Casino operator Centaur aims to exit bankruptcy much leaner
Centaur plans to sell a casino west of Denver and a stalled casino development near Pittsburgh.
Mergers & Acquisitions
Articles
Will third time be a charm for Emmis?
Emmis shareholders are set to vote again Friday night on taking the company private, but the proposal could be in jeopardy
if a deal is not reached
soon, says one investment expert.
AIG sells American General unit to Fortress at loss
American International Group Inc. has agreed to sell a majority stake in its Evansville-based consumer lending unit, getting
rid of an operation that posted about $1.7 billion in operating losses since 2008 and accumulated more than $17 billion in
debt.
Smulyan considering another option to take Emmis private
The communications company said in a news release that CEO Jeff Smulyan is continuing to negotiate with a group of preferred
shareholders
and is considering another buyout option that would not require their consent.
Emmis shares skid ahead of buyout vote
Opposition by preferred shareholders has Emmis shares trading at more than 30 percent below the buyout price of $2.40 per
share.
Judge hears arguments challenging Emmis sale
Common shareholders are challenging the proposed acquisition of the company by closely held JS Acquisition LLC, formed by
Emmis Chairman and CEO Jeffrey H. Smulyan in an effort to take it private.
Comcast’s pledge to NBC stations keeps Olympics, NFL off cable
Television station owners affiliated with NBC agreed to support Comcast Corp.’s purchase of NBC Universal after the
company pledged it won’t shift events such as the Olympics and U.S. football to cable, an executive said.
Home Loan Bank CEO dashes talk of impending merger
The recent chatter followed the bank board’s decision to award CEO Milton J. Miller II a severance agreement entitling him to extra pay in the event of a merger.
Duke Realty buying out joint venture partner for $298M
Duke Realty Corp. plans to buy out its partner in a joint venture that owns 106 industrial buildings in the Midwest and Southeast,
the Indianapolis-based company announced Wednesday.
Smulyan buyout plan could take Emmis full circle
The going-private deal he worked out—with New York-based Alden Global Capital—could result in another public offering
five years from now.
Hat World to acquire Sports Avenue stores
Locally based Hat World has agreed to acquire the assets of Sports Avenue, an Illinois-based competitor that operates 46 retail
stores and 13 branded e-commerce sites. Terms of the deal where not disclosed.
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.
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.