Mergers & Acquisitions

Greensburg manufacturer sold, jobs moving to Oklahoma

November 3, 2009
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.
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Music Mill to reopen again under new owner

September 11, 2009
Jeff Newman, Scott Olson
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.
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Report: Ice Miller, Louisville firm end merger talks

September 8, 2009
Scott Olson
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.
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Republic's purchase of Frontier could mean more local jobs

September 4, 2009
 IBJ Staff
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.
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Local contractor Enterprise acquires Freije

August 28, 2009
 IBJ Staff
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.
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Southwest bid for Frontier could be in trouble

August 13, 2009
Scott Olson
Southwest Airlines Co.'s bid for Denver-based Frontier Airlines Holdings Inc. may have hit turbulence, according to the Dallas Morning News.
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Local company acquires monster truck series

August 11, 2009
 IBJ Staff
The Promotion Co Inc., an Indianapolis-based event promoter, said today that it has acquired the Monster Nationals series of monster-truck shows from Image Promotions Inc. in Chardon, Ohio.
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Lilly software spinoff Maaguzi sells for $11 millionRestricted Content

August 3, 2009
Chris O'Malley
Investors in a company built around clinical research software bought from Eli Lilly and Co. have found their exit, though it’s far from the lucrative payoff they’d once imagined.
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Republic Airways closes purchase of Midwest

August 2, 2009
Republic Airways Holdings says it has completed its acquisition of privately held Midwest Airlines for $31 million in cash and debt.
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Dow Agro sale still possible, but less likely

July 30, 2009
Peter Schnitzler
Midland, Mich.-based Dow Chemical Co. is still considering divesting Indianapolis subsidiary Dow AgroSciences LLC. But chances that the chemical manufacturing giant will sell its local agricultural chemical and biotech unit have decreased.
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Grain Dealers Mutual merges with Florida firm

July 28, 2009
Scott Olson
Indianapolis-based Grain Dealers Mutual Insurance Co., one of the largest property-casualty insurers in the state, will become part of The Main Street America Group, the Jacksonville, Fla.-based company said this morning.
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Brightpoint's Danish deal not so sweet two years laterRestricted Content

July 13, 2009
Greg Andrews
The cross-continent mega deal that made Brightpoint Inc. the world’s biggest wireless phone distributor has lost much of its sheen two years after being struck. Brightpoint Inc. in August 2007 purchased Denmark-based Dangaard Telecom for $385 million in stock and the assumption of $350 million in Dangaard debt.
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Indianapolis benefits firms merge

July 8, 2009
J.K. Wall
Two Indianapolis benefits consulting firms have finalized their merger, the companies announced this morning. Terms of the deal between Benefit Associates Inc. and Benefit Consultants Inc., in the works since March, were not disclosed.
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Republic growth strategy fraught with riskRestricted Content

June 29, 2009
Chris O'Malley
By purchasing two struggling airlines for which it flies, Republic Airways Holdings is taking aboard substantial risks that threaten its profitable niche, analysts say. Frontier Airlines and Midwest Airlines are not only leaking money, but fly at an altitude where major carriers routinely dogfight in a fare war Republic hasn't had to fight as a contract carrier.
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If Dow AgroSciences sells, let's hope it's not to a rivalRestricted Content

June 29, 2009
Greg AndrewsMore

A.J. Gallagher & Co. strikes again, hires two more benefits brokersRestricted Content

June 29, 2009
 IBJ Staff
National acquisition-and-merger rage among benefits firms continues as Gallagher swallows groups in Noblesville and Louisville. Gallagher's Carmel office grows its client portfolio to 300.
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Ice Miller still in merger talks with Louisville law firmRestricted Content

June 22, 2009
Scott Olson
The city's third-largest law firm is poised to tie the knot with Kentucky's Greenebaum Doll & McDonald. But differences in the way the firms compensate partners are taking longer than expected to sort out.
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Express Scripts closer to $4.7B WellPoint deal

May 28, 2009
 IBJ Staff and Associated Press
Express Scripts Inc. has cleared an antitrust review for its planned purchase of Indianapolis-based WellPoint Inc.'s pharmacy benefits management business, bringing the $4.7 billion deal closer to completion.
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Ritter's buyer retools custard chainRestricted Content

May 4, 2009
Sam Stall
Indianapolis residents have been passionate about Ritter's handmade frozen custard ever since it debuted almost two decades ago. But while the ice cream is sweet, the story of the former mom-and-pop company's attempts to morph into something grander is decidedly bitter. Now, New York-based TruFoods, which bought the company in May 2008, is trying to get the formula right.
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With pharma famine looming, Lilly relying on snack-size dealsRestricted Content

May 4, 2009
J.K. Wall
Compared with some of his pharmaceutical CEO peers these days, John Lechleiter has his company on a diet. Instead of using a mega-merger to bulk up before the famine that patent expirations will bring on the industry next year, Lechleiter has Eli Lilly and Co. burning management fat while looking for smaller companies to munch on.
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White River Capital negotiating new terms for its First Chicago Bancorp mergerRestricted Content

April 20, 2009
Peter Schnitzler
In a March 13 filing with the Securities and Exchange Commission, publicly traded White River revealed it's postponed its merger with First Chicago Bancorp, and now is negotiating new terms.
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$4.7B WellPoint deal leaves workers in limbo

April 13, 2009
J.K. Wall
Investors cheered this morning after WellPoint Inc. agreed to sell its pharmacy management unit to Express Scripts Inc., but the fate of about 2,100 WellPoint employees now is up in the air.
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WellPoint to sell subsidiary for $4.6B

April 13, 2009
J.K. Wall
WellPoint Inc. has agreed to sell its pharmacy benefits management arm for $4.675 billion in cash and stock to St. Louis-based Express Scripts, the companies announced April 13.
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Benefits mergers on the increaseRestricted Content

March 30, 2009
J.K. Wall
Benefits brokers and agents—facing increasing demands from employers and declining commissions—are merging at an accelerating pace.
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Durham insider deal sparks outcry

March 9, 2009
Greg Andrews
Tim Durham is facing allegations of self-dealing after a publicly traded company he helps run in Dallas acquired assets from a finance company he owns in Ohio.
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