Regiment and Defence Services Staff College (DSSC) gathered to honour his legacy and lifelong dedication to the service of the nation.' The ceremony began with the laying of the wreaths at the Manekshaw Memorial by senior officers, including the Commandant of the DSSC and members of the Parsi community, the press release added. A guard of honour was presented as a mark of respect followed by a two-minute silence in memory of Mr. Manekshaw. 'Field Marshall Manekshaw's illustrious military career spanned over four decades, from World War II to post-Independence conflicts. Revered for his strategic brilliance, charismatic leadership and unwavering courage, he remains an enduring symbol of India's military heritage,' the press release added.
Business Wire
2 days ago
- Business
- Business Wire
MRC Stock Alert: Halper Sadeh LLC Is Investigating Whether the Sale of MRC Global Inc. Is Fair to Shareholders
NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of MRC Global Inc. (NYSE: MRC) to DNOW Inc. for 0.9489 shares of DNOW common stock for each share of MRC common stock is fair to MRC shareholders. Halper Sadeh encourages MRC shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or sadeh@ or zhalper@ The investigation concerns whether MRC and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for MRC; (2) determine whether DNOW is underpaying for MRC; and (3) disclose all material information necessary for MRC shareholders to adequately assess and value the merger consideration. On behalf of MRC shareholders, Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits. We would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses. Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome.
The Guardian
2 days ago
- Health
- The Guardian
UK scientists to synthesise human genome to learn more about how DNA works
Researchers are embarking on an ambitious project to construct human genetic material from scratch to learn more about how DNA works and pave the way for the next generation of medical therapies. Scientists on the Synthetic Human Genome (SynHG) project will spend the next five years developing the tools and knowhow to build long sections of human genetic code in the lab. These will be inserted into living cells to understand how the code operates. Armed with the insights, scientists hope to devise radical new therapies for the treatment of diseases. Among the possibilities are living cells that are resistant to immune attack or particular viruses, which could be transplanted into patients with autoimmune diseases or with liver damage from chronic viral infections. 'The information gained from synthesising human genomes may be directly useful in generating treatments for almost any disease,' said Prof Jason Chin, who is leading the project at the MRC's Laboratory of Molecular Biology (LMB) in Cambridge. Scientists have been able to read DNA for decades. The first draft of the human genome was announced 25 years ago, a feat that set the stage for the ongoing genetics revolution. But while the technology for reading genomes has progressed rapidly, writing them has proved more difficult. For the SynHG project, researchers will start by making sections of a human chromosome and testing them in human skin cells. The project involves teams from the universities of Cambridge, Kent, Manchester, Oxford and Imperial College London. Chin's team recently synthesised the complete genome of the E coli bacterium. But while the bug's genome carries about 4.5m base pairs, represented by the letters G, T, C and A, the human genome holds more than 3bn base pairs. 'If you think about the human genome, it's more than just a set of genes on a string,' said Dr Julian Sale, a group leader at the LMB. 'There's an awful lot of the genome, sometimes called the dark matter of the genome, that we don't know what it does. The idea is that if you can build genomes successfully, you can fully understand them.' Embedded in the project is a parallel research effort into the social and ethical issues that arise from making genomes in the laboratory, led by Prof Joy Zhang at the University of Kent. 'We're a little way off having anything tangible that can be used as a therapy, but this is the time to start the discussion on what we want to see and what we don't want to see,' Sale said. Prof Iain Brassington, who studies the ethics of genetic technology at the University of Manchester, welcomed the project. While real-world applications are some way off, he said the work could lead to synthetic versions of mitochondria, the tiny battery-like structures that power biological cells. These could be used to prevent women who carry mitochondrial diseases from passing them on to their children. 'The would-be mother would still need to undergo egg harvesting and IVF, but we'd no longer need a donor, so we'd halve the number of women burdened by the procedure,' he said. But the technology did pose problems, Brassington added. It might be possible to make bacteria that – thanks to their synthetic genomes – can digest petrochemicals, which could be useful for breaking down plastic waste and clearing up oil spills but would need to be handled extremely carefully. 'Such bugs getting into the environment could be catastrophic,' he said. The spectre of designer babies is another valid concern. Parents could potentially use the technology to shape their children before birth, raising questions over how much control they should have. In another 'slightly wild' idea, Brassington said celebrities might even start 'licensing' parts of their genome to allow people to copy their genes. 'There might also be situations in which a man discovers that he is the 'genetic' parent of a child of whom he knew nothing,' Brassington added. 'This could already happen, of course, but he would currently know how it happened. SynDNA enables us to imagine a situation in which a replica of someone's DNA could be used to father a child with no cellular contribution from him at all.' However, he said: 'Generally, I think the concerns about designer babies all rely on some fairly far-fetched technology. I'm not going to lose too much sleep over them.'
