Magnetation LLC, which operates a massive iron ore pellet plant in Indiana, has filed for bankruptcy. The company announced plans for the Reynolds plant in late 2012, saying it would spend as much as $350 million on the facility and create up to 100 jobs there by the end of this year.
The Indianapolis-based maker of genetically modified seed traits and weed killers said Thursday that it earned $409 million before interest, taxes, depreciation and amortization, down by 19 percent from the same quarter a year ago.
Simon’s hostile bid represents a 30-percent premium to Macerich’s closing price on Nov. 18, the day before Simon disclosed it acquired a 3.6-percent stake in the Santa Monica, California-based mall landlord.
RadioShack Corp. can start getting rid of its inventory right away, a judge said in approving the 94-year-old consumer-electronics chain’s request to begin store-closing sales. The list includes more than a dozen local stores.