Stock Information: United Continental (NYSE:UAL)

In a regulatory filing, United Continental (NYSE:UAL), said the company and certain of its executive officers and employees have received federal grand jury subpoenas requesting records and testimony related to certain individuals formerly associated with the Port Authority of New York and New Jersey and related operations of the company and the company is conducting an internal investigation in response. The company is cooperating with the government’s investigation.

 

Gabelli slightly reduces stake in Biglari (NYSE:BH). Gabelli sent a letter to the CEO of Biglari (NYSE:BH) , stating that it would support Biglari's incumbents at the upcoming annual meeting of shareholders if the Lion Fund shares abstained from voting. If the Lion Fund shares did not abstain and are directed to vote for the incumbents, Gabelli "will look more favorably upon the slate of directors intended to be nominated by The Groveland Group." Gabelli has reduced its stake in Biglari to 9.54% from 9.69%.

 

$207M conditional special cash dividend from Engility (EGL:NYSE) upon mergers closing. Engility Holdings(EGL:NYSE)  has declared a special cash dividend to closing its pending business combination with TASC (conditioned upon the satisfaction or waiver of all conditions). This special cash dividend will be in an aggregate amount of approximately $207M, with the per share amount of the special cash dividend to be determined based on Engility’s fully diluted share count immediately prior to closing. It is currently anticipated that the per share amount of the special cash dividend will be approximately $11.46. The special cash dividend will be payable in cash to Engility shareholders of record as of the close of business on the last business day immediately prior to the effective date of the proposed mergers. In order to receive the special cash dividend, Engility shareholders must hold their shares of Engility common stock through the date of the closing of the mergers.