Summer is often a busy time. Between your kids being out of school, family vacations, pool parties, college visits, sports games and weddings, there is likely a fun filled schedule for you and your family. Yet, the Rochester business community has been busy too, and it's not even July 1st!

Two Major Highlights:

A merger was announced: Lone Star Funds and Home Properties for approx. $7.6 billion. Home Properties shareholders will receive $75.23 per share in cash for outstanding common stock, a reported 9% premium over the closing stock price on April 24th, 2015, the day before the media reported a potential transaction. Home Properties, a locally headquartered firm, has successfully grown in value over the past 20 years in the multifamily rental housing sector. This merger provides shareholders the opportunity to realize long term gains.

Gannett splits into two companies- a new Gannett and Tegna. The new Gannett Co. Inc. will focus solely on newspapers while Tegna will specialize in broadcasting. Our Chairman, George Conboy, explains that shareholders will keep their shares of Gannett (now Tegna) and also get one share of the new Gannett Co. stock for every two Tegna shares. When compared to the last 12 months, the combined dividend for each of the new companies will be approx. 10 percent more if shareholders stay the course over the next 12 months.

Couple these announcements with the Xerox Rochester International Jazz Festival and we all have been quite busy. What we can learn from this is that change is constant and with change comes opportunity. As an investor, working with an advisor can help you to reap the benefits of change when it occurs and never forget that local companies may provide unique opportunities for growth.

Caroline Hill, Financial Advisor


(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).