Hhgregg Inc. plans to price its initial public offering at $15 to $17 a share, according to a company filing with the Securities and Exchange Commission. The appliances and electronics retailer in April said an IPO was in the works but provided few details. The Indianapolis company will offer 9.4 shares, and would raise $150 […]
Three multi-family housing properties in Broad Ripple have been acquired by California-based Orloff Property Management for $12.1 million. The seller was Bloomington-based Pinnacle Properties LLC. The complexes are Broad Ripple Village, Broad Ripple Commons and Broad Ripple Towne Homes-all located on 52nd Street near the Monon Trail.
Many banks, including Harris Bankcorp of Chicago, would have wanted to buy First Indiana Corp., according to long-time analyst John Reed, president of investment banking group at David A. Noyes & Co. of Chicago. In fact, Reed expected Harris instead of Marshall & Ilsley Corp. to snap up First Indiana. Harris is the U.S. unit […]
First Indiana Corp.’s Milwaukee-based acquirer says it will pay $529 million, or $32 a share. That’s a whopping 45 percent premium to where First Indiana stock has been trading. Rumors have swirled for weeks that First Indiana, the city’s largest remaining locally based bank, was in negotiations to be acquired. Industry buzz had focused on […]
Indianapolis-based First Indiana Corp. said today it has signed a definitive agreement to be acquired for $529 million by Marshall & Ilsley, a Milwaukee-based financial services firm. First Indiana, which has $2.1 billion in assets, has 32 branches in central Indiana. The branches will become Marshall & Ilsley branches after the deal closes. The deal […]
German transmission maker Getrag Corporate Group and Chrysler Group picked Tipton for their $530 million joint-venture transmission plant over Kokomo and a shovel-ready site at the former Grissom Air Force Base at Peru because it was the best compromise, according to a Chrysler official who helped arrange the deal. Brian Harlow, Chrysler’s general manager of […]
A backer of a 3,000-acre intermodal shipping hub planned for LaPorte County in northwest Indiana says he has the land under contract and as much as $2 billion in financing lined up to proceed. All that’s needed, Chris Davey told the Post-Tribune of Merrillville, are commitments from railroad companies that they would use the facility. […]
A Woodinville, Wash., provider of advertising promotional products has committed to locating a distribution center in an existing Plainfield building, the Indiana Economic Development Corp. said today. Bensussen Deutsch & Associates will employ 50 at the 150,000-square-foot site. The company, which has an office in Indianapolis, received $206,000 in incentives.
Milton J. Miller II has been named CEO of the Federal Home Loan Bank of Indianapolis. Miller is a 30-year veteran of the bank who’d most recently served as chief financial officer. He replaced Brian Fike who had filled the CEO’s role on an interim basis since December, when Martin Heger retired. Miller will assume […]
U.S. employers added 132,000 last month, according to the Labor Department, a decline from the 190,000 jobs added in May. Economists had expected that 125,000 jobs would be added to employer payrolls. The national unemployment rate matched forecasts, holding steady at 4.5 percent. The state unemployment rate for May, the most recent month available, also […]
Michigan-based manufacturer Hayes Lemmerz International Inc. has sold its Wabash unit to Harvey Industries LLC of Massachusetts. Financial terms were not disclosed. The Wabash operation employs about 325 and makes intake manifolds, cylinder heads, water pump housings and cast iron exhaust manifolds. Hayes Lemmerz makes automotive and commercial highway wheels, brakes and powertrain components.
Cabela’s, the outdoor-goods retailer that recently announced plans for a Greenwood store, has had to repay or forfeit nearly $350,000 in incentives it received from governmental entities in Texas because it failed to hire as many workers as promised at two stores there, according to the Austin Business Journal. Cabela’s has said it will hire […]
Beverly Hills-based Hilton Hotels Corp. has agreed to be bought by Blackstone Group for $20.1 billion. The deal, which gives Blackstone 2,800 hotels and 480,000 rooms in 76 countries, will make Blackstone the world’s largest hotel owner. There are two Hiltons in Indianapolis, one downtown and another on North Shadeland Avenue. The acquisition is expected […]
Sales of Subaru vehicles made at Subaru of America Inc. in Lafayette fell 7 percent in June, according to the Journal & Courier, marking the sixth consecutive monthly decline in sales for the vehicles. Year-to-date sales are down 6 percent from the same time last year. The Lafayette plant makes Subaru’s Legacy line, which includes […]
Researchers from Eli Lilly and Co. helped find a gene mutation that appears to cause certain cancers and may also make cells resistant to some therapies. The study results were announced Wednesday in an online publication of the journal Nature. If validated by further studies, the discovery could help drug researchers tailor medications to individual […]
Haverstick Consulting Inc. plans to expand, hiring 40 new employees by 2011 and relocating its corporate offices from Carmel to Indianapolis in the meantime, according to state economic development officials. The firm will move to consolidate office space with its parent company, Stephen Hilbert’s private equity firm MH Equity, on the west side of Indianapolis. […]
Carmel-based Kipp Brothers is voluntarily recalling one of its toys in cooperation with the U.S. Consumer Product Safety Commission. The Mag Stix Magnetic Building Sets are being recalled because magnets inside the plastic sticks can fall out and be swallowed. The commission said it has received one report of an 8-year-old girl who was hospitalized […]
The Chronicle-Tribune in Marion has been sold to Paducah, Ky.-based Paxton Media Group LLC. Financial terms were not disclosed. The paper’s previous owner, McLean, Va.-based Gannett Co. Inc., in May donated the newspaper to the Gannett Foundation, which completed the sale. The new owner plans to revive the paper’s business office and printing presses within […]
Gotec Plus USA in Huntington has closed, displacing about 25 workers, reports The Herald-Press. The company, which prepares metal for vehicle parts, said the downturn in the automotive industry caused the shutdown. The last day for employees was June 29. Huntington is about 30 miles southwest of Fort Wayne.
Fort Wayne-based Steel Dynamics Inc. has closed on its $360 million acquisition of The Techs, a flat-rolled-steel company based in Pennsylvania. The company has three galvanizing facilities in Pennsylvania, including two in Pittsburgh. The deal was announced last month.
