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From Forbes | Northbrook-based Idex Corp., which produces pumps and metering products, announced on Thursday that it bought British company Seals Ltd. for about 35
million British pounds ($54 million). Seals, which is based in Blackburn, England, is a provider of seals for a broad range of
industries such as semiconductor and solar technologies.
Get the full story: forbes.com.
By Julie Johnsson |
United Airlines has resumed merger discussions with Continental Airlines
that were suspended two years ago after the Houston-based carrier’s
board opted to remain independent, said people with direct knowledge of
the talks.
Continental was drawn back to the merger table after learning last week,
via press reports, that Chicago-based United was also courting
Phoenix-based US Airways, said a source. The source declined to speak on
the record due to the sensitive nature of the discussions.
Tribune staff report | CF Industries Holdings Inc. said it has successfully completed its exchange offer for Terra Industries Inc. common stock and will complete the acquisition of Terra today.
United Airlines pilots and flight attendants picketing outside a board of directors meeting in 2009. (Alex Garcia/Chicago Tribune)
From Reuters | Airline industry analysts say that dissatisfied pilots, flight attendants and ground workers are a huge obstacle to the success of a merger between UAL Corp’s United Airlines and U.S. Airways. “If anyone thinks that sitting these groups down together and coming up with a single contract is going to be easy, they’re not reading the tea leaves,” Pat Friend, president of the Association of Flight Attendants, told Reuters. “I’m not even talking about what’s happening with the pilot groups — that’s another train wreck waiting to happen.”
Get the full story: reuters.com.
Dow Jones Newswires | Javelin Pharmaceuticals Inc. announced
plans to junk its $81 million takeover deal with rival drug developer
Myriad Pharmaceuticals Inc. after getting a $141 million offer from
Hospira Inc., which Javelin’s board has deemed as superior.
Javelin shares soared 63.4 percent, at $2.19 in recent trading, while
Hospira was down 3 cents at $56.22 and Myriad was inactive after closing
Friday at $4.53.
From Bloomberg News | Shares in General Growth Properties fell more than 6 percent in morning trading after a report that Simon Property Group may be stepping away from a bid for the nation’s second-largest mall operator.
Get the full story: dailyherald.com
By Becky Yerak | GreenChoice
Bank, an environmentally conscious lender that has been trying to get
off the ground in Chicago, plans to acquire the troubled Family Federal
Savings of Illinois, becoming the latest startup to buy an existing
institution rather than open its doors from scratch.
GreenChoice Holding Co. has filed an application with the Office of
Thrift Supervision for approval to acquire 100-year-old Family Federal,
recapitalize the institution and rebrand it as GreenChoice Bank.
Dow Jones Newswires-WSJ | Merger talks that came to light last
week between UAL Corp.’s United Airlines and US Airways Group Inc. have
become “very serious,” said one person close to the matter. But they
remain sensitive and it is just as likely the discussions will fall
apart as result in a done deal, this person noted.
Any
transaction would be an all-stock merger, with United being the
surviving entity, this person said. The share premium to be paid to US
Airways shareholders hasn’t been settled. Another person familiar with
the talks said the two sides haven’t yet agreed who would run the
combination.
Associated Press via Bloomberg | Walgreens is officially the largest drugstore operator in the U.S., now that the company has completed its $623 million buyout of the Duane Reade chain.
Get the full story: businessweek.com.
Associated Press | News that United Airlines and US Airways are in talks about combining was met with approval by shareholders and analysts Thursday. Shares of both companies rose in morning trading. US Airways gained 83 cents, or 12.2 percent, to $7.65, and United Airlines parent UAL Corp. rose $1.38, or 7.3 percent, to $20.33.
A United Airlines jet lands as US Airways jets prepare for flight at Los Angles International Airport in July 2008. The New York Times reported on April 7 that UAL Corp. and U.S. Airways were in the midst of merger negotiations. (David McNew/Getty Images)
By Hugo Martin and Julie Johnsson | Chicago-based United is pondering a merger with US Airways, the third time the companies have attempted to combine their businesses in the past decade and the kickoff to what could be a frenzied round of dealmaking among U.S. carriers.
Associated Press | The operator of Carl’s Jr. and Hardee’s restaurants says it may have received a better takeover offer than the one it already has from a private equity firm. CKE Restaurants Inc. said Wednesday that an unnamed party submitted a bid that may be superior to its current deal with Thomas H. Lee Partners, a Boston firm that’s among a trio of investment firms that bought Dunkin’ Brands Inc. in 2006.
Associated Press | Carmakers Renault SA, Nissan Motor Co. and
Daimler AG have entered a wide-ranging alliance to help each other gain
ground in the growing but fiercely competitive market for small,
fuel-efficient vehicles.
The partnership comes amid a painful industrywide slump and will focus
on sharing the development and production of chassis and engines. The
move will be sealed with a cross-shareholding giving the three
companies a small, symbolic stake in each other.
Associated Press | A cross-party committee of British lawmakers accused Kraft Foods
Inc. of acting “irresponsibly and unwisely” during its $17.5 billion
takeover of Cadbury.
In a highly critical report Tuesday, the Business Select Committee said the the deal would have long-term
implications for Britain’s takeover laws.
A man walks along a path in the grounds
of the Cadbury factory in Bristol, England which Kraft said it would
close. (AP Photo / Ben Birchall) >>
The months-long hostile battle by Kraft, based in Northfield to win the
195-year-old British chocolate maker dominated headlines in Britain,
where Cadbury is a much-loved brand, amid criticisms about the U.S.
company’s tactics.
From the Financial Times | Kraft Foods has asked about 3,600 people at British confectioner Cadbury Plc to choose between their present pension plan or possible pay increases.
Get the full story: ft.com.
