Boston, MA 03/17/2014 (wallstreetpr) – Management Network Group Inc (NASDAQ:TMNG) closed $4.39 Friday. The stock traded $2.54 to $4.42 in the range of low to high in the past year. The compensation committee of the company’s board of directors recently granted performance-based, but restricted common stock award of 20,000 shares to Susan M. Simmons, who is the company’s COO and leader of global delivery. This information was revealed by Management Network Group Inc (NASDAQ:TMNG) in a regulatory filing.
Summit Midstream Partners LP (NYSE:SMLP) shares were last seen trading down about 1.54 percent to $41.65 at 9:40 a.m. EDT, Monday 17. The shares traded between $25.29 and $43.02 in the past year. The company recently announced that its wholly-owned business, Grand River Gathering LLC, agreed to acquire the whole of equity interest in Red Rock Gathering Co. LLC. This acquisition will be done from Summit Investments which is a subsidiary of Midstream Partners LLC. The deal is worth $305 million and fits the description of what is called drop-down transaction. Although the acquisition amount is placed at $305 million, that amount can be adjusted in line with customary working capital modifications. The Red Rock equity acquisition is expected to be financed partially with a $110 million draw from revolving credit facility under SMLP. The remaining part is expected to get financing from proceeds generated through SMLP common units offering. Red Rock is involved in natural gas gathering as well as processing. Midstream Partners LP (NYSE:SMLP) said in the report announcing the drop-down deal that the transaction is expected to close on or about March 31.
Spirit Realty Capital, Inc (New) (NYSE:SRC) share are currently trading in the range of $11.14, down 2.54 percent as at 9:30 a.m. EDT. The shares have been traded in the range of $8.24 – $23.06 in the past year. In the Friday session, the shares advanced 5.44 percent to $11.43. The company announced quarterly revenue growth of 20 percent in the most recent quarter. Spirit Realty Capital, Inc (New) (NYSE:SRC) is involved in real estate investment with focus on essential real estate and single-tenant.
