UPDATE: Steak n Shake turning away from core business
The Steak n Shake Co. is taking a dramatic turn away from its core business with a bid to purchase a Michigan insurer in a
deal valued at almost $37 million.
Mergers & Acquisitions
Articles
BREAKING: Steak n Shake offers to acquire Michigan insurer
The Steak n Shake Co. has offered to acquire all of the outstanding shares of Fremont Michigan Insuracorp Inc. in a deal
that could be worth almost $37 million.
Fishers-based Buckaroo Marketing grows with acquisition
The firm founded in 1999 recently announced it bought Indianapolis-based Zent Consulting. Financial terms
of the deal were not disclosed.
UPDATE: Simon stock jumps on $2.3B acquisition
Adding the 22-mall portfolio of Baltimore-based Prime Outlets will give Simon a total of 63 outlet malls with more than 25
million square feet of space.
Simon buying Prime Outlets in $2.3B deal
Simon Property Group Inc. is doubling down on outlet malls with an agreement to buy Baltimore-based Prime Outlets, a
privately held firm that owns 22 of the giant properties.
Miller Pipeline purchases Illinois-based contractor
Indianapolis-based Miller Pipeline Corp. announced Monday morning that it has purchased Illinois-based Elcon Pipeline Inc.,
marking the company’s fifth acquisition in the past four years.
Revived Marsh Supermarkets goes up for sale
Florida-based Sun Capital has completed the turnaround of Marsh Supermarkets and now is seeking a buyer
for the home-grown chain. CEO Frank Lazaran told IBJ Sun will sell Marsh “when the market is right, financing
is right, and
someone is willing to pay a fair multiple.”
Grain Dealers finalizes affiliation with Florida firm
Indianapolis-based Grain Dealers Mutual Insurance Co., one of the largest property-casualty insurers in the state, has closed
on a deal to became part of The Main Street America Group, the Jacksonville, Fla.-based company said Tuesday morning.
Express Scripts closes $4.7B deal to buy WellPoint pharmacy unit
St. Louis-based Express Scripts Inc. has completed its $4.7 billion acquisition of WellPoint Inc.’s pharmacy benefits
management business, the company said Tuesday.
Biglari was persistent in pressing Western Sizzlin deal
Steak n Shake CEO Sardar Biglari proposed buying Western Sizzlin in January and again in May and advocated the unusual structure
of the $39 million transaction.
NatCity name to remain at local branches until early 2010
Pittsburgh-based PNC Financial Services Group Inc. has converted 240 former National City Bank branches to their new identity,
but the 77 Indianapolis-area locations will keep the old brand for a bit longer.
Chemical-maker Benchmark Products merges with Ohio’s New Surface Technologies
Benchmark Products Inc., a local manufacturer of metal-finishing chemicals, will combine with a Bedford, Ohio, company and
keep its headquarters and production in Indianapolis. The combined company will be renamed Asterion LLC.
Greensburg manufacturer sold, jobs moving to Oklahoma
The Autoquip Corp. has completed its acquisition of American Lifts in Greensburg and will be moving nearly 50 jobs to company headquarters in Guthrie, Okla.
Music Mill to reopen again under new owner
The Music Mill, a local concert venue, restaurant and bar that has been closed down twice this year by different operators,
has new life. Local entrepreneur Ravi Chopra, 44, who owns the 6 Lounge & Restaurant downtown, announced last
night that he has purchased the Music Mill and plans to reopen it Oct. 12.
Report: Ice Miller, Louisville firm end merger talks
Merger talks that began last year between local legal heavyweight Ice Miller LLP and a Louisville-based law firm reportedly
have broken down, putting an end to a deal that was expected to close by the end of the year.
Republic’s purchase of Frontier could mean more local jobs
Republic Airways Holdings Inc. is considering shifting as many as 250 jobs to its home base of Indianapolis as a result of
its pending acquisition of Frontier Airlines Holdings Inc. in Denver, according to a news report.
Frontier creditors approve reorganization plan
Frontier Airlines Holdings Inc. said yesterday that creditors have approved its bankruptcy reorganization plan, including
its planned purchase by Republic Airways.
Local contractor Enterprise acquires Freije
Indianapolis-based Enterprise Electrical & Mechanical Co. has acquired The Freije Company, a 50-year-old local firm that
specializes in refrigeration-systems design, installation and service.
First Farmers acquiring CB Bank Shares
Converse-based First Farmers Financial Corp. said this morning it has agreed to acquire CB Bank Shares Inc. in Russiaville.
Southwest bid for Frontier could be in trouble
Southwest Airlines Co.’s bid for Denver-based Frontier Airlines Holdings Inc. may have hit turbulence, according to the Dallas
Morning News.