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Globe and Mail
14 minutes ago
- Globe and Mail
Babcock & Wilcox Announces Results of Its Cash Tender Offers For Two Series of Notes
Babcock & Wilcox Enterprises, Inc. ('B&W' or the 'Company') (NYSE: BW) announced today the expiration and results of its previously announced offers to purchase for cash (the 'Cash Offers') up to a maximum $70 million aggregate amount (the 'Offer Cap') of Tender Consideration (as defined below) of the Company's 8.125% Senior Notes due 2026 (the 'February 2026 Notes') and 6.50% Senior Notes due 2026 (the 'December 2026 Notes' and, together with the February 2026 Notes, the 'Notes'). The Cash Offers expired at 5:00 p.m., New York City time, on August 15, 2025 (the 'Expiration Time'). As of the Expiration Time, an aggregate principal amount of: (i) $109,021,800 of the February 2026 Notes were outstanding and an aggregate principal amount of $5,602,000 or approximately 5.14%, of the February 2026 Notes were validly tendered and not validly withdrawn; and (ii) $103,632,975 of the December 2026 Notes were outstanding and an aggregate principal amount of $2,693,100 or approximately 2.60%, of the December 2026 Notes were validly tendered and not validly withdrawn. The Company has accepted for payment all Notes validly tendered and not validly withdrawn prior to the Expiration Time pursuant to the settlement procedures described in the Offer to Purchase, dated June 5, 2025. Requests for documents relating to the Cash Offers may be directed to D.F. King & Co., Inc., the Tender Agent and Information Agent for the tender offer, at (800) 769-4414 (toll-free) or 212-269-5550 (collect). B. Riley Securities, Inc. acted as Dealer Manager for the Cash Offers. Questions regarding the Cash Offers may be directed to B. Riley Securities, Inc. by email at corporateactions@ or by calling toll-free at (833) 528-1067. This press release is not an offer to sell, or a solicitation of an offer to buy any of the securities described therein.
CBC
30 minutes ago
- CBC
What did Trump accomplish in his summit with Putin?
U.S. President Donald Trump and Russian President Vladimir Putin concluded their summit in Alaska without a deal to end the war in Ukraine. Trump said there would be 'no deal until there is a deal.'
CTV News
44 minutes ago
- CTV News
Power Play. Democrats release plan to boost party's California U.S. House seats in fight for Congress
LOS ANGELES — In a display of cutthroat yet calculated politics, Democrats unveiled a proposal Friday that could give California's dominant political party an additional five U.S. House seats in a bid to win the fight to control Congress next year. The plan calls for an unusually timed reshaping of House district lines to greatly strengthen the Democratic advantage in the state ahead of midterm elections, when Republicans will be defending the party's fragile House majority. It amounts to a counterpunch to Texas, where the GOP is trying to add five seats to its House delegation at the urging of U.S. President Donald Trump as he tries to avoid losing control of Congress and, with it, prospects for his policy goals in the later part of his term. If approved by voters in a November election, the California blueprint could nearly erase Republican House members in the nation's most populous state. The Democratic plan is intended to win the party 48 of the state's 52 U.S. House seats. The proposal was released by the campaign arm of House Democrats, the Democratic Congressional Campaign Committee. Democrats in the state Legislature will hold hearings and plan to vote on maps next week. Leaders did not immediately comment on the DCCC maps. New districts have boundaries to boost Democratic edge While a general notion behind drawing districts is to unite what's called communities of interest — neighborhoods and cities that share similar concerns or demographic traits — the proposed remapping would create a jigsaw of oddly shaped districts to maximize Democratic clout. The 1st Congressional District is currently anchored in the state's conservative far northeast corner and is represented by Republican Rep. Doug LaMalfa, a Trump supporter. The district has a nearly 18-point GOP registration edge. Under the proposal Democrats would end up with a 10-point registration advantage in the district after drastic reshaping to include parts of heavily Democratic Sonoma County near the Pacific Coast. In the battleground 41st District east of Los Angeles, now represented by long-serving Republican Rep. Ken Calvert, Democratic and Republican registration is currently split about