Public Companies

Simon buying Prime Outlets in $2.3B deal

December 8, 2009
Cory Schouten
Simon Property Group Inc. is doubling down on outlet malls with an agreement to buy Baltimore-based Prime Outlets, a privately held firm that owns 22 of the giant properties.
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Ariad asks court to restore patent-suit win against Lilly

December 8, 2009
 IBJ Staff
A federal appeals court will decide whether Eli Lilly and Co. must pay $65.2 million in damages, plus royalties, over a drug-patent claim.
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Calumet selling 3 million shares in secondary offering

December 8, 2009
Calumet Specialty Products Partners LP is selling 3 million shares of common stock to pay debt and to finance requirements of an agreement with another company.
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Asking price for Hilbert estate drops below $10M

December 7, 2009
Andrea Muirragui Davis
After more than four years on the market, the Carmel estate built for Conseco Inc. founder Stephen Hilbert is listed at $9.9 million—less than half of the original asking price and a third of the $30 million it was estimated to be worth in 2001.
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Cummins to lay off 400-plus workers in New York

December 2, 2009
Andrea Muirragui Davis
Columbus engine maker Cummins Inc. will idle at least 400 workers at a manufacturing facility in Jamestown, N.Y., because of a change in emission standards that will cut production from 500 engines a day to 100.
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Express Scripts closes $4.7B deal to buy WellPoint pharmacy unit

December 1, 2009
 IBJ Staff
St. Louis-based Express Scripts Inc. has completed its $4.7 billion acquisition of WellPoint Inc.’s pharmacy benefits management business, the company said Tuesday.
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PROXY CORNER: Brightpoint Inc.

November 28, 2009
 IBJ Staff
Brightpoint Inc. provides worldwide distribution and integrated logistics services to the wireless communications industry.
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Biglari was persistent in pressing Western Sizzlin deal

November 23, 2009
Greg Andrews
Steak n Shake CEO Sardar Biglari proposed buying Western Sizzlin in January and again in May and advocated the unusual structure of the $39 million transaction.
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PROXY CORNER: Noble Roman's Inc.

November 14, 2009
 IBJ Staff
Noble Roman’s Inc. sells and services franchises for non-traditional and co-branded food service operations under the trade name Noble Roman’s Pizza.
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Adesa parent turns profit on lower revenue

November 10, 2009
Carmel-based KAR Auction Services Inc. on Monday said the company turned a profit in the third quarter, although revenue decreased slightly.
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Noble Roman's reports profit despite lower revenue

November 10, 2009
Andrea Muirragui Davis
Indianapolis-based Noble Roman's Inc. said late Monday that it posted a third-quarter profit of $459,535, or 2 cents per share—a 44-percent improvement over the same period last year. But revenue for the quarter fell to $1.9 million, from $2.2 million in 2008.
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Struggling Bioanalytical Systems adds outsider to boardRestricted Content

November 7, 2009
Peter Schnitzler
Shareholders are starting to make inroads in their effort to turn struggling West Lafayette-based Bioanalytical Systems Inc. in a new direction.
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Brightpoint profit dips but beats expectations

November 4, 2009
Wireless device distributor Brightpoint Inc. said late Wednesday afternoon that profit and revenue both fell in the third quarter because it sold fewer devices at lower prices.
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Conseco reports $15.4 million profit in third quarter

November 4, 2009
J.K. Wall
The Carmel-based life insurer's third-quarter results exceeded Wall Street analysts' predictions.
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Calumet improves quarterly profit despite sales hit

November 4, 2009
 IBJ Staff
Calumet Specialty Products LP posted a profit of $3.9 million in the third quarter, recovering from a $12.5 million loss in the same period last year.
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Lilly reducing sales force by 191 as part of larger restructuring

November 2, 2009
Eli Lilly and Co. has notified the state that it plans to eliminate 191 sales jobs as part of a company-wide restructuring announced in September that ultimately will result in 5,500 job cuts by the end of 2011.
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PROXY CORNER: Conseco Inc.

October 31, 2009
 IBJ Staff
Conseco Inc. provides Medicare supplement, cancer, heart/stroke and accident insurance policies as well as annuities and life insurance products through a nationwide network of distributors. 
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King Systems, Steel Dynamics fined over safety violations

October 28, 2009
Cory Schouten
The Indiana Department of Labor has slapped two Indiana companies with fines of about $200,000 each for repeated safety violations that put workers at risk.
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Challenges remain for Emmis despite NASDAQ save

October 27, 2009
 IBJ Staff
Shares of Indianapolis-based Emmis Communications Corp. closed Monday at $1.53, the 10th straight day the stock has finished trading above $1—preserving the company's listing on the NASDAQ stock exchange, but big challenges remain for the locally based owner of radio stations and magazines.
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Revenue, profit on rise for Interactive Intelligence

October 26, 2009
 IBJ Staff
Indianapolis-based business software firm Interactive Intelligence on Monday reported higher third-quarter profit on record revenue of $33.2 million.
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Emmis stock closes at $1.53, avoids delisting

October 26, 2009
 IBJ Staff
Shares of Indianapolis-based Emmis Communications Corp. closed Monday at $1.53, the 10th straight day the stock has finished trading above $1—preserving the company's listing on the NASDAQ stock exchange.
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Lilly needs to sell more Effient before Zyprexa loses patent protectionRestricted Content

October 24, 2009
J.K. Wall
Sales of Eli Lilly and Co.’s newest drug were an afterthought during its Oct. 21 report on third-quarter earnings. The blood thinner Effient totaled up $22.6 million in sales—a mere 0.4 percent of Lilly’s total for the quarter.
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Uncertainty over drug pipeline sends Lilly shares down

October 21, 2009
J.K. Wall
For the first time publicly, Eli Lilly and Co. officials admitted the obvious: Their pipeline products aren't likely to offset the revenue the company will lose after its two bestsellers, Zyprexa and Cymbalta, lose patent exclusivity.
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Lilly reports $942 million profit in third quarter

October 21, 2009
J.K. Wall
Excluding special items, Eli Lilly and Co.'s earnings per share spike 22 percent on the strength of Alimta, Cymbalta and Humalog sales. Lilly's revenue rose 7 percent in the quarter over the same period of 2008, to $5.56 billion.
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PROXY CORNER: WellPoint Inc.

October 17, 2009
 IBJ Staff
WellPoint Inc. is one of the nation's largest health insurance companies and also provides dental, vision, disability and life insurance.
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