WellPoint to change corporate name back to Anthem
The name change will be completed by the end of the year, pending shareholder approval, the company said Tuesday.
Bloomberg News and IBJ Staff
Articles
Struggling hospital finds buyer, enters bankruptcy protection
Bloomington’s Monroe Hospital, which has had a close relationship with Indianapolis-based St. Vincent Health, filed for bankruptcy reorganization on Friday and plans to sell its business to a Canadian operator.
Dow Agro reports record second-quarter sales
Dow AgroSciences LLC posted sales of $1.9 billion in the second quarter, an increase of 3 percent over last year's second period, the Indianapolis-based company reported Wednesday morning.
Court nixes Obamacare subsidies for Indiana, 35 other states
The Obamacare tax credits that brought nearly $400 million to Indiana this year to help Hoosiers buy health insurance could go away after a federal appeals court ruled Tuesday they were illegal.
Steel Dynamics buying Mississippi plant for $1.6B
Fort Wayne-based Steel Dynamics said the plant it is buying from a company controlled by Russian billionaire Alexey Mordashov is one of the newest and most technologically advanced mini-mills in North America.
CNO upgraded by S&P after divesting insurance unit
CNO Financial Group Inc. was upgraded by Standard & Poor’s after the Carmel-based company completed the sale of a life insurance unit that was no longer issuing policies.
ITT Educational says access to student-loan funds in danger
Carmel-based ITT Educational Services Inc. said the U.S. Education Department may limit its access to student-loan funds because the company is unable to provide audited financial statements.
Lilly, Sanofi seek to sell erection drug Cialis without prescription
Sanofi will apply for approval of Cialis as an over-the-counter treatment in the United States, Europe, Canada and Australia. The drug garnered $2.16 billion in sales last year.
HDG Mansur affiliates file Chapter 11 to halt $5.8M judgment
The judgment in a New York court stems from allegations by a Sharia fund that the affiliates stole funds. HDG argued that it charged the additional fees to rectify a billing error.
Endocyte shares plunge 60 percent after drug trial is stopped
Endocyte Inc.’s stock fell more than 60 percent in early trading Friday after the drug it’s developing with Merck & Co.’s backing failed to help patients in a trial for ovarian cancer.
Comcast planning to exit central Indiana cable market
Stamford, Conn.-based Charter Communications said Monday that it has reached an agreement to take control of 3.9 million of Comcast’s customers under a plan that will create a new cable-TV company in most of Indiana, including Indianapolis.
Court approves $26M acquisition of Indiana Limestone
Indiana Limestone president Duffe Elkins said the business is expected to reopen and rehire workers after the new ownership takes charge.
Retailer Coldwater Creek going out of business
Coldwater Creek Inc., a 362-store women’s clothing chain that has four stores in Indianapolis-area malls, filed a Chapter 11 petition Friday to liquidate inventory in going-out-business sales to begin in time for Mother’s Day.
UPDATE: Simon Property wins dismissal of CEO pay suit
Simon Property Group won’t have to face a lawsuit alleging it improperly barred investors from voting on an executive-pay plan that resulted in a $120 million stock award to CEO David Simon. Public documents released Thursday show Simon made about $16 million last year.
Dow Agro CEO retiring as divesture speculation returns
Dow AgroSciences is getting a new chief, the company said Friday. Meanwhile, the CEO of parent company Dow Chemical says Dow Agro could be sold off in a year or two.
Indiana Limestone wins court approval for auction
The owner of Indiana Limestone Co. has received court approval to hold an April sale to see whether there are any better offers for virtually all its assets than the $26 million bid by lender Indiana Commercial Finance LLC.
Feds sue ITT Educational over loan practices
ITT Educational Services Inc. is being sued by the U.S. Consumer Financial Protection Bureau over allegations the for-profit college chain engaged in predatory lending by pushing students into loans likely to end in default.
Simon names spinoff Washington Prime Group, picks CEO
Simon Property Group Inc. has chosen the name for its planned spinoff of strip shopping centers and smaller enclosed malls, and hired Mark Ordan to be the new company’s CEO.