Southwest swoops in to benefit from ATA Airlines’ bankruptcy
Southwest is striking a deal to acquire ATA’s valuable landing slots at LaGuardia
and most of the dying airlines’ remaining assets for $7.5 million.
Deals
Articles
Greensfork Township State Bank to acquire local startup that failed to live up to high hopes
A rural Indiana bank that specializes in farm lending has agreed to buy Symphony Bank for less than the ambitious startup
spent to build its extravagant branch on 96th Street.
Siegel’s NASCAR future in doubt after merger
Chip Ganassi’s NASCAR team is teaming with Dale Earnhardt Inc. where Max Siegel has served as president of global operations
since early 2007, and the former Baker & Daniels attorney may be among many laid off in the merger.
California’s Blue Real Estate establishes local presence
Blue Real Estate, a California firm that made a bundle selling West Coast office buildings at the market’s peak, has been
buying up local buildings and trying to learn the Indianapolis market.
Indiana CEOs are cautious during financial mayhem
CEOs with Simon Property, Duke Realty Corp. and Interactive Intelligence Inc. report that their companies are taking an uncharacteristically
cautious approach to acquisitions and investments, given the faltering economy.
Bailout helping PNC take over NatCity
After a 17-year run in Indianapolis, National City’s trademark green signs are set to be replaced with the blue of Pittsburgh-based PNC Financial. The $5.6 billion deal raises questions about the government’s growing involvement in banking.
OneAmerica well positioned to acquire other insurance companies
OneAmerica Financial Partners Inc. has made no secret of its desire to acquire other companies. Well, if it wants to buy,
it could hardly find a better time.
Safeco weighs downtown exit; owners of insurer’s building market space
Insurance giant Safeco Corp. is expected to either vacate or scale back its downtown operation next year–a move that could
deal a major blow to the office market. At stake are about 700 downtown jobs, some or all of which could be eliminated or
shifted to the suburbs. A final decision about the fate of Safeco’s five-building downtown office complex likely will come
after Boston-based Liberty Mutual completes its $6.2 billion acquisition of Seattle-based Safeco.
Financial woes may keep Genesco purchase from crossing Finish Line
An acquisition that looked daring and bold when it was announced quickly blew up on Finish Line Inc. The Indianapolis retailer
agreed in June to buy Tennessee-based Genesco Inc.–parent of Journeys, Hat World and other mall chains–for $1.5 billion
in
cash.
Allison Transmission might be ripe for management buyout
As struggling General Motors Corp. tries to raise cash by unloading Allison Transmission, the fate of the city’s third-largest
manufacturer hangs in the balance. But analysts say its market dominance, strong management team and abundance of private
equity could spare it the fate of other auto plants here.
Buyout boom isn’t all bad for Hoosiers
Announcements that major Indiana companies have been acquired are traditionally met with trepidation. But a rash of recent
buyouts of Indiana companies shows they’re not always bad news.