The transaction, which will close by July, will net Penney about $ 3.5 billion in cash
after closing adjustments, taxes, fees and other transactional expenses.
To give you a sense of just how much money is to be made, the single April 2015 transaction allowed the company to remove the principal balance of loans backing the Trust from its balance sheet and realize a pre-tax gain on sale of approximately $ 78 million after
estimated closing adjustments and transaction costs, a 10.5 - percent premium over the loans» book value.
The all - cash transaction values deCODE Genetics at $ 415 million, subject to
customary closing adjustments, and was unanimously approved by the Amgen Board of Directors.
Capital spending during the first quarter was $ 349 million, including $ 13 million in midstream development expenses, $ 4.6 million in land purchases and $ 26.3 million in San Juan activity that is reimbursable to WPX in conjunction with
the closing adjustments for the Gallup divestiture.
The financial cost of the deal, which is subject to CySEC approval and
closing adjustments, was reported at $ 400,000.
Be sure to budget for
closing adjustments, disbursements and legal fees.