evenly. But in the redrawn district, Democratic registration would jump to 46 per cent, with GOP registration falling to 26 per cent. Texas remains at stalemate in push for more GOP seats The release of the plan came the same day that Texas Republicans began a second special session to approve new congressional maps sought by Trump to bolster his party ahead of the 2026 elections. The GOP's first special session in Texas ended without approving new political maps, thwarted by Democrats who staged a nearly two-week walkout that meant not enough lawmakers were present to pass any legislation. Gov. Greg Abbott then quickly called a second session that then started without the necessary quorum to conduct business. Newsom promises fight with Trump In California, Democratic Gov. Gavin Newsom said Thursday that his state will hold a Nov. 4 special referendum on the redrawn districts. 'We can't stand back and watch this democracy disappear district by district all across the country,' Newsom said. Newsom's announcement marked the first time any state beyond Texas officially waded into Trump's fight, though several governors and legislative leaders from both parties have threatened such moves. Richard Hudson of North Carolina, who heads the House GOP campaign arm, said Newsom, a potential 2028 presidential candidate, is 'shredding California's Constitution and disenfranchising voters.' 'Californians oppose Newsom's stunt because they won't let a self-serving politician rig the system to further his career,' said Hudson, who heads the National Republican Congressional Committee. In Texas, absent lawmakers have said they will return to Austin once California Democrats take more formal steps on their own redistricting plan that they've been shaping behind closed doors. Trump is trying to protect Republicans' slim House majority in Washington and avoid a repeat of the 2018 midterms, when the GOP yielded control during his first presidency to a Democratic majority that stymied his agenda and twice impeached him. The nation's two most populous states have been at the forefront of the resulting battle that has reached into multiple courtrooms and statehouses controlled by both parties. Texas House Speaker Dustin Burrows chided his colleagues who left Austin, accusing them of 'following Gov. Newsom's lead instead of the will of Texans.' The speaker said, however, that he's 'been told' to expect a quorum on Monday. 'Let's be ready to work,' Burrows said, ticking through a litany of issues without mentioning the president or redistricting. Fight has gone national Trump has urged other Republican-run states to redraw maps, even dispatching U.S. Vice President JD Vance to Indiana to pressure officials there. In Missouri, a document obtained by The Associated Press shows the state Senate received a US$46,000 invoice to activate six redistricting software licenses and provide training for up to 10 staff members. Newsom encouraged other Democratic-led states to 'stand up — not just California.' House control could come down to a few seats in 2026 Nationally, the partisan makeup of existing district lines put Democrats within three seats of a majority. Of the 435 total seats, only several dozen districts are competitive. So even slight changes in a few states could affect which party is in control after the 2026 midterms. New maps are typically drawn once a decade after the census — the last being in 2020. Many states, including Texas, give legislators the power to draw maps. California is among those that empowers independent commissions with the task. California Democrats hold 43 of the state's 52 House seats. A new California map would take effect only if a Republican state moves forward. It would remain through the 2030 elections. After that, Democrats say they would return mapmaking power to the independent commission voters approved in 2008. Some people already have said they would sue over the effort. Republican former Gov. Arnold Schwarzenegger, a longtime opponent of partisan redistricting, signaled he won't side with California Democrats even after talking to Newsom. On Friday, he posted a photo of himself at the gym wearing a T-shirt that said, 'Terminate gerrymandering,' with a reference to an obscenity and politicians. 'I'm getting ready for the gerrymandering battle,' Schwarzenegger wrote. ___ Nguyễn reported from Sacramento, California, Blood reported from Los Angeles and Barrow reported from Atlanta. Associated Press writer David Lieb in Jefferson City, Missouri, contributed. Michael R. Blood, Trân Nguyễn, Nadia Lathan And Bill Barrow, The Associated Press
