Fishers-based Arrive AI files paperwork to go public
Arrive AI, which has developed a “smart mailbox” system for human and drone deliveries, intends to go public via a direct listing on the Nasdaq Global Market.
Public Companies
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Emmis Corp. to make another attempt to go private
Emmis Corp. CEO Jeff Smulyan says he believes his fourth pitch to take the Indianapolis-based media company private will be successful.
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IBJ Media’s inaugural list of influential Hoosiers includes CEOs, entrepreneurs, philanthropists
The list, available at Indiana250.com, was compiled by the executives, editors and newsroom staffs at IBJ Media’s three news brands—Indianapolis Business Journal, Inside INdiana Business and Indiana Lawyer—after a monthslong process that included reviewing nominations, researching Indiana organizations and interviewing community leaders across the state.
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First Internet Bank’s acquisition deal with Georgia bank terminated
First Internet announced in November that it planned to acquire Georgia-based First Century Bank for about $80 million. But when it became necessary to extend the closing date, the parties couldn’t agree on extension terms.
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Allegion to acquire Stanley Black & Decker business for $900M
Security-products company Allegion, which has about 1,300 employees at its Americas headquarters in Carmel, expects to close the largest deal in its history in the third quarter.
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Articles
Indiana-based Berry Global acquired by Swiss packaging giant in $8.4B deal
Amcor, the acquirer, said the deal “brings together two highly complementary businesses to create a global leader in consumer packaging solutions.” Berry is one of the state’s largest public companies.
Indianapolis tech startup Arrive calls off planned merger
Smart-mailbox startup Arrive AI, which in December announced plans to merge with Canada-based Brüush Oral Care Inc. and become a public company, says it has called off the deal.
All eyes are on Nvidia’s stock, so what’s been going on?
Early last week, Nvidia overtook Microsoft as Wall Street’s most valuable public company. Then it fell 13% over three days, its worst such stretch since 2022.
Elanco reaches agreement with activist investor, avoiding messy proxy fight
The Greenfield-based maker of animal vaccines, antibiotics and other health products said that as part of the agreement with Ancora Holding Inc., it will appoint two new independent directors supported by the investment firm to its board.
Elanco to cut 420 jobs in restructuring that will focus on pet health
The company said the restructuring is designed to shift resources from its farm animal operations to its pet health operations and help with the launch of three upcoming products now under regulatory review.
Andretti SPAC’s shareholders to vote on proposed merger with AI firm
If Andretti Acquisition Corp.’s shareholders approve the merger, the deal is expected to close shortly after the vote, and shares of the combined company will begin trading on the New York Stock Exchange.
Struggling Alpine 4 jettisons subsidiaries
Alpine 4 Holdings Inc., whose subsidiaries include Indianapolis-based RCA Commercial Electronics, says it is struggling “with unparalleled challenges.”
Companies grew more confident about initial public offerings in 2023
The signs of life shown by the IPO market, especially in the second half of the year, are giving analysts hope that more companies will be enticed to go public in 2024.
Indianapolis tech startup Arrive to go public via merger
Indianapolis-based Arrive, which did business as DroneDek until a rebranding earlier this year, offers smart mailboxes for package delivery.
OpenLane plans to expand Canadian presence with $95M acquisition
Carmel-based OpenLane announced Monday that it plans to acquire Manheim Canada from Atlanta-based Cox Automotive in a $95 million deal that’s expected to close within 30 days.
Workers’ well-being tops agenda at annual shareholder meetings
From Amazon.com to Walmart, investors have filed more than 140 shareholder resolutions this year, pressing companies to address employee-related issues ranging from paid leave and health and safety to abortion access, benefits and labor rights.
2022 Year in Review: Prologis acquires Duke
The acquisition of one of Indianapolis’ largest public companies came after months-long negotiations between Duke and San Francisco-based Prologis and broadens the firm’s logistics and industrial holdings in key locations, including Southern California, New Jersey, South Florida, Chicago, Dallas and Atlanta.
Great SPAC crash of 2022 deepens as investors cash out in droves
At least 80 special-purpose acquisition companies, which have raised $24 billion in total, face a wall of investor meetings that will give clients the chance to exit ahead of a new U.S. tax that could hurt their returns.
Elevance, Cummins CEOs named to ‘Most Powerful Women’ list
CVS Health Corp. CEO Karen Lynch topped the list for the second consecutive year, followed by Accenture CEO Julie Sweet and Citigroup Inc. CEO Jane Fraser.
Indianapolis biotech trying to fight cancer navigates bumpy road
Point Biopharma is moving aggressively to get its lead drug, a radioactive isotope called lutetium 177, through late-stage trials for prostate cancer.
Wall Street expects inflation squeeze on 2Q earnings
Inflation tightened its grip on businesses and consumers during the second quarter and investors expect to see a dent in the latest round of corporate earnings.
Fishers-based ‘blank check’ company finds acquisition target
Fishers-based American Acquisition Opportunity Inc. says it has entered into a merger agreement with Royalty Management Corp. in an all-stock deal that values Royalty Management at $111 million. The merger will create a new Fisher-based public company.
Indiana stocks fare better than most this year
At the close of trading June 24, Bloomberg’s Indiana Index was trading at $375.30, up 0.55% from the beginning of the year. The S&P 500 was down 18.45% and the tech-heavy Nasdaq was down 26.59%.
Pay for CEOs at big public companies rose 17% in 2021 as profits soared
Last year’s leap for median pay of S&P 500 CEOs was the biggest since a 23.9% surge for 2010 compensation packages, according to the data analyzed by Equilar.