Sydney Morning Herald
3 days ago
- Business
- Sydney Morning Herald
A 13-year-old played the pokies. Melbourne Racing Club's new-look leadership has to conduct a review
On one of those occasions he was with adults and used a machine for five minutes without a staff member intervening. The court took into account that the Peninsula Club had self-reported the breach and taken steps to prevent similar incidents happening again. The MRC was fined a further $60,000 by the VGCCC in March after three of its venues – the Peninsula Club, Steeples in Mornington and Ringwood hotel The Coach and Horses – allowed customers to use poker machines outside permitted trading hours on Good Friday last year. The three gaming venues opened before noon. The MRC came under scrutiny earlier this month after the board removed CEO Tom Reilly from office just three months after he started the role. It also appointed Tanya Fullarton as chief operating officer without advertising the position or conducting an interview process. Loading Fullarton is vice chair of the Thoroughbred Racehorse Association Board, sitting alongside chairman and billionaire racehorse owner Jonathan Munz. MRC board member Barbara Saunders resigned on learning that Reilly would lose his job. 'I resigned because I had concerns about the lack of governance at the club and the removal of Tom Reilly from his position as CEO because, in my opinion, he was performing the role very well,' Saunders said at the time. The MRC board then appointed Kanga as honorary executive chairman. Since the start of the year, the MRC has parted ways with Reilly, and four senior staff members – Menz, chief financial officer Brent Westerbeek, head of commercial Alana Bray and head of racing and operations Jake Norton have resigned. In a statement to this masthead regarding its racing operations, the MRC said: 'Despite this disruption, the club is performing well and the transition has been smooth. The impact on the performance and staff has been positive, with Fullarton being well received and staff morale improving substantially.' This masthead reached out to Menz, who declined to comment. Reilly has also declined to comment when previously contacted about his exit. At board level, former chairman Matt Cain, former vice chairman Nick Hassett, Mark Pratt, Brooke Dawson, Scott Davidson and Jill Monk have all walked away in the past 12 months. Former CEO Josh Blanksby resigned at the end of August after seven years in the role. Kanga seized control of the board after filing a shock motion for a special general meeting in August last year. He was voted in as chairman in October. His Save Our MRC movement swept to power on three key promises: saving Sandown Racecourse, returning the mounting yard to its original position in front of the Caulfield members' stand, and scrapping plans to build a new $250 million grandstand at Caulfield. In its statement, the MRC said it is 'fully committed to upholding the highest standards of regulatory compliance, adherence to all legal requirements and industry best practice to prevent any form of underage gambling. 'Subsequent to a self-reported incident in June 2023 involving an underage individual entering one of our venues, the MRC made application to vary its licence conditions to include a one-off risk assessment with the Victorian Gambling and Casino Control Commission (VGCCC).' Loading The MRC said it immediately introduced a range of measures to reinforce its zero-tolerance approach to under-age gambling, including 'physical barriers and secured entry points; installation of glass doors with controlled access; comprehensive staff training on risk identification and ID verification; [and] enhanced signage and reconfigured floor layouts to improve visibility and patron monitoring.' A Victorian gambling commission spokesperson told this masthead that the MRC was required to 'commission an independent risk assessment at all of 14 of its venues and implement the recommended controls to prevent minors from entering poker machine areas'. 'The VGCCC has zero tolerance for breaches involving children,' the spokesperson said. 'Research tells us that people who begin gambling at a young age are at greater risk of developing gambling problems as an adult. 'Some examples of controls could include displaying clear signage that the poker machine room is only for adults and checking the identification of anyone who appears under 25 years of age before allowing them to enter a gaming area.' Valley's $70m rebuild deal Moonee Valley Racing Club has awarded a $70 million civil works contract to construction company Symal to rebuild its racecourse. Moonee Valley will shut its gates after this year's October 25 Cox Plate to undergo an extreme 21-month makeover, which includes reshaping its unique amphitheatre circuit. The contract includes earthworks, full track reconstruction, new racing infrastructure, upgraded underpasses, retaining walls and the installation of new track lighting.
