TheRepublic.com - Ownership changes News

Nebraska company buys Spencer manufacturer

Mon, 20 May 2013 15:07:20 -0400

SPENCER, Iowa - A week after a northwest Iowa manufacturer shut down its factory, the laid-off workers were back on the job Monday thanks to a Nebraska company that stepped in and bought the business.

Yahoo takes big leap with $1.1B deal for Tumblr

Mon, 20 May 2013 14:01:06 -0400

SAN FRANCISCO - Yahoo is buying online blogging forum Tumblr for $1.1 billion as CEO Marissa Mayer tries to rejuvenate an Internet pioneer that had fallen behind the times.

PPG Industries closes on acquisition of Deft

Mon, 20 May 2013 10:14:22 -0400

PITTSBURGH - PPG Industries Inc., which makes paints and coatings for autos, aircraft and other industries, has completed its acquisition of specialty coatings company Deft Inc.

Chesapeake names Anadarko executive as new CEO

Mon, 20 May 2013 09:08:31 -0400

OKLAHOMA CITY - Chesapeake Energy has named Anadarko Petroleum executive Robert Douglas Lawler as its new CEO.

Websense agrees to be taken private for $905.9M

Mon, 20 May 2013 09:05:27 -0400

NEW YORK - Shares of Websense surged in premarket trading on Monday after the data security company agreed to be taken private for about $905.9 million.

Drugmaker Elan plans string of acquisitions

Mon, 20 May 2013 08:37:27 -0400

Elan Corp. PLC plans to pay about $338 million for a privately held, Austrian drug developer and at least $110 million for stakes in two other companies as the Irish drugmaker continues to refocus after unloading its main revenue source, an ownership stake in the multiple sclerosis drug Tysabri.

Slim, broadcasters take fight to soccer field

Sun, 19 May 2013 13:42:34 -0400

MEXICO CITY - Mexicans often feel that billionaire Carlos Slim owns everything in their country, from telephone and Internet companies to banks and chain stores, but his latest acquisitive foray is meeting resistance after touching a national passion: soccer.

Report: Yahoo nearing $1.1B acquisition of Tumblr

Fri, 17 May 2013 22:34:29 -0400

NEW YORK - Yahoo may be on the verge of closing its biggest acquisition during the 10-month reign of CEO Marissa Mayer as she tries to attract more traffic and advertisers to the Internet company's website and mobile applications.

Analyst says funding gap for LSU hospital deals

Fri, 17 May 2013 17:55:13 -0400

BATON ROUGE, Louisiana - The first three LSU hospital privatization deals appear to use up 94 percent of the funding Gov. Bobby Jindal's administration set aside for eight such arrangements, budget analysts told senators Friday.

Correction: Nuclear Plant Shutdown-NC story

Fri, 17 May 2013 16:42:48 -0400

RALEIGH, North Carolina - In a story May 16 about a shutdown at the Shearon Harris nuclear power plant, The Associated Press reported erroneously that the reactor vessel contains superheated steam. The vessel covers the nuclear core, which produces heat. The heat is converted to steam later in the process to produce electricity.

RV company's new owner plans N. Ind. plant closing

Fri, 17 May 2013 12:34:20 -0400

WAKARUSA, Indiana - The new owner of Monaco RV has announced plans to close its factory near South Bend that employs 520 people and move production work to another plant near Fort Wayne.

Bond sale to expand Gestamp plant in W.Va. OK'd

Fri, 17 May 2013 06:31:12 -0400

CHARLESTON, West Virginia - West Virginia officials are moving forward with a bond sale to help expand an auto parts stamping plant in South Charleston.

Ratings firm warns of economic slowdown in Russia

Thu, 16 May 2013 11:16:22 -0400

MOSCOW - Russia faces harsh times ahead for its economy unless the government improves the country's poor investment climate and implements long-delayed privatizations and reforms, U.S ratings agency Standard & Poor's has warned.

Telus signs deal to buy Mobilicity for $373M

Thu, 16 May 2013 10:40:33 -0400

TORONTO - Canadian telecom company Telus has signed a deal to buy small wireless company Mobilicity for $373 million (CA$380 million).

Retiring boomers driving sales of small businesses

Wed, 15 May 2013 15:07:19 -0400

NEW YORK - Baby boomers preparing for retirement are driving a surge in small business sales, as they find more and more buyers confident enough in the improving economy to expand their own businesses through acquisitions.

Pa. senator sees support to privatize wine, liquor

Tue, 14 May 2013 21:44:13 -0400

HARRISBURG, Pennsylvania - A second hearing in front of Pennsylvania state senators Tuesday on the liberalization of wine, beer and liquor laws appeared to solidify support for legislation that would allow private-sector sales of wine and liquor, but would not end every aspect of state control, as Gov. Tom Corbett has sought.

NJ man accused of selling rejected airplane parts

Tue, 14 May 2013 17:54:36 -0400

NEWARK, New Jersey - A New Jersey man has been charged with running a scheme to sell airplane parts that had been scrapped or rejected.

Louisville Water Co. to sell water to Hardin Co.

Tue, 14 May 2013 17:06:46 -0400

LOUISVILLE, Kentucky - Louisville Water Co. and Hardin County Water District No. 2 have reached an agreement for Louisville Water to supply supplemental drinking water to the region, which is experiencing growth.

Hedge fund boss Loeb lobbies for breakup of Sony

Tue, 14 May 2013 16:41:51 -0400

TOKYO - The U.S. hedge fund manager renowned for shaking up Yahoo Inc. has set his sights on Sony Corp., proposing that the Japanese electronics giant spin off up to 20 percent of its movie, TV and music division and use the money to strengthen its ailing device manufacturing unit. Sony rejected the plan, but analysts latched onto the idea as a way for Sony to unlock hidden value.

2 unions aim to share representation of AA workers

Tue, 14 May 2013 16:22:36 -0400

DALLAS - Two major unions are seeking to avoid a fight and instead share representation of ground workers at American Airlines after the company merges with US Airways.

Acquisitions slow Pan-American earnings

Tue, 14 May 2013 15:35:31 -0400

NEW ORLEANS - Charges tied to 2011 acquisitions of insurance operations in the Caribbean and in Latin America pushed Pan-American Life Insurance Group pre-tax earnings down 27 percent in 2012, though overall revenue continued to grow, the company says.

Drug manufacturer agrees to $500 million penalty

Mon, 13 May 2013 23:34:16 -0400

WASHINGTON - A subsidiary of India's largest pharmaceutical company has agreed to pay a record $500 million in fines and penalties for selling adulterated drugs and lying to federal regulators in a case that is part of an ongoing crackdown on the quality of generic drugs flowing into the U.S.

Audit: $42M in layoff costs for LSU privatization

Mon, 13 May 2013 20:23:11 -0400

BATON ROUGE, Louisiana - Gov. Bobby Jindal's push to privatize all but one of the LSU-run hospitals across south Louisiana will cost the state an estimated $42 million to make the layoffs, according to an audit released Monday.

Dell board committee seeks more info on Icahn plan

Mon, 13 May 2013 18:32:28 -0400

Dell board members say they need more details from investor Carl Icahn if he wants them to seriously consider his latest challenge to Michael Dell's $24.4 billion plan to take the computer maker private.

Theragenics gets sweetened bid from Juniper

Mon, 13 May 2013 13:27:10 -0400

BUFORD, Georgia - Medical device company Theragenics has received a sweetened buyout offer from Juniper Investment Co.