Frontier creditors approve reorganization plan
Frontier Airlines Holdings Inc. said yesterday that creditors have approved its bankruptcy reorganization plan, including
its planned purchase by Republic Airways.
Mergers & Acquisitions
Articles
Local contractor Enterprise acquires Freije
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.
First Farmers acquiring CB Bank Shares
Converse-based First Farmers Financial Corp. said this morning it has agreed to acquire CB Bank Shares Inc. in Russiaville.
Southwest bid for Frontier could be in trouble
Southwest Airlines Co.’s bid for Denver-based Frontier Airlines Holdings Inc. may have hit turbulence, according to the Dallas
Morning News.
CARUSO: Real estate buyers, sellers, must recalibrate expectations
Mergers and acquisitions have all but ground to a halt because of lack of credit, disparate expectations between buyers and
sellers, and hesitance on the part of buyers to deploy their capital.
Local company acquires monster truck series
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.
Republic Airways closes purchase of Midwest
Republic Airways Holdings says it has completed its acquisition of privately held Midwest Airlines
for $31 million in cash and debt.
Lilly software spinoff Maaguzi sells for $11 million
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.
Dow Agro sale still possible, but less likely
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.
Grain Dealers Mutual merges with Florida firm
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.
Brightpoint’s Danish deal not so sweet two years later
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.
Indianapolis benefits firms merge
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.
If Dow AgroSciences sells, let’s hope it’s not to a rival
Private equity firms have a reputation as ruthless acquirers. They slash fat and jettison sluggish product lines, all in a quest to wring out higher profits and grow the parts of the business with the most potential. For Indianapolis-based Dow AgroSciences—or at least for its 1,200 local employees—a buyer like that would be a godsend. […]
Republic growth strategy fraught with risk
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.
A.J. Gallagher & Co. strikes again, hires two more benefits brokers
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.
Ice Miller still in merger talks with Louisville law firm
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.
Express Scripts closer to $4.7B WellPoint deal
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.
With pharma famine looming, Lilly relying on snack-size deals
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.
Ritter’s buyer retools custard chain
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.
White River Capital negotiating new terms for its First Chicago Bancorp merger
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.