The tobacco giant announced its support for a proposed merger between Anheuser-Busch InBev and fellow brewing and beverage company SABMiller, of which Altria is its largest shareholder. The cash offer by AB InBev was made Wednesday to SABMiller, which rejected the $104 billion proposal, according to a Wall Street Journal report.
Six executives purchased 1,318 shares of common stock at $27.01 per share on Sept. 30. CEO Thomas Schievelbein purchased 567 shares of common stock at $27.01 per share for a total of about $15,300.
Cordia Bancorp (BOVA)
Ed Barham, president and CEO of the company Bank of Virginia subsidiary, received 3,378 shares at no cost.
Genworth Financial (GNW)
The company’s Genworth Life and Annuity Insurance Co. subsidiary entered into a reinsurance agreement for Protective Life Insurance Co. to coinsure certain term life insurance business of GLAIC. Protective Life is expected to receive a base commission of $63 million. The agreement is expected to be finalized during the first quarter of 2016. Genworth said the deal would result in a loss of approximately $275 to $325 million in the third quarter of 2015 related to the sale of the life insurance block.
James River Coal (JRC)
The company filed its latest monthly operating report as part of its reorganization under Chapter 11 bankruptcy protection.
Media General (MEG)
The company announced it has retained Goldman, Sachs & Co. and Weil, Gotshal & Manges LLP as additional independent financial and legal advisors to assist in evaluating the unsolicited acquisition proposal from Nexstar Broadcasting Group. The firms will work with RBC Capital Markets and Fried, Frank, Harris Shriver & Jacobson, who will continue to serve as financial and legal advisors.
Owens & Minor (OMI)
Executive vice president William Marshall Simpson acquired 2,567 restricted shares of common stock with a vesting date of Feb. 5, 2018.
Performance Food Group (PFGC)
The foods distributor filed 20 initial statements of beneficial ownership of securities in conjunction with its relisting Oct. 1 on the New York Stock Exchange. Majority owners The Blackstone Group and Wellspring Capital Management are the largest shareholders with 62.3 million indirect shares and 16.7 million direct shares, respectively.
Six directors each purchased 1,079 shares of common stock at $13.08 per share on Sept. 30. Director William Gottwald purchased 1,700 shares for a total of $22,236.
The board appointed Michael Giancaspro to serve as vice president of business processes and corporate development. He was previously president of Turnaround Strategies and was part of Tredegar’s initial senior management team in 1989 and as vice president from 1992 to 2000 and from 2003 to 2005. He will receive an annual base salary of $335,000, prorated for this fiscal year.
Union Bankshares (UBSH)
John Neal, who will retire as president of Union Bank as of Dec. 31, will take on an independent consulting role with the company following that date and through Dec. 31, 2017. During that time he’ll receive monthly payments of $29,895, among other benefits. He’ll also subject to non-competition, non-solicitation and confidentiality covenants currently applicable to him.