Lisle-based pharmacy benefit management firm SXC Health Solutions Corp. said Thursday it has agreed to buy specialty pharmacy provider MedfusionRx LLC for US$100 million. Get the full story »
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Groupon buys 3 Asia sites as part of shopping spree
Chicago-based Groupon has offices at 600 W. Chicago, pictured here on Nov. 30, 2010. (Phil Velasquez/Chicago Tribune)
Daily deal startup Groupon is on a shopping spree of its own, even amid feverish speculation that Google is on the verge of making a big offer for the Chicago company.
Groupon said late Tuesday it has bought three daily deal sites based in Asia, moving the company into Hong Kong, Singapore, the Philippines and Taiwan. Terms of the deals with uBuyiBuy, Beeconomic and Atlaspost were not disclosed. Groupon’s first foray into Asia was in August, when it acquired a Japanese rival. The company said it is now in 35 countries.
Closer to home, Groupon has acquired Ludic Labs, a Silicon Valley technology company, for an undisclosed amount. Groupon said Ludic Labs’ most well-known products are Offer Foundry, an advertising and promotional platform for local businesses, and Diddit, a Web-based community where members can browse through local activities and attractions. Ludic Labs and Groupon have both raised money from Accel Partners, a Silicon Valley venture capital firm. Get the full story »
Northern Trust scoops up investment firm serving rich
(Scott Olson/Getty Images)
On a day when one of its chief competitors announced 1,400 job cuts, Chicago-based Northern Trust Corp. said it has acquired Waterline Partners LLC, a Los Angeles investment advisory firm serving rich individuals and families.
Terms of the agreement weren’t disclosed. Northern’s stock was up about one percent in late-morning trading to $50.77 a share; the Dow Jones Industrial Average was up 1.8 percent.
“We are delighted to announce a strategic acquisition that will bolster both our West Coast presence as well as our capabilities for clients,” Northern Trust Chairman and Chief Executive Officer Frederick Waddell said. Get the full story »
Reports: Google to offer up to $6B for Groupon
Groupon CEO Andrew Mason with Mayor Richard Daley, Aug. 31, 2010. (Brian Cassella/ Chicago Tribune)
Google Inc. is reportedly closing in on a deal to buy online discount-coupon sensation Chciago-based Groupon for up to $6 billion in its largest-ever acquisition, signaling a willingness to use some of its huge cash hoard to buy growth.
A deal, reported by several media, would give Google an important window into a fast-growing $91 billion local advertising market.
But Google’s shares fell 4.5 percent, partly on concern it may shell out too much for a business likely to face increasing competition. Reports of the deal came as the European Union announced plans to investigate Google’s search practices. Get the full story »
Alberto Culver settles suit over takeover
Alberto Culver has agreed to settle a shareholder lawsuit over the beauty care company’s proposed $3.7 billion takeover by Unilever NV, lawyers for the investors said.
The settlement is designed to address concerns that the merger agreement might have dissuaded prospective competing acquirers from making better takeover bids, the shareholders’ lawyers said. Get the full story »
Shareholder sues to block J. Crew buyout
Bloomberg News | A J. Crew shareholder has sued the retailer and TPG Capital over a $3 billion plan to take the clothier private.
Abbott to merge India unit, Solvay Pharma
Abbott India on Wednesday agreed to merge Solvay Pharma into itself, combining two Indian units of U.S.-based Abbott Laboratories’ and sending Abbott India shares to a 52-week high.
Solvay Pharma said its shareholders would get three shares of Abbott India for every two held. Solvay Pharma shares fell more than 13 percent on the news. Get the full story »
Dynegy shareholders turn back Blackstone
Private equity firm Blackstone Group lost its $602 million bid to buy power producer Dynegy Inc. after failing to win shareholder support in the face of opposition from the two largest shareholders.
Dynegy said it planned to end the deal Tuesday and would look for other buyers, including the two shareholders — billionaire Carl Icahn and hedge fund Seneca Capital. Icahn has said he may bid for Dynegy if the Blackstone bid failed. Get the full story »
J. Crew to go private in $3B deal
J. Crew says it will be taken private in a deal with two investment firms, including its former parent, worth $3 billion.
The preppy retailer will receive $43.50 per share to private equity firms TPG Capital and Leonard Green & Partners, confirming media reports Monday. That is a 16 percent premium to the stock’s closing price of $37.65. Get the full story »
Franken asks Justice to look at Comcast/NBC deal
Sen. Al Franken, a critic of Comcast Corp.’s proposed deal for control of NBC Universal, asked the Justice Department Monday to investigate whether the giant cable company had engaged in “illegal collaboration” concerning its intended target.
Franken (D-Minn.) said that on Sept. 26 Comcast had named its chief operating officer, Steve Burke, as the prospective chief executive of NBC Universal. Last week, Comcast named several executives who would hold top jobs at NBC Universal after the cable company took control of the broadcaster and movie studio from General Electric Co. Get the full story »
Canadian deal to boost Tellabs in mobile Internet
Tellabs Inc. is acquiring a Canadian telecommunications equipment company to boost its research and development in mobile Internet technology.
Terms of the deal between Naperville-based Tellabs and Zeguma Systems Inc. of Richmond, British Columbia were not disclosed. Get the full story »
Ex-Chicago bankers pick up second failed bank
A bank investor group that includes turnaround financier Wilbur L. Ross Jr. and several former PrivateBancorp and MB Financial executives on Friday made its second purchase of a failed bank this year. Get the full story »
FTC clears R.R. Donnelley’s acquisition of Browne
R. R. Donnelley & Sons Co. said it has been told by the Federal Trade Commission that the agency’s investigation of the Chicago-based company’s proposed acquisition of Bowne & Co. has been closed and that it plans no further action.
The companies say they soon expect to complete the $481 million deal, which was announced in February.
Donnelley is a communications company founded 146 years ago. Based in New York, Bowne’s business lines include preparing and filing regulatory and shareholder communications online and in print.
byerak@tribune.com
