Now it looks official
Posted on November 19, 2009 at 1:13 pmThough the merger that brought together law firms Bradley Arant Rose & White and Boult Cummings Conners & Berry was completed what feels like ages ago, the firms maintained separate Web sites until recently. Check out the shiny, new unified home of Bradley Arant Boult Cummings here.
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Nonprofit rebrands after merger
Posted on November 11, 2009 at 1:41 pmThe organization created last fall from the merger of the League for the Deaf and Hard of Hearing and the EAR Foundation has unveiled its new moniker, Hearing Bridges.
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The money comes through for purchase of Stones River Cos.
Posted on November 3, 2009 at 1:44 pmWhen an Ohio-based lighting systems maker inked a letter of intent last month to buy Madison-based electrical and lighting management provider Stones River Cos., there was reason to doubt the deal would ultimately go down as planned.
Not only did Energy Focus Inc. say it would have to raise $3.5 million on the capital markets in order to acquire the company, but it raised the specter of having to “cease operations or seek federal bankruptcy protection” without that cash.
Looks like the buyer dodged the bullet. Nasdaq-listed Energy Focus yesterday announced it has raised $3.75 million in the first round of a 5 million-share offering – a result so successful it no longer needs to float a second round. Although the company has not divulged what it is paying for Stones River, it said the offering’s main purpose was to fund the deal. It now expects to close on the purchase within 30 days.
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LifePoint Louisiana hospitals to merge
Posted on October 26, 2009 at 9:21 amTwo Louisiana hospitals owned by LifePoint (Ticker: LPNT) plan to merge and become a single health system, the Daily World reports. The two hospitals, which have a combined 147 beds, are located 18 miles apart in Eunice and Ville Platte.
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U.K. questions for Live Nation, Ticketmaster
Posted on October 9, 2009 at 7:30 amBritish competition regulators have issued a preliminary ruling against the proposed merger between Live Nation and Ticketmaster, saying the deal would limit the ability of a third concert ticket business player to compete. The two companies said they’ll gladly answer any questions, but made clear they are in a changed industry that is at a “decisive crossroad.”
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Good thing Emdeon and Cumberland went public last month
Posted on September 25, 2009 at 12:59 am
StreetInsider.com says the trickle of IPOs and secondary offerings has become a near-tidal wave that could quickly peter out as investors simply lose interest and look to digest what they’ve gorged on in recent weeks. Besides, all these firms raising millions will have to put that money to work sometime.
‘Maybe a little antacid, in the form of more M&A, could help us fight through the pain.’
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Hoosier deal done for Centerstone
Posted on August 10, 2009 at 2:26 pmLocally based behavioral health provider Centerstone has finalized its previously announced merger with the 6,000-patient Dunn Center in Richmond, Ind.
The boards of directors of Centerstone of America, Centerstone of Indiana and Dunn Center, recognized leaders in the not-for-profit behavioral healthcare industry, have unanimously approved the proposed affiliation of Centerstone of Indiana and Dunn Center. The two organizations are integrating their operations and will begin operating under the Centerstone name on September 1, 2009. The new Centerstone of Indiana will serve more than 24,000 individuals in central and southern Indiana seeking treatment for mental health and substance abuse issues.
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Memphis cotton giants mull merger
Posted on August 7, 2009 at 7:15 am
Allenberg and Dunavant, two of the biggest players in Memphis’ corporate scene, are in talks about combining their operations, a move that would create a company with more than $3 billion in sales and further shake up what has been a volatile sector of late.
At least three major merchants faced financial difficulties after the benchmark cotton price in New York jumped to a 12-year high in March 2008 and then plunged to the lowest since June 2002, according to Mike Stevens, a Swiss Financial Services analyst. The credit crisis and recession also worsened the situation as banks curbed lending, analysts said.
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Big deal with some local flavor
Posted on June 19, 2009 at 10:52 amYesterday’s news of the $1.29 billion merger between HLTH Corp. and WebMD has a local twist. The Nashville office of Raymond James’ investment banking group served as the financial advisor to HLTH. Of the merger, Raymond James managing director Riley Sweat said:
The merger will simplify the public equity structure by eliminating both the controlling interest in WebMD held by HLTH and the associated complexity of the WebMD dual-class stock structure. The transaction also will provide HLTH shareholders with direct ownership in WebMD, while substantially improving the trading float.
The deal was originally announced more than a year ago in Feb. 2008. In October, however, the struggling financial markets scuttled the original deal. The former local pieces of those companies now make up Emdeon.
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Harbert Mezzanine exits portfolio co.
Posted on May 19, 2009 at 1:35 pmHarbert Management Corp.’s Nashville-based Mezzanine Capital Investment Team has exited one of its portfolio companies. Louisville-based Hosting.com has been acquired by Denver’s HostMySite.
Hosting.com was advised in the transaction by Signal Hill Capital, which will soon open its first Nashville beachhead. Further details about the deal available here.
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Jack’s dad said to be in marriage talks
Posted on April 20, 2009 at 7:37 amThe Telegraph in England over the weekend reported that Brown-Forman, the parent company for Jack Daniel’s and Southern Comfort, is exploring a merger with Bacardi.
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And in no way would they abuse their status to impose unreasonable fees
Posted on February 3, 2009 at 10:12 pmFrom the Journal, courtesy of Coolfer: Concert and event promoters Ticketmaster and Live Nation are said to be close to agreeing on a merger. The news comes just a few months after Ticketmaster began toying with a model that included no convenience charges.
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South boasts highest number of law firm mergers
Posted on January 22, 2009 at 9:11 amRebekah Hearn reports:
Nationwide, law firm mergers and acquisitions jumped to 70 in 2008, according to a study by Altman Weil Inc., an independently owned law firm consulting agency. Nationally, Altman Weil recorded 60 mergers and acquisitions in 2007 – meaning 2008 saw a 17 percent increase.
Of all the regions, the South had the highest number of mergers last year with 22. That’s more than double the 10 mergers the South saw in 2007.
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Mich. firm absorbs Stewart Estes & Donnell
Posted on January 5, 2009 at 4:34 pmRegional megafirm Dickinