ClearBridge All Cap Growth ESG ETF (NASDAQ: CACG)

Latest News for ClearBridge All Cap Growth ESG ETF (NASDAQ:CACG)

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Benzinga&#39;s M&amp;A Chatter for Wednesday July 16, 2014

Legg Mason Inc (NYSE: <a class="ticker" href="/stock/lm#NYSE">LM</a>) added to its stable of exchange-traded funds earlier this week with the debut of the ClearBridge All Cap Growth ETF (NASDAQ: <a class="ticker" href="/stock/cacg#NASDAQ">CACG</a>).
Maryland-based Legg Mason partnered with New York-based ClearBridge Investments on the new actively managed ETF. CACG holds large-, mid- and small-cap stocks. 
&ldquo;The ClearBridge team will utilize a bottom-up investment process to find inefficiently priced companies with strong fundamentals, incentive-driven management teams, dominant positions in niche markets and goods and services that are in high customer demand. The management team will also scrutinize companies with a range of growth opportunities while evaluating the company&rsquo;s business model, financial structure and management acumen,&rdquo; <a href="https://www.etftrends.com/2017/05/legg-mason-launches-quality-growth-active-etf-with-clearbridge/">according to ETF Trends</a>.
<h3>CACG's Holdings And Allocations</h3>
CACG&#39;s holdings must have a minimum market value of $300 million.
&ldquo;A core group of large cap growth companies is then complemented by prevailing tactical themes. For small- and medium-sized growth stocks, the team targets rapid earnings growth potential, unrecognized values, industry leadership and significant management ownership stake,&rdquo; <a href="https://www.leggmason.com/en-us/products/exchange-traded-funds/clearbridge-all-cap-growth-etf.html">according to Legg Mason</a>. 
The new ETF&#39;s largest holdings include familiar names such as Amazon.com, Inc. (NASDAQ: <a class="ticker" href="/stock/amzn#NASDAQ">AMZN</a>), Google parent Alphabet Inc (NASDAQ: <a class="ticker" href="/stock/goog#NASDAQ">GOOG</a>) (NASDAQ: <a class="ticker" href="/stock/googl#NASDAQ">GOOGL</a>), Biogen Inc. (NASDAQ: <a class="ticker" href="/stock/biib#NASDAQ">BIIB</a>) and Microsoft Corporation 
 (NASDAQ: <a class="ticker" href="/stock/msft#NASDAQ">MSFT</a>).
<h3>CACG Joins A Pedigree Stable</h3>
Other Legg Mason ETFs include the Legg Mason Low Volatility High Dividend ETF (NASDAQ: <a class="ticker" href="/stock/lvhd#NASDAQ">LVHD</a>). 
LVHD is &ldquo;focused on income, risk mitigation and capital appreciation. It&#39;s based upon the idea a stock&#39;s ability to sustain a strong dividend payout is often associated with lower volatility, making these two characteristics complementary. Using a disciplined, rules-based methodology, the fund will screen for stocks with the potential for sustainable high dividends, while simultaneously screening out historically volatile stocks in the market,&rdquo; according to Legg Mason.
In June 2016, the firm launched the Legg Mason International Low Volatility High Dividend ETF (BATS: LVHI). 
Related Links:
<a href="https://www.benzinga.com/trading-ideas/long-ideas/17/05/9389975/5-donald-trump-inspired-leveraged-etfs-make-their-debut">5 Donald Trump-Inspired Leveraged ETFs Make Their Debut</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/17/05/9398542/consumer-discretionary-concerns">Consumer Discretionary Concerns</a>

