Private water, sewer utilities propose sale to Cumberland
Gem Utilities Inc. and Gem Water Inc. have offered their sewer and water operations to the town of Cumberland for $6 million.
Deals
Articles
Apartment sellers testing market again
Several apartment properties are back on the market as owners try to appeal to private investors looking for deals before higher interest rates and inflation dampen their enthusiasm.
Simon shares surge despite failed General Growth deal
Simon’s rise suggested investors believe the company will be just fine without General Growth Properties Inc., the Chicago-based
rival it had been pursuing for months.
Biglari Holdings targets auto-parts chain
The parent company of Steak n Shake restaurants is angling to acquire a huge stake in the Advance Auto Parts chain.
Emmis finds loophole for board on Smulyan buyout
State law normally requires board approval for buyouts. But the language cited in the letter of intent provides an exception
for conflicts of interest or special circumstances.
UPDATE: Emmis takeover deal unlikely to hit turbulence
A big Emmis Communications Corp. shareholder believes the $90 million deal CEO Jeff Smulyan unveiled Monday morning to
take the company private is unlikely to get derailed—even though it’s worth far less than a takeover offer Smulyan
failed to get through his board four years ago.
Emmis chief looks to take company private
JS Acquisition Inc., the company Emmis CEO Jeff Smulyan has established to complete the acquisition, would purchase all shares
of publicly traded Emmis for about $90 million, according to Monday morning’s announcement.
Lilly buys right to underarm lotion for low sex drive
Eli Lilly & Co., the maker of the impotence pill Cialis, bought exclusive rights from Australia’s Acrux Ltd. to
an underarm testosterone lotion called Axiron for men with limited sex drive due to low levels of the hormone.
Simon Property CEO uses hard-nosed style to excel at acquisitions
David Simon, the shrewd and blunt deal-maker—an acquisitive former Wall Street wunderkind who transformed Simon Property
Group Inc. into the nation’s largest mall owner—is trying to land his biggest deal yet.
General Growth plans to split in two to exit bankruptcy
General Growth Properties Inc. plans to split in two to exit bankrupty and will receive $2.63 billion in capital from Brookfield
Asset Management Inc
Simon’s $10 billion bid for bankrupt General Growth roils retailing
Simon Property Group Inc. already is known for playing hardball with mall tenants over rent. So national retailers like The
Gap Inc. and Limited Brands Inc. will be bracing for future lease negotiations if the nation’s largest mall owner succeeds
in a $10 billion bid to take over its nearest rival, the bankrupt General Growth Properties Inc.
General Growth snubs initial offer from rival Simon
Simon Property Group Inc. will have to wait in line with other potential bidders and raise its offer if it wants to land bankrupt
rival General Growth Properties Inc., the Chicago-based company said in a letter late Tuesday.
Simon making $10B bet on future of malls
Wall Street today is cheering Simon Property Group Inc.’s giant bet on the future of retail real estate, a sector that
appeared left for dead just months ago. The nation’s largest mall owner has offered $10 billion to take over its
nearest rival, Chicago-based General Growth Properties Inc., which is in bankruptcy.
Simon offers $10 billion for General Growth
Deal to acquire competitor would be largest ever for Simon Property Group, already the nation’s largest mall operator.
Enzon Pharmaceuticals sells Indy drug plant; 100 local jobs safe
New Jersey-based Enzon Pharmaceuticals Inc. has sold its Indianapolis plant that manufactures specialty drugs in a deal that
could top $300 million. The buyer says that the operations, which employ about 100, will remain in the city.
St. Vincent to buy Care Group, city’s largest cardiology practice
St. Vincent Health is near an agreement to take over The Care Group LLC, the city’s largest independent physician practice
and largest cardiology group in the nation.
Grocery distributor buys convenience store supplier
An Indianapolis-based grocery wholesaler has purchased the assets of a convenience store supplier in Danville, enabling it
to expand its number of customers to 800 in five states.
Additional deals that didn’t make the mergers-and-acquisitions list
These deals had no price tag, but still were significant.
Indianapolis deals in 2009 ranged from $4.6 billion to $70
WellPoint’s sale of its NextRx unit was the largest deal in the Indianapolis area in 2009.
Merger-and-acquisition activity expected to warm in the Indianapolis area
Pent-up demand, anticipated thaw in financing might cause business valuations to rise modestly