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Will the United - Continental Merger Raise Airfares
Ben Baden
If regulators approve the merger of United Airlines and Continental Airlines, it will create the world's largest carrier. Although it's early, many experts agree that there will probably be a push for higher fares.
Continental - United Airlines Merger: the Consumer View
Ed Perkins
By now you've seen the news that Continental and United airlines have agreed to merge. This isn't a done deal yet as this merger will get a close look by the Departments of Justice and Transportation, and anti-trust concerns could derail it. But most industry mavens believe the climate is right for this merger. And, I'd bet that the fallout for consumers will be more negative than positive
Mergers and Acquisitions Perking Up Again
Andrew Leckey
Whether or not you're personally convinced that the recession is just about over, those in the big-buck mergers-and-acquisitions game are believers. 'It's all a sign you can't keep a good capitalist down and eventually greed will overcome fear,' said James Paulsen, chief investment officer for Wells Capital Management, Minneapolis. People are saying, 'Gee, not only are we not going to have a depression, but it looks like we're actually going to have a recovery.'
Further reading
Elsewhere on Friday,- Ben Bernanke’s Labor Day reading list.- Roubini’s new odds on a double-dip recession.- When bankers are more dangerous than warlords…...
CD&R to buy Univar stake from CVC
Clayton Dubilier & Rice is to buy a 42.5% stake in Univar, the chemicals distribution group, in a deal valuing the company at $4.2bn, reports the FT. The US buy-out group is...
Eldorado bids $3.2bn for Andean
Eldorado Gold, Canada’s fifth- largest gold producer, offered C$3.4bn ($3.2bn) in stock for Australia’s Andean Resources, which countered that it was in talks for a rival transaction,...
Burger King approves 3G’s bid
Burger King is set to be taken private for the second time in its history, after the board of the US fast-food chain accepted a $3.25bn bid from 3G Capital, a US investment group...
HP wins 3Par after Dell concedes
Hewlett-Packard won the battle for US data storage company 3Par on Thursday after rival PC maker Dell balked at raising its offer yet again, the FT reports. 3Par accepted HP’s...
HP to buy 3Par as Dell pulls out of race
Hewlett-Packard looked set to win the bidding battle for data storage company 3Par after rival PC maker Dell balked at raising its offer yet again, the FT reports. The world’s...
A brief look back at a weird August
We think a few points are worth highlighting from the M&A and capital markets snapshots just released by Thomson Reuters.First, after an extraordinary first half of the month,...
More intrigue in the wonderful world of potash
An even bigger week than usual for potash-related deals and developments with Russia — undoubtedly spurred to new competitive heights by BHP’s hostile $38.6bn bid for...
The Cult of Equity is dead. Long live bonds
If Citigroup's global equity strategist was at all still prevaricating on which side to take in the bond-stock decoupling conundrum, he's firmly made up his mind now, says FT Alphaville....
Further reading
Elsewhere on Thursday,- The Chinese-hedging-gone-awry theory of Treasuries.- Hard days ahead for hedge funds.- The economic narrative.- Why America isn’t working....
Snap news
Breaking pre-market news on Thursday,- Spice and Cinven in advanced discussions over a 70p a share cash offer – statement.- Esprit H2 net profit down 19 per cent –...
Tesco bids for Carrefour Asia assets
The first round of Carrefour’s auction of its southeast Asian assets drew a pack of more than 10 bidders on Tuesday night, reports the FT. Tesco, the world’s third-largest supermarket chain,...
SEC in insider case over AstraZeneca
The SEC on Wednesday charged a former hedge fund manager with making a $14m profit based on inside information ahead of a takeover in 2007, reports the FT. Stephen Goldfield profited...
Sinochem hires HSBC on Potash
China’s Sinochem has hired HSBC to advise it on its options regarding PotashCorp of Saskatchewan, the target of a $38.6bn hostile bid from BHP Billiton, reports DealJournal....
Burger King in talks with hedge fund
Burger King is in talks with 3G Capital, a little-known US investment fund, about a deal that could see the US burger chain return to private ownership for the second time in a decade,...
The Tui deal less travelled
Tui Travel is one the biggest risers in the FTSE 100 on Wednesday morning.The reason is reheated rumourtrage that parent company Tui is considering bidding for the 45 per cent...
