Lake Forest-based Wintrust Financial Corp., which operates 15 community banks in the Chicago and Milwaukee areas, said its mortgage unit has acquired certain assets and liabilities of River City Mortgage LLC. Get the full story »
Inside these posts: Acquisition
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EBay to buy GSI in $2.4 billion deal
EBay plans to buy e-commerce company GSI Commerce for $1.96 billion in cash in a bid to draw more buyers and sellers to its online marketplaces and win more business from large store chains. Get the full story »
Caterpillar to take a break from acquisitions
Caterpillar Inc. will likely take a break from acquisitions after reaching three large deals in the past year, executives at the world’s largest maker of heavy equipment said.
The company will be focused on closing its $7.6 billion takeover of mining equipment maker Bucyrus International, and then on integrating that new operation into the rest of its business, Chief Executive Doug Oberhelman said. Get the full story »
Motorola Mobility to acquire Swedish firm
Libertyville-based Motorola Mobility Inc. said Wednesday it plans to acquire a Swedish company specializing in software for Internet Protocol Television. Get the full story »
Harris Bank parent aims for five-fold profit jump
Bank of Montreal aims to more than quintuple annual earnings from its U.S. operations, following the $4.1 billion acquisition of U.S. lender Marshall & Ilsley. Get the full story »
Raymond James to buy brokerage Howe Barnes
Raymond James Financial Inc. said it has agreed to acquire brokerage firm Howe Barnes Hoefer & Arnett Inc., bolstering its booming private-client unit. Get the full story »
Nokia Siemens deal for Motorola business delayed
Nokia Siemens Networks’ acquisition of Motorola Inc.’s network infrastructure business has been pushed to the first quarter of 2011 because the deal still needs regulatory approval in China.
The $1.2 billion transaction between Schaumburg-based Motorola and Nokia Siemens Networks was announced in July and expected to close by the end of 2010. However, the Chinese Ministry of Commerce’s Anti-Monopoly Bureau has yet to approve it. Regulators in the U.S., European Union, Brazil, Japan, Russia, South Africa, Taiwan and Turkey have given the green light. Get the full story »
Unilever bid for Alberto Culver could be reviewed
From Bloomberg | Unilever’s $3.7 billion takeover of Melrose Park-based Alberto Culver Co. may be reviewed by U.K. antitrust regulators, who said in a statement that they are looking at whether the deal could trigger “a relevant merger situation” and whether it was likely to reduce competition.
Aon to bid $86 million for South Africa’s Glenrand
Aon Corp. will bid as much as $86 million to buy South African insurance firm Glenrand MIB Ltd., giving the world’s largest insurance broker a bigger presence in Africa’s top economy. Get the full story »
Chicago part of Barclays Wealth hiring push
Barclays Wealth, rapidly bulking up its U.S. business in the wake of the financial crisis, intends to accelerate its hiring efforts over the next two years.
The Barclays Plc. unit on Monday said it hired seven advisers with a combined $2.24 billion in client assets and who generated $17 million of revenue in the past year. The new investment representatives expand the London-based bank’s presence in Boston, New York, Atlanta and Chicago.
Barclay’s says it has hired 50 advisers in the Americas this year, giving it 250 representatives across the region. Get the full story »
Snyder’s shareholders vote on Lance acquisition
Shareholders of pretzel and snack food maker Snyder’s of Hanover Inc. are casting their ballots to approve the company’s acquisition by Lance Inc.
Privately held Snyder’s makes EatSmart products, Krunchers! and Grande tortilla chips. It expects the results of the vote to be announced later Friday. Get the full story »
Packaging giant Reynolds closes Pactiv acquisition
Reynolds Group Holdings Ltd., maker of aluminum foil and other packaging products, announced Tuesday that it has completed its acquisition of rival Pactiv Corp., paying shareholders $4.6 billion.
Potash: Shareholders need details on BHP plan
From Bloomberg | A lawyer for Potash Corp. of Saskatchewan Inc., the world’s biggest fertilizer company, say the company’s shareholders need more information about BHP Billiton Ltd.’s plans to acquire the company or to compete against it.
Exelon considers bid for troubled nuclear plant
Power utility Entergy Corp. said it was exploring the sale of its 605-megawatt nuclear plant in Vermont, months after the state Senate voted to shut it in 2012 due to pollution issues.
Vermont politics could, however, complicate any potential sale. Earlier this year, the state Senate voted overwhelmingly to shut the reactor and the person heading that effort is now the unofficial Governor-elect Peter Shumlin, a Democrat.
Analyst Brian Chin said the likely bidders could include other nuclear operators like Exelon Corp., NextEra Energy Inc. and Constellation Energy Group Inc. Get the full story »
Lake Forest investor acquires software company
A Lake Forest shell company has agreed to acquire a Cogility Software Corp. that will allow the privately held software company to become publicly traded.
Acquired Sales Corp., which is controlled by Lake Forest investor Gerard Jacobs, plans to acquire Cogility, based in San Jose, in a stock transaction. Terms of the deal were not disclosed. Closing of the deal is contingent on several conditions, including the completion of a 1-for-20 reverse split of Acquired Sales’ stock. Get the full story »