Chart Acquisition Corp. (NASDAQ: CACG; CACGW; CACGU) ("Chart") today announced that it has entered into an Agreement and Plan of Merger ("Merger Agreement") with Tempus Applied Solutions, LLC ("Tempus"), an aviation solutions company (the "Business Combination"). Pursuant to the terms of the Merger Agreement, Chart and Tempus will combine under a new holding company called Tempus Applied Solutions Holdings, Inc. ("Tempus Holdings"). 
Tempus is a recently-formed company that provides customized aircraft engineering, integration and operations solutions that support critical missions of the United States Department of Defense (DoD), U.S. intelligence agencies, foreign governments, heads of state and others worldwide. Tempus will design and implement special mission aircraft modifications related to intelligence, surveillance and reconnaissance systems, new generation command, control and communications systems and VIP interior components and provide ongoing operational support including flight crews and maintenance services to customers. In addition, it transitions undervalued and underutilized aircraft to alternative configurations that are then used for more profitable special mission purposes. Tempus is headquartered in Williamsburg, Virginia.
Chart further announced that, in connection with entering into the Merger Agreement, it has terminated its previously announced transaction with Tempus Intermediate Holdings, LLC ("TIH"). Concurrent with the closing of the Business Combination, TIH will enter into an agreement with Tempus and Tempus Holdings not to compete in Tempus' business area for four years.
B. Scott Terry, founder and CEO of Tempus, who will serve as CEO of Tempus Holdings, stated: "Tempus has brought together a talented team of employees that has great experience addressing complex aviation-related mission requirements for governments and heads of state. We have been exploring ways to take advantage of market opportunities and are pleased to be working with Chart, which we believe will enable us to more rapidly address our near-term customer requirements in addition to expanding our marketing reach. We've received positive feedback from potential stakeholders about possibly increasing our capital base and we are excited about growing our business by building the additional relationships that public ownership allows."
Joseph R. Wright, Chairman and CEO of Chart, who will serve as Chairman of Tempus Holdings, stated: "Tempus provides complex communications, navigation and electronics solutions for special-mission governmental and commercial aircraft. We believe there are strong opportunities in this market, driven by regulatory changes that necessitate the upgrading of equipment in commercial aircraft and increased demand for both military and commercial aircraft with sophisticated mission capabilities. We believe Chart has unique market knowledge and relationships that will enable Tempus to achieve incremental growth. We look forward to working with Scott and his team as they grow a great company."
The total purchase price for Tempus will be up to $100 million (based on a $10.00 per share price for Chart common stock), subject to adjustments. Under the terms of the Merger Agreement, Tempus' members will receive 5.25 million shares of Tempus Holdings' common stock upon the closing of the Business Combination and may receive up to an additional 4.75 million shares upon Tempus Holdings' achievement of certain financial milestones, subject to adjustments as defined in the Merger Agreement. The cash currently held in Chart's trust account will be used to fund any redemptions by Chart's public stockholders and the payment of transaction fees and expenses. The remaining cash in the trust account will be used by Tempus Holdings as working capital. Tempus' senior management team will continue in their same positions after the Business Combination. Shares and warrants of Tempus Holdings are expected to list on the Nasdaq Capital Market under the symbols "TMPS" and "TMPSW", respectively. 
In connection with the Business Combination, Mr. Joseph R. Wright, Cowen Investments LLC and Chart Acquisition Group, LLC (collectively, the "Warrant Offerors") intend to offer to purchase up to 3,746,150 of Chart's warrants at a purchase price of $0.60 per warrant (the "Warrant Tender Offer").
The Business Combination is subject to the approval of Chart's stockholders, as well as other closing conditions. 
Cowen and Company, LLC acted as financial advisor to Chart and Ellenoff Grossman &amp; Schole LLP served as legal counsel to Chart. BB&amp;T Capital Markets acted as financial advisor to Tempus and Alston &amp; Bird LLP served as legal counsel to Tempus.

Press Releases

Chart Acquisition Corp Enters Into Agreement, Plan Of Merger With Tempus Applied Solutions

The following are the M&amp;A deals, rumors and chatter circulating on Wall Street for Wednesday July 16, 2014:
Time Warner Rejects $85/Share Bid from Fox
The Offer: Shares of Time Warner (NYSE: <a class="ticker" href="/stock/twx#NYSE">TWX</a>) surged to a high of $87.00 in the premarket Wednesday, on a report from CNBC, that it had rejected an offer of $85.00 per share from Twenty-First Century Fox (NASDAQ: <a class="ticker" href="/stock/foxa#NASDAQ">FOXA</a>). Time Warner confirmed the proposal of 1.531 of Twenty-First Century Fox Class A non-voting common shares and $32.42 in cash, per Time Warner share.
Time Warner's Board determined the offer was not in the best interests of Time Warner or its shareholders and decided not to pursue any discussions with Twenty-First Century Fox
Time Warner closed Wednesday at $83.13 a gain of 17%, while Twenty-First Century Fox shares lost 6%, to close at $33.00. 
Zillow Acquires Retsly, Terms Not Disclosed
The Deal: Zillow (NASDAQ: <a class="ticker" href="/stock/z#NASDAQ">Z</a>) announced Wednesday, it has acquired real estate software company Retsly. Terms of the deal were not disclosed.
Zillow closed Wednesday at $129.32, a gain of $0.28
Chart Acquisition Agrees to Business Combination With Tempus Jets Valued at $140M
The Deal: Chart Acquisition (NASDAQ: <a class="ticker" href="/stock/cacg#NASDAQ">CACG</a>) announced Wednesday, that it has agreed to complete a business combination transaction with Tempus Intermediate Holdings. A subsidiary of Chart will issue to the equity holders of Tempus, equity interests exchangeable for approximately 10 million shares of Chart's common stock and will assume liabilities of Tempus, for a total purchase price of $140 million.
Chart Acquisition shares closed Wednesday at $10.07, a gain of 1%.

Benzinga's M&A Chatter for Wednesday July 16, 2014

Chart Acquisition Corp. Reports Agreement to Combine with Tempus Jets, Combo Will Be Valued at $140M

Chart Acquisition Corp. Halted News Pending

ClearBridge Global Infrastructure Income Strategy Q1 2024 Portfolio Manager Commentary

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