Morgan Stanley’s Chinese irony
Morgan Stanley’s word of the week in China has to be “irony”, as news emerged late on Tuesday that the US Federal Reserve has given the go-ahead for China Investment Corp,...
Further reading
Elsewhere on Wednesday,- What is wrong with JPMorgan?- Why are women leaving Wall Street?- Equities: the shift from active to passive.- Roubini sentiment indicator (yes,...
Snap news
Breaking pre-market news on Wednesday,- China may probe BHP’s bid for Potash, China Business News reports – Via Reuters.- Vivendi H1 sales up 6 per cent , adjusted...
Candover to call it a day
Candover, the UK buy-out group, on Tuesday sealed its fate as one of the biggest private equity victims of the financial crisis, announcing plans to wind itself up by returning...
Tomkins wins takeover vote
A proposed £2.9bn ($4.5bn) takeover offer for Tomkins, the UK-listed automotive and industrial parts maker, on Tuesday gained backing from more than 90% of shareholders, despite...
PotashCorp says BHP ‘unethical’
The hostilities between PotashCorp and its suitor BHP Billiton intensified on Tuesday when the Canadian fertiliser producer accused the world’s biggest miner of “highly...
HSBC sells US unit to Santander
HSBC on Tuesday announced the sale of a portfolio of US car loans to Santander of Spain, for about $4bn in cash and assumed debt, reports the FT. The deal marks a further reduction...
German banks eye capital raisings
Deutsche Bank and Commerzbank may have to raise billions of euros in capital as Germany’s two biggest banks confront decisions over long-awaited transactions, reports the FT....
Genzyme chief seeks higher offer
Genzyme’s chief executive on Monday said he was open to selling the US biotech company at a “fair value” but that the $69-a-share offer from French group Sanofi- Aventis was not enough,...
Taipei blocks sale of AIG unit
Taiwan’s regulators on Tuesday blocked AIG’s sale of Nan Shan Life, its Taiwan life assurance unit, to a Hong Kong-based consortium for $2.15bn after months of uncertainty,...
PotashCorp calls BHP’s behaviour unethical
The hostilities between PotashCorp and its suitor BHP Billiton escalated on Tuesday when the Canadian fertiliser producer accused the multinational miner of “highly unethical” behaviour,...
Hunger for Genzyme deal grows keener
Chris Viehbacher, chief executive of Sanofi-Aventis, quickly dispensed with pleasantries in his letter to Henri Termeer, his counterpart at Genzyme, this week in which he went...
Spot the difference – Ocado edition
Compare and contrast.On Tuesday morning, Goldman Sachs initiated coverage of Ocado with a “buy” rating and a 200p target price:We initiate on Ocado with a Buy rating...
Further reading
Elsewhere on Tuesday,- Pop quiz: terms of trade.- September, a merciless month for Mr Market.- China’s rare earth element big squeeze.- The Barro controversy.-...
