Senate hearing on extreme heat set today
MANILA, Philippines — With 4,000 face-to-face classes suspended, a Senate panel will conduct a hearing today to discuss the effects of extreme heat on learners and the shift to alternative delivery modes.
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Senate to tackle heat’s toll on education, remote learning hurdles
MANILA, Philippines — The Senate committee on basic education will conduct a hearing to discuss the impact of extreme heat on classes, its chairperson said Monday, as the exceptionally hot weather forces the closure of schools in the country.
DMCI Holdings acquires Cemex PH parent company for $305.6-M
DMCI Holdings [DMC 10.86 ?0.7%; 52% avgVol] [link] and Semirara Mining and Power [SCC 32.50 ?0.8%; 22% avgVol] acquired Cemex Asian South East Corp (CASEC), the parent company of Cemex Philippines [CHP 1.36 ?28.4%; 267% avgVol], in a deal worth $305.6 million (~P17.6 billion). CASEC owns 89.86% of CHP. The deal valued CHP at P1.42/share, and will result in a mandatory tender offer for the remaining 10.14% of the public float.MB BOTTOM-LINE: This deal is going to burn a lot of speculators who jumped in over the past couple of months to try to front-run a tender offer for CHP shares. CHP’s price rose from around P0.90/share in early February to around P2.10/share over the course of two weeks, and stayed there (relatively speaking) until the price collapsed 40% a few days before this deal was announced. But this is where things get interesting, because the Consunji Family (the owners of DMC, SCC, and Dacon Corp, the other member of the purchasing group) has said that it intends to keep CHP listed. By law the purchasers must conduct a tender offer, but with the acquisition price so low and the stock only 0.14% above the minimum public ownership threshold, speculators are going to be faced with a complicated game of chicken. If just 19 million shares are sold in the tender offer (~P26.8 million worth), CHP would fall below the minimum public ownership threshold and face delisting unless the buyer group sells some shares to a third party buyer. I think it’s interesting that the group has nominated the only private company in the buyer group (Dacon) to be the tender offer bidder. Perhaps that gives the family enough wiggle room to make some quick deal and offload a small chunk of shares in a private sale to preserve CHP’s listing integrity?
BTS agency files complaint against subsidiary head over breach of trust
SEOUL, South Korea — The South Korean agency behind K-pop sensation BTS on Thursday filed a legal complaint against its powerhouse subsidiary's head for allegedly orchestrating a plan to break away from the parent company.
Nico Bolzico on daughter Tili entering showbiz, managing kids with Solenn Heussaff
HONG KONG, China — Content creator and entrepreneur Nico Bolzico is leaving his daughter Tili's showbiz decisions to her as he is more focused right now on raising two children with wife Solenn Heussaff.
Google parent reports another quarter of robust growth, rolls out first-ever quarterly dividend
Google’s corporate parent Alphabet Inc. on Thursday released a quarterly report showing it’s still reaping double-digit revenue gains from its digital advertising empire while sowing potentially lucrative new ground in artificial intelligence.
13-Year-Old Philippines Girl Hides Being Bitten By Stray Dog, Dies Of Rabies 2 Months Later
A 13-year-old girl in the Philippines died of rabies after she was bitten by a stray dog and kept it secret from her parents. According to Metro, Jamaica Star Seraspe had been walking home from school in Tondo District, Manila, in the Philippines when a stray dog bit her on February 9.
Press Release - Alan and Pia help 500 fisherfolk, solo parents in CDO
"May pambayad na ako ng kuryente!"