Insurance company rejects Steak n Shake takeover bid
A small Michigan insurer has rejected an acquisition bid from The Steak n Shake Co., describing the offer as a “hostile takeover
attempt.”
Cory Schouten
Articles
NEWSMAKER: Mel Simon was shopping mall pioneer
Mel Simon, who
died at 82 on Sept. 16, changed how America shops. He was chairman emeritus of locally
based Simon Property Group Inc., the nation’s largest owner of retail real estate.
Lauth Group leads slide in commercial real estate
The outlook for commercial real estate development continued to worsen in 2009, as one major name faltered and other companies
scrambled to redesign their business models and capitalize on the carnage.
UPDATE: Steak n Shake turning away from core business
The Steak n Shake Co. is taking a dramatic turn away from its core business with a bid to purchase a Michigan insurer in a
deal valued at almost $37 million.
Scotty’s is growing again, this time on Geist Reservoir
The popular local chain Scotty’s Brewhouse is planning a new outpost on Geist Reservoir.
BREAKING: Steak n Shake offers to acquire Michigan insurer
The Steak n Shake Co. has offered to acquire all of the outstanding shares of Fremont Michigan Insuracorp Inc. in a deal
that could be worth almost $37 million.
Prosecutor Brizzi a big player in real estate
Carl Brizzi partnered on a bank branch, took an ownership interest in an office building and flipped condos.
Brightpoint pays $31M for distribution facility
Locally based Brightpoint Inc. has closed on a $31 million deal to purchase its 495,000-square-foot distribution facility
in Plainfield.
Irish pub Fionn MacCool’s shuts down in Fishers
The Irish pub and restaurant Fionn MacCool’s has closed after a four-year run.
UPDATE: Steak n Shake plan makes ‘perfect sense’ to investment pro
The Steak n Shake Co.’s unusual plan to initiate a reverse stock split has the support of at least one local investment
adviser,
if in fact the company’s CEO is attempting to model it after Warren Buffett’s holding company, Berkshire Hathaway.
Steak n Shake plans 20-1 reverse stock split
The Steak n Shake Co., in an unusual gambit, plans to initiate a reverse stock split that would reduce its number of shares
outstanding from almost 29 million to just 1.4 million and boost its per-share price from roughly $12 to $240.
General Growth deal would extend Simon’s mall dominance
Wall Street analysts have described the potential sale of Chicago-based General Growth Properties as a “once-in-a-lifetime
opportunity” for a company to make “the deal of the decade” in the shopping-mall business.
Bella Vita taking over for Bertolini’s in Circle Centre
The Italian restaurant Bella Vita is poised to take the first-floor space in Circle Centre mall formerly occupied by Bertolini’s.
UPDATE: Simon stock jumps on $2.3B acquisition
Adding the 22-mall portfolio of Baltimore-based Prime Outlets will give Simon a total of 63 outlet malls with more than 25
million square feet of space.
Simon buying Prime Outlets in $2.3B deal
Simon Property Group Inc. is doubling down on outlet malls with an agreement to buy Baltimore-based Prime Outlets, a
privately held firm that owns 22 of the giant properties.
Bids pitch apartments, retail for former Fall Creek YMCA
Two bidders have submitted plans to redevelop the vacant former Fall Creek YMCA along West 10th Street with apartments and
retail space.
Revived Marsh Supermarkets goes up for sale
Florida-based Sun Capital has completed the turnaround of Marsh Supermarkets and now is seeking a buyer
for the home-grown chain. CEO Frank Lazaran told IBJ Sun will sell Marsh “when the market is right, financing
is right, and
someone is willing to pay a fair multiple.”
Mental health association buys Yellow Rose Inn
An elegant Old Northside mansion known as the Yellow Rose Inn has a new owner with plans to discontinue a bed-and-breakfast
operation.
Carmel buying 12 acres for new well field
The city of Carmel has agreed to buy about 12 acres adjacent to the Mansion at Oak Hill for a new well field.
Report: Simon considers sale of European properties
Simon Property Group Inc. may sell several of its properties in Europe to help raise funds for a possible bid for bankrupt
rival General Growth Properties.