FT Alphaville » M&A
FT Alphaville from FT.com
HP to buy 3Par as Dell pulls out of race
Hewlett-Packard won the bidding battle for data storage technology company 3Par after Dell said on Thursday it would not raise its offer and was ending talks
Burger King approves 3G Capital's bid
The board of Burger King has agreed for the Miami-based fast-food chain to be taken private for the second time in its history, after accepting a $3.25bn bid from 3G Capital
CD&R to buy Univar stake from CVC
US private equity group is to buy a 42.5% stake in the chemicals distribution group in a deal valuing the company at $4.2bn
Landmark bids £90m for Carluccio's
Carluccio's, the Italian-themed restaurant chain, has received a £90m takeover offer from Landmark Group, a Dubai-based conglomerate
Capgemini taps into Brazil IT market
Europe's largest IT services company has placed a bet on Latin America, announcing on Thursday a deal to buy a majority stake in CPM Braxis, Brazil's largest information technology services group
Avis raises stakes in bid for Dollar Thrifty
Avis Budget has raised the cash portion of its hostile bid for Dollar Thrifty, intensifying its onslaught against an agreed offer by Hertz for the Oklahoma-based car-rental operator
Potential PotashCorp deal questioned
The province of Saskatchewan is asking for a review of risks and opportunities it faces in a possible takeover of the fertiliser producer that is the target of a hostile bid from BHP Billiton
Aviva hangs on but Spice heads for Cinven
A top shareholder has signalled it would wait for a better takeover bid even as the UK utility services company's board said it was minded to back the private equity group's £364m approach
Russia backs potash groups' tie-up
Kremlin gives public blessing to planned merger between Uralkali and Silvinit as first stage in creating a national fertiliser champion
GLG chief to become Man Group COO
Emmanuel Roman, the co-chief executive of hedge fund GLG Partners, will become the new chief operating officer of Man Group under a plan to acquire the fund manager
Tesco bids for Carrefour Asia assets
World's third largest supermarket chain is among a pack of more than 10 bidders in the first round of an auction for the south-east Asian assets of Carrefour, the French retailer
Spice has second potential buyer
Prospect of a bidding war for the utility services group is seen to intensify
Tomkins wins shareholder backing for takeover
A proposed £2.9bn takeover offer for Tomkins, the London-listed automotive and industrial parts maker, has won the support of over 90% of shareholders
Exelon to buy Deere's wind power unit
Exelon, the US's biggest nuclear generator, has announced it will buy John Deere Renewables for as much as $900m to gain a foothold in the wind power industry
3M makes second foray into security sector
Diversified US manufacturer agrees to buy Israeli monitoring technology company as part of a broader strategy to recast itself as a higher growth company
FT.com - Mergers and acquisitions
FT.com - Mergers and acquisitions
GOLDCORP ENHANCES GOLD PRODUCTION PIPELINE WITH ACQUISITION OF ANDEAN RESOURCES
VANCOUVER, Sept. 2 /PRNewswire-FirstCall/ - Goldcorp Inc. ("Goldcorp") (NYSE:GG, TSX:G) and Andean Resources Limited ("Andean") (TSX and ASX: AND) today announced an agreement whereby Goldcorp will acquire, through a scheme of arrangement under Australian law ("the Arrangement"), all of the outstand
Merchants Leasing Acquires ALD Automotive USA
Synopsys Completes Acquisition of Virage Logic Corporation
MOUNTAIN VIEW, Calif., Sept. 2 /PRNewswire-FirstCall/ -- Synopsys, Inc. (Nasdaq: SNPS), a world leader in software and IP for semiconductor design, verification and manufacturing, has completed its acquisition of Virage Logic Corporation (Nasdaq: VIRL), a leading independent provider of semiconducto
Verenium Closes Sale of Cellulosic Biofuels Business to BP
CAMBRIDGE, Mass., Sept. 2 /PRNewswire/ -- Verenium Corporation (Nasdaq: VRNM), a pioneer in the development and commercialization of high-performance industrial enzyme solutions, today announced the closing of the sale of its cellulosic biofuels business to BP Biofuels North America for $98.3 millio
Legacy Education Acquires High Desert Medical College, Inc. as Part of its Growing Family of Career Training Schools
SAN DIEGO, Sept. 2 /PRNewswire/ -- Career educational institution Legacy Education today welcomed the newest member of its family of career training schools, High Desert Medical College, Inc. The medical training school prepares aspiring medical professionals for careers that include ultrasound tech
BancFirst Corporation Announces Agreement to Acquire Exchange Bancshares of Moore, Inc.
WageWorks Strengthens Position as Market Leader With Acquisition of Planned Benefit Systems
Acquisition of leading independent administrator confirms WageWorks' position as nation's preeminent consumer-directed benefits provider.
SAN MATEO, Calif., Sept. 2 /PRNewswire-USNewswire/ -- WageWorks, the nation's leading provider of flexible benefit account services and COBRA administration, tod
FirstEnergy Receives Support for Merger From Proxy Advisory Firms
AKRON, Ohio, Sept. 2 /PRNewswire-FirstCall/ -- FirstEnergy Corp. (NYSE: FE) announced today that its proposed merger with Allegheny Energy (NYSE: AYE) received support from four proxy advisory firms. The firms – ISS Proxy Advisory Services; Glass, Lewis & Co.; PROXY Governance,
Blossman Gas Announces Purchase of Two Southeastern Propane Marketers
OCEAN SPRINGS, Miss., Sept. 2 /PRNewswire/ -- Blossman Gas, Inc., the nation's largest independent propane retailer, announced today that it has purchased the assets of Leco Gas Inc. of Canton, Georgia, as well as the propane division of McCombs Oil and Propane in Morganton, North Carolina.
These a
The Wicks Group Of Companies, L.L.C. (New York) Announces The Acquisition Of Antenna Audio, Inc.
NEW YORK, Sept. 2 /PRNewswire/ -- The Wicks Group of Companies, L.L.C. ("The Wicks Group"), a New York-based private equity firm, today announced that an affiliate has completed the acquisition of Antenna Audio, Inc., Antenna Audio Limited, and their subsidiaries ("Antenna") from Discovery Communica
BBU Bank (Florida) Acquires and Merges Banesco International Bank Corp. (Puerto Rico)
TDIndustries Acquires JBS Mechanical, Inc. in Phoenix
PHOENIX, Sept. 2 /PRNewswire/ -- Dallas-based TDIndustries has acquired JBS Mechanical in Phoenix, Arizona as part of the firm's overall growth strategy in the state. The $2.2 million acquisition is the result of an extensive search conducted by TDIndustries over the past year.
According to E
Settlement Reached in Kentucky Review of PPL's Proposed Acquisition of E.ON U.S.
ALLENTOWN, Pa., Sept. 2 /PRNewswire-FirstCall/ -- PPL Corporation (NYSE: PPL) announced Thursday (9/2) that it has reached a settlement agreement with all the intervening parties in its Kentucky application to acquire E.ON U.S., the parent company of Louisville Gas and Electric Co. and Kentucky Util
Taleo's Planned Acquisition of Learn.com Is Harbinger of Major Market Shake Up
OAKLAND, Calif., Sept. 2 /PRNewswire/ -- Talent software leader Taleo's planned acquisition of Learn.com, a provider of a cloud-based learning management platform, foretells changes ahead for the learning management market, valued at just under $1B this year, and the overall talent management
Sealy & Company Acquires LEEDΒ? Certified Distribution Center
ATLANTA, Sept. 2 /PRNewswire/ -- Sealy & Company, LLC (Sealy), a fully integrated commercial real estate investment and operating firm, announces the Mortgage Note purchase resulting in ownership of Braselton 85 Distribution Center, a 439,338 square foot LEED® Certified Silver warehouse fac
First Aid Supplier HART Health Acquires Competitor and Continues Expansion
SEATTLE, Sept. 2 /PRNewswire/ -- HART Health, a national manufacturer and distributor of commercial first aid supplies, has acquired the van service division of Synergy Logistics, a Seattle-based first aid supply company. The acquisition follows HART's launch of a new franchise system.
Synergy Logis
Mid-America Apartment Communities, Inc. Announces Dallas Acquisition - The Venue at Stonebridge Ranch
MEMPHIS, Tenn., Sept. 2 /PRNewswire/ -- Mid-America Apartment Communities, Inc. (NYSE: MAA) announced today that it has completed the acquisition of The Venue at Stonebridge Ranch, a high-quality 250-unit apartment community located in the Dallas, Texas MSA.
The Venue at Stonebridge Ranch is locate
Regency Centers Acquires Grocery-Anchored Shopping Center in Chicago Area
GLENVIEW, Ill., Sept. 2 /PRNewswire/ -- Regency Centers, a national owner, operator and developer of grocery-anchored and community shopping centers, closed on the acquisition of Glen Oak Plaza, a 62,443 square foot neighborhood shopping center anchored by Trader Joe's and Walgreens. The prope
Fidelity National Financial, Inc. Announces the Acquisition of Commerce Velocity
JACKSONVILLE, Fla., Sept. 2 /PRNewswire-FirstCall/ -- Fidelity National Financial, Inc. (NYSE: FNF), a leading provider of title insurance, mortgage services, specialty insurance and information services, today announced the acquisition of Commerce Velocity. Commerce Velocity provides technolo
TransViet Travel in Vietnam and WorldLink Travel in Tanzania Join GlobalStar Travel Management
THE HAGUE, The Netherlands, September 2, 2010 /PRNewswire/ -- GlobalStar
Travel Management - the worldwide travel management company known for its
multinational travel management solutions, announces the addition of two new
partners to its network; TransViet Travel in Vietnam and Worldlink Trave
PR Newswire: Acquisitions, Mergers and Takeovers
Press Releases from PR Newswire about Acquisitions, Mergers and Takeovers
Evotec Completes Acquisition of DeveloGen
HAMBURG, Germany, Sept. 2, 2010 (GLOBE NEWSWIRE) -- Evotec AG (Frankfurt:EVT) (TecDAX) today announced the Closing of the agreement to acquire DeveloGen as announced in detail on 14 July 2010.
Discussions Continue on Acquisition Proposal From Onex Corporation
LOUISVILLE, Ky., Sept. 1, 2010 (GLOBE NEWSWIRE) -- ResCare, Inc. (Nasdaq:RSCR) announced that discussions between a special committee of independent ResCare directors and Onex Corporation ("Onex") are continuing as the committee evaluates the acquisition proposal from Onex announced on August 16, 2010.
Elite Pharmaceuticals Announces Acquisition of Generic Naltrexone Product
NORTHVALE, N.J., Sept. 1, 2010 (GLOBE NEWSWIRE) -- Elite Pharmaceuticals, Inc. ("Elite" or the "Company") (OTCBB:ELTP) announced today the acquisition of a currently approved Abbreviated New Drug Application (ANDA) for naltrexone hydrochloride 50 mg tablets from Mikah Pharma LLC ("Mikah"). The brand product and its generic equivalents had annual sales of approximately $14 million in 2009 and there are currently three other approved generic manufacturers plus the innovator. The transfer of the ANDA will begin immediately and Elite expects to begin manufacture of the product early next year. Pursuant to the agreement, Elite will be entitled to sell the drug in the United States and its territories, including Puerto Rico, and has licensed to Mikah the right to sell the drug in the remainder of the world.
Lucas Energy Announces Closing Third Part of Eagle Ford Joint Venture With Hilcorp Energy I, L.P.
HOUSTON, Sept. 1, 2010 (GLOBE NEWSWIRE) -- Lucas Energy, Inc. (NYSE Amex:LEI) an independent oil and gas company (the "Company") based in Houston, Texas, today announced that the Company has closed the third part of its Eagle Ford joint venture with Hilcorp Energy I, L.P., an affiliate of Hilcorp Energy Company. Hilcorp Energy I, L.P. has acquired 85% working interests in an additional 1,814 gross acres controlled by the Company in the Eagle Ford trend in Gonzales County, Texas. Lucas received $1.3 million in this third closing. Additional closings may take place in the future. Lucas has additional acreage in Gonzales County that is not yet a part of the Hilcorp joint venture but may be in the future, and the Company may acquire additional acreage in Gonzales County which may be a part of the joint venture in the future.
Cloud Centric Systems, Inc. Secures Success With VizualMobile Acquisition
LONDON, Sept. 1, 2010 (GLOBE NEWSWIRE) -- Cloud Centric Systems, Inc. (Pink Sheets:CLDR) proudly announces that it has expanded its service offerings and potential revenue streams with the acquisition of VizualMobile, a European-based technology firm. The deal was sealed with a cash/stock agreement which both parties feel will be of mutual benefit toward long-term growth.
DigitalPost Interactive Completes Acquisition of Rovion Inc., Enters Rich Media Advertising Market
IRVINE, Calif., Sept. 1, 2010 (GLOBE NEWSWIRE) -- DigitalPost Interactive (OTCBB:DGLP) (http://www.dglp.com), a leader in the digital media-sharing and social networking space, today announced that its acquisition of Rovion, Inc. (http://www.rovion.com), the Boston-based inventors of the InPerson(tm) virtual spokesperson ad unit and industry leading innovators of rich media advertising, closed on August 31, 2010.
LHC Group Acquires Home Health Agency in Harrodsburg, Kentucky
LAFAYETTE, La., Sept. 1, 2010 (GLOBE NEWSWIRE) -- LHC Group, Inc. (Nasdaq:LHCG), a national provider of home health and hospice services, announced today that it has acquired 100% of the assets of Haggin Home Health from The James B. Haggin Memorial Hospital in Harrodsburg, Kentucky. The newly acquired agency will operate under the name of Lifeline Health Care of Harrodsburg.
IIJ Completes Acquisition of Subsidiary From AT&T Japan
TOKYO, Sept. 1, 2010 (GLOBE NEWSWIRE) -- Internet Initiative Japan Inc. (IIJ) (Nasdaq:IIJI) (TSE1:3774), one of Japan's leading Internet access and comprehensive network solutions providers, today announced that it has acquired a 100% stake in the new subsidiary established by AT&T Japan LLC, as announced in IIJ's press release dated June 1, 2010. (*1) This acquisition makes the company a 100% owned subsidiary of IIJ, and it will begin operations today under the name IIJ Global Solutions Inc. ("IIJ-Global").
LadyBug Resource Group Signs Agreement to Acquire Men's Medical Corporation
KIRKLAND, Wash., Aug. 31, 2010 (GLOBE NEWSWIRE) -- LadyBug Resource Group Inc. (OTCBB:LBRG) has signed an Agreement to acquire 100% of Men's Medical Corporation.
BankServ to Acquire NetDeposit From Zions Bancorporation
SALT LAKE CITY, Aug. 31, 2010 (GLOBE NEWSWIRE) -- BankServ and NetDeposit, leaders in remote deposit capture and electronic payment technologies, announced today the signing of a definitive agreement wherein BankServ will acquire substantially all of the assets of NetDeposit, LLC, a wholly owned subsidiary of Zions Bancorporation (Nasdaq:ZION). These assets include the flagship products and services of NetDeposit, LLC, as well as all related customer contracts and agreements.
Cabot Microelectronics Corporation Completes Second Closing of Acquisition of Epoch Material Co., Ltd.
AURORA, Ill., Aug. 30, 2010 (GLOBE NEWSWIRE) -- Cabot Microelectronics Corporation (Nasdaq:CCMP), the world's leading supplier of chemical mechanical planarization (CMP) polishing slurries and growing CMP pad supplier to the semiconductor industry, today announced that it completed the second closing of its two-step acquisition of Epoch Material Co., Ltd. (Epoch), a copper CMP slurry provider in Taiwan, on August 27, 2010. As previously disclosed, Cabot Microelectronics initially obtained 90 percent of Epoch's stock in February 2009, and with this second closing, the remaining 10 percent was transferred to the company from Eternal Chemical Co., Ltd. (Eternal Chemical) (TAI:1717). The total acquisition price was approximately $66 million, all of which was paid or escrowed at the first closing.
Converted Organics Urges Shareholders to Vote
BOSTON, Aug. 27, 2010 (GLOBE NEWSWIRE) -- Converted Organics Inc. (Nasdaq:COIN) today announced that its proxy proposal to acquire TerraSphere Systems LLC has received overwhelming support from those Shareholders who have voted their shares, and urges Shareholders who have not yet voted to submit their votes as soon as possible. While support for the acquisition has been high, the Company has not yet received enough votes to constitute a quorum. For the Special Meeting of Shareholders, scheduled for August 31, 2010, to be duly convened, a quorum of voters must be reached. To reach a quorum, a majority of stock issued and outstanding as of the date of record must vote.
Salamon Group, Inc. Negotiates for Interest in U.S.-Based Solar Energy Company
LAS VEGAS, Aug. 27, 2010 (GLOBE NEWSWIRE) -- Salamon Group, Inc. (OTCBB:SLMU) ("Salamon Group" or the "Company") is pleased to announce that it has entered into negotiations to acquire a majority interest in an advanced solar technology engineering, sales and installation company based in Illinois, USA.
XETA Technologies Announces Agreement to Acquire Data-Com Telecommunications
BROKEN ARROW, Okla., Aug. 26, 2010 (GLOBE NEWSWIRE) -- XETA Technologies (Nasdaq:XETA), a national provider of converged communications solutions for the enterprise marketplace, today announced a definitive agreement to acquire Data-Com Telecommunications Inc. ("Data-Com"). Headquartered in New Jersey, Data-Com is a privately held provider of communications equipment, applications and related services.
