Mergers and acquisitions have all but ground to a halt because of lack of credit, disparate expectations between buyers and
sellers, and hesitance on the part of buyers to deploy their capital.
Republic Airways Holdings says it has completed its acquisition of privately held Midwest Airlines
for $31 million in cash and debt.
Midland, Mich.-based Dow Chemical Co. is still considering divesting Indianapolis subsidiary Dow AgroSciences LLC. But
chances that the chemical manufacturing giant will sell its local agricultural chemical and biotech unit appear to have decreased.
Investors in a company built around clinical research software bought from Eli Lilly and Co. have found their exit, though
it’s far from the lucrative payoff they’d once imagined.
Two Indianapolis benefits consulting firms have finalized their merger, the companies announced this morning. Terms of the
deal between Benefit Associates Inc. and Benefit Consultants Inc., in the works since March, were not disclosed.
By purchasing two struggling airlines for which it flies, Republic Airways Holdings is taking aboard substantial risks that
threaten its profitable niche, analysts say. Frontier Airlines and Midwest Airlines are not only leaking money, but fly at
an altitude where major carriers routinely dogfight
in a fare war Republic hasn’t had to fight as a contract carrier.
National acquisition-and-merger rage among benefits firms continues as Gallagher swallows groups in Noblesville and Louisville.
Gallagher’s Carmel office grows its client portfolio to 300.
The city’s third-largest law firm is poised to tie the knot with Kentucky’s Greenebaum Doll & McDonald. But differences in the way the firms compensate partners are taking longer than expected to sort out.
Express Scripts Inc. has cleared an
antitrust review for its planned purchase of Indianapolis-based WellPoint
Inc.’s pharmacy benefits management business, bringing the $4.7 billion deal
closer to completion.
In a March 13 filing with the Securities and Exchange Commission, publicly traded White River revealed it’s postponed its merger with First Chicago Bancorp, and now is negotiating new terms.
Investors cheered this morning after WellPoint Inc. agreed to sell its pharmacy management unit to Express Scripts Inc., but
the fate of about 2,100 WellPoint employees now is up in the air.
WellPoint Inc. has
agreed to sell its pharmacy benefits management arm for $4.675 billion in cash and stock to St. Louis-based Express Scripts,
the companies announced April 13.
Benefits brokers and agents—facing increasing demands from employers and declining commissions—are merging at an
accelerating
pace.
Tim Durham is facing allegations of self-dealing after a publicly traded company he helps run in Dallas acquired assets from
a finance company he owns in Ohio.
PNC CEO James Rohr, 60, recently sat down with IBJ to discuss the merger between PNC
Financial Services Group Inc. and National City Corp., as well as the recession and PNC’s strategy.
The state’s two biggest pension funds are poised to combine into one Indiana Public Retirement System, with a single executive
director and board.
One of the largest independent survivors of the subprime debacle is staking its future on a real estate appraisal business based in Indianapolis.
Companies searching for a merger or acquisition partner had one heck of a time finding a match last year. Place much of the
blame on the credit crunch that rattled the nation’s economy and sent deal-making into a downward spiral.
After a 17-year run in Indianapolis, National City’s trademark green signs are set to be replaced with the blue of Pittsburgh-based
PNC Financial.
The recently announced mergers of Indianapolis law firms Sommer Barnard, Ice Miller and Locke Reynolds with firms outside
the state [reported in the Dec. 8 issue] mirror a larger national trend.
