Express Scripts to buy Medco for $29.1B in cash, stock
Express Scripts Inc. agreed to buy Medco Health Solutions Inc. for $29.1 billion to become the largest pharmacy-benefits manager in the United States. Both have central Indiana operations.
Mergers & Acquisitions
Articles
Merger of key airlines at Indianapolis grounds three flights
It’s more difficult to get to New York LaGuardia and some other business hubs following the combination of Southwest Airlines and AirTran Airways.
Stanley Black & Decker keys in on overseas security market
The Connecticut-based company on Monday agreed to buy Sweden’s Niscayah Group AB for $1.2 billion—its biggest deal since Stanley Works’ $4.4 billion purchase of Black & Decker Corp.
Troubled economy fueling hospital deals
Battered by stagnant population growth and blue-collar job loss, Howard Regional Health is merging with Indiana University Health—a deal that reflects the challenges faced by hospitals in Indiana’s outlying cities.
Pilots OK cuts, allowing Republic to pursue restructuring plan
Frontier Airlines pilots overwhelmingly approved concessions that will allow parent Republic Airways Holdings Inc. to pursue a $120 million restructuring at the unprofitable unit. Indianapolis-based Republic bought Frontier out of bankruptcy in 2009.
IU Health strikes deal with Central Indiana Cancer Centers
Central Indiana Cancer Centers sold its five facilities to IU Health and transferred its 150 employees to the Indianapolis-based hospital system. The 16 physicians in the practice will remain independent, but they have signed a service agreement with IU Health that pulls the two entities into a tight embrace.
Republic pins Frontier Airlines’ fate to pilot vote on savings
Republic Airways Holdings Inc. is counting on pilots approving concessions to kick-start a $120 million restructuring plan at its Frontier Airlines unit, 20 months after buying the carrier out of bankruptcy.
Local motorsports supplier acquiring safety gear vendor
Atlanta-based Racer Wholesale has helped build national recognition for G-Force Racing Gear, which supplies racers with helmets, driving suits, gloves, shoes and other safety gear.
WellPoint paying almost $800M for CareMore
Indianapolis-based WellPoint Inc. agreed to acquire CareMore Health Group to expand Medicare coverage in California, Arizona and Nevada. The insurer paid almost $800 million, according to people familiar with the deal.
Sleepy Klipsch buyer out to make some noise
Audiovox Corp., the Hauppauge, N.Y.-based company that recently bought the high-end audio firm Klipsch Group, hopes to use the $167 million deal to win over Wall Street.
Franciscan Alliance takes control of VNS home health agency
Visiting Nurse Service Inc., a 200-employee agency based in Indianapolis, will operate under the umbrella of Franciscan St. Francis Health, the organizations announced Thursday.
Law firm towers after acquisitions
Barnes & Thornburg's entrance into the Los Angeles market earlier this year capped off a string of office openings that vaulted it into an elite national player.
Citizens Energy agrees to document utility savings
A not-for-profit public trust that wants to buy Indianapolis' water and sewer utilities has agreed to document all of the savings it says the $1.9 billion deal would create. State regulators still must approve the transaction.
Herff Jones sells photography division
Indianapolis-based class ring and yearbook maker Herff Jones will sell its photography division to Lifetouch Inc., the company announced Monday.
High-end home audio gear will be made in Indiana
A team of former Klipsch Group engineers has spent the two years trying to infuse high-end home audio equipment with the all-in-one sophistication of a smartphone.
Drugmakers call off animal-health deal, possible asset sale
Drugmakers Merck & Co. and Sanofi-Aventis SA have abandoned plans to combine their animal-health businesses after wrestling with regulators for a year over potential divestitures.
Indianapolis-based Eli Lilly and Co. was among a list of possible suitors for about $1 billion in assets the two companies considered selling.
Lilly agrees to buy European animal health company
Elanco, the animal health division of Eli Lilly and Co., has agreed to acquire Jannsen Animal Health, a subsidiary of New Jersey-based Johnson & Johnson, pending regulatory approval. Financial terms of the deal were not disclosed.
Midway Produce acquired by U.S. Foodservice
Founded in 1999, Indianapolis-based Midway Produce mostly distributes produce to restaurants, health care facilities and schools throughout central Indiana.
Southern Indiana newspapers to merge by March 1
Publishers of the Evening News of Jeffersonville and the New Albany Tribune announced Wednesday that both organizations will be consolidated into one paper called the Evening News and Tribune starting March 1.
Old National-Monroe merger costing 59 jobs
Almost 60 employees of Old National Bank and Monroe Bank are losing their jobs as the financial institutions combine their operations.