CEO Smulyan gets OK to take Emmis private
Emmis Communications Corp. agreed to be acquired for about $90 million by closely held JS Acquisition LLC, a company formed
by Emmis CEO Jeff Smulyan.
Mergers & Acquisitions
Articles
Feds: AMC must sell some Indy theaters to make acquisition
The U.S. Justice Department said AMC Entertainment Group Inc., the second-largest U.S. movie theater owner, must sell some
cinemas to proceed with plans to buy most of those operated by Kerasotes Showplace Theatres.
Timmy Foundation to absorb doctor’s Nigerian mission
The foundation, founded by Dr. Chuck Dietzen, will absorb the Mercy Foundation, started by Dr. Mercy Obeime, in July.
Resurgent Finish Line eyes plan for cash hoard
Finish Line Inc. is working to deploy the money it has built up through cost-cutting. The 684-store
chain plans to reinvest in its core business, return cash to shareholders through higher dividends and share repurchases,
and diversify its business.
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.
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.
Simon withdraws bid for General Growth
Indianapolis-based Simon Property Group Inc. has withdrawn its offer for General Growth Properties Inc. after a bankruptcy
court judge approved a sale process that gives an advantage to a group lead by rival bidder Brookfield Asset Management Inc.
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.
General Growth hearing delayed to weigh bids
General Growth Properties Inc., the second-biggest U.S. mall owner, said a bankruptcy court hearing on its auction process
will be delayed five days to give the company time to consider competing bids, including one from Indianapolis-based Simon
Property Group.
Local Scholars Inn sold, to reopen under new name
The Mass Ave. restaurant is set to become Mesh, which will feature a more casual atmosphere and menu, as well as a new operator who will
lease the space
from the building’s owners.
Midwest Airlines name dropped in favor of Frontier
Indianapolis-based Republic Airways Holdings Inc., owns both Midwest Airlines and Frontier Airlines, says it will begin using
the Frontier name for the operations of both carriers.
Report: Simon may drop General Growth bid
Shares in General Growth Properties Inc., the second-biggest U.S. mall owner, fell as much as 6.7 percent Monday morning after
a newsletter report that Simon Property Group Inc. may abandon a takeover bid for its smaller rival.
Simon, rival seek foreign investors to back General Growth bid
Indianapolis-based Simon Property Group and its chief rival in the battle to acquire bankrupt shopping mall operator General
Growth Properties Inc. are seeking funding from sovereign wealth funds in the Middle East and Asia, according to the Financial
Times of London.
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.
Bankruptcy court gives General Growth more time
Shopping mall operator General Growth Properties Inc. will have four more months to sort out its exit from Chapter 11 bankruptcy
and weigh buyout offers–including a $10 billion bid from Indianapolis-based Simon Property Group Inc.
Creditors: General Growth biased toward Brookfield proposal
General Growth Properties Inc. may favor a risky bid from Brookfield Asset Management Inc. because of that company’s
agreement with William Ackman’s Pershing Square Capital Management LP, creditors said in court documents. Simon Property
Group also has bid to acquire the bankrupt company.
General Growth sets timeline for reorganization, plans IPO
General Growth, the bankrupt takeover target of Simon Property Group, aims to confirm a reorganization plan by Oct. 5. In addition, it said it will launch an initial public offering on Friday.
PNC-National City conversion ahead of schedule
The PNC Financial Services Group said Monday it has brought in 2.8 million former National City Bank customers and converted
560 branches since a $5.6 billion buyout less than two years ago. Branches in Indiana are set to switch over in June.
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
Moongate Technologies acquired by Michigan firm
Local computer consultant will become part of Dewpoint Inc., upon completion of the acquisition, and will move to Dewpoint’s Carmel
office,
which already has about a dozen employees.