AmTrust Financial Services, Inc. Completes Acquisition of Warrantech Corporation
NEW YORK, Aug. 26, 2010 (GLOBE NEWSWIRE) -- AmTrust Financial Services, Inc. ("AmTrust") (Nasdaq:AFSI) announced today that, through its subsidiary AMT Warranty Corp., it has acquired the remaining 73% ownership interest in Warrantech Corporation ("Warrantech"), bringing its total ownership interest to 100%. Warrantech is a Bedford, Texas-based developer, marketer, and third party administrator of service contracts and aftermarket warranty products that largely serves the consumer products and automotive industries in the U.S. and Canada. From 2007 through the second quarter of 2010, AmTrust has generated over $224 million in written premium with strong underwriting profits as a result of its original ownership interest in Warrantech.
Targa Resources Partners LP Completes Asset Acquisition from Targa Resources, Inc.
HOUSTON, Aug. 25, 2010 (GLOBE NEWSWIRE) -- Targa Resources Partners LP ("NGLS" or the "Partnership") (NYSE:NGLS) announced today that it has completed the previously announced acquisition from Targa Resources, Inc. ("Targa") of Targa's 63% interest in the natural gas gathering and processing business located in Southeast New Mexico and West Texas known as the Versado System. Total value of the transaction was approximately $247 million (which reflects certain adjustments to the base purchase price, including an adjustment for cash acquired by the Partnership of $20 million), subject to certain adjustments. Consideration paid by the Partnership to Targa consisted almost entirely of cash funded through borrowings under the Partnership's senior secured revolving credit facility.
Bryn Mawr Bank Corporation Reports Successful Computer System Conversion of First Keystone Financial, Inc. Customer Accounts
BRYN MAWR, Pa., Aug. 25, 2010 (GLOBE NEWSWIRE) -- Bryn Mawr Bank Corporation (Nasdaq:BMTC), (the "Corporation"), parent of The Bryn Mawr Trust Company (the "Bank"), today announced that it has successfully completed the conversion of First Keystone Financial, Inc. customer accounts to Bryn Mawr Trust's computer systems.
Rhino Human Resources Completes Name Change, Reverse Split and Acquires National Staffing Company With Experienced Board of Directors
HOLBROOK, N.Y., Aug. 25, 2010 (GLOBE NEWSWIRE) -- Rhino Human Resources, Inc. (Pink Sheets:IFHRD), formerly INFE Human Resources, Inc., announced today that it's much anticipated name change and reverse stock split has been approved by FINRA with an effective date of August 25, 2010. The company is also pleased to announce the acquisition of a national staffing firm, Lone Staffing, Inc., through a Share Exchange Agreement which brings a slate of new management through an experienced board of directors. The new Board consists of CEO Robert Anderson, Treasurer Timothy Schmidt, Secretary & VP Rachel Collins, and Chairman of the Board of Directors Raymond Barton. All four bring a wealth of experience and hold executive director positions at NorthStar Global Business Services, Inc. (Pink Sheets:MDIND) as well. One of the first tasks the new team is tackling is providing disclosure of current and past corporate information to both the shareholders and the public, including the preparation and filing of company financials.
SouthernSun Asset Management Acquires Controlling Interest From Outside Shareholders
MEMPHIS, Tenn., Aug. 25, 2010 (GLOBE NEWSWIRE) -- SouthernSun Asset Management, a research-driven investment management firm implementing Small Cap, SMID Cap, and Global Equity investment strategies, today announced that it has acquired the interests of several outside shareholders to become majority employee-owned. Rosemont Investment Partners, a private equity boutique focused exclusively on making investments in asset management companies, provided capital for the transaction.
Converted Organics Inc. Urges Shareholders to Vote on Proposed Acquisition of TerraSphere Systems Ahead of August 31st Meeting
BOSTON, Aug. 25, 2010 (GLOBE NEWSWIRE) -- Converted Organics Inc. (Nasdaq:COIN) today announced that industry-leading proxy advisory firms have issued reports recommending that Converted Organics' Shareholders vote in favor of the TerraSphere Systems, LCC proposal found in the Special Meeting Proxy materials.
GlobeNewswire: Acquisitions News
GlobeNewswire: Acquisitions News