FirstMerit, the Akron-based bank that has become a Top 20 player in the Chicago area through three recent acquisitions, said it expects the pace of Illinois bank failures to pick up again. Get the full story »
Inside these posts: Acquisition
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FDIC sues failed Ill. bank’s execs over losses
The FDIC sued 11 former executives and directors at a failed Illinois bank on Monday, part of the regulator’s efforts to recover more than $1 billion of losses in its deposit insurance fund.
The lawsuit accuses former officials at Heritage Community Bank of negligence, gross negligence and breach of fiduciary duty.
The Federal Deposit Insurance Corp is planning to sue more than 50 officers and directors of failed banks to help replenish its deposit insurance fund, a spokesman for the regulator said. Get the full story »
Northern Trust shares pop as takeover rumors swirl
Shares of Northern Trust Corp. jumped 4.4 percent on Tuesday as talk swirled that HSBC, Europe’s biggest bank, may be planning to make a bid for the U.S. trust bank and investment manager. Get the full story »
General Growth names Ackman spinoff chairman
General Growth Properties Inc. on Friday named the board of its future spin-off company and appointed hedge fund manager William Ackman to become its chairman when the mall owner and property developer emerges from bankruptcy. Get the full story »
Potash stocks soar on corn data
Shares of Potash Corp. and other leading fertilizer makers jumped on Friday after the U.S. government estimated a smaller-than-expected U.S. corn harvest, driving up prices of the nutrient-intensive crop.
Shares of Agrium, Mosaic Co. and CF Industries also rose on the data. Get the full story »
General Electric to acquire Dresser for $3 billion
General Electric Co. on Wednesday signed a deal to buy Dresser Inc. for about $3 billion, its latest deal to expand its product offerings in gas and other energy markets.
Navigant buys EthosPartners for $37 million
Navigant Consulting Inc., a consulting firm that provides dispute resolution and financial and regulatory advice, said Monday it bought EthosPartners Healthcare Management Group Inc. for $37 million.
Sally Beauty buys Aerial Co. for $70M
Sally Beauty Holdings Inc. bought Aerial Co. Inc. for $70 million as the professional beauty supplier looks to expand its footprint in the Midwest.
The Marinette, Wisc.-based Aerial sells professional beauty supplies such as hair and skin-care products to salons and spas. It had about $100 million in revenue last year. Get the full story »
Old Republic closes on buyout of PMA Capital
From Forbes | Old Republic International Corp. completed its $228 million all-stock acquisition of PMA Capital Corp., the insurers said Friday.
BHP says it’s close to lodging Potash legal challenge
BHP Billiton said on Friday it expected to lodge a motion within the next few days to challenge a lawsuit filed by Potash Corp. to fend off the miner’s $39 billion hostile takeover bid. Get the full story »
Most Hewitt holders want Aon stock in buyout
From BusinessWeek | Most of the stockholders of Hewitt Associates Inc. have decided to receive shares of Aon Corp. as part of the $4.9 billion sale of the human resources specialist.
Stericycle to pay $245M for healthcare waste firm
Medical waste disposal firm Stericycle, Inc said it has agreed to buy Healthcare Waste Solutions, Inc. for $245 million in cash.
Lake Forest-based Stericycle said Healthcare Waste “provides a resource management assessment and consulting program for all waste streams to healthcare providers.” Get the full story »
AOL to acquire popular tech blog TechCrunch
AOL Inc. said it would acquire the popular technology blog and network TechCrunch as it tries to remake itself into a Web entertainment and news powerhouse. Get the full story »
Wal-Mart offers $4 billion for S. Africa’s Massmart
Wal-Mart is in talks to buy South Africa’s Massmart, a $4 billion deal that would give the U.S. retailer a big presence in fast-growing Africa and boost its emerging markets strategy. Get the full story »
Potash Corp sues BHP to block takeover bid
Potash Corp. said Wednesday it filed a lawsuit against BHP Billiton that seeks to block the mining giant’s $39 billion hostile bid for the Canadian fertilizer producer.
The lawsuit filed in a U.S. District Court alleges that BHP misrepresented and failed to inform investors about material facts, and it accuses BHP of engaging in fraudulent, deceptive and manipulative behavior related to its offer. Get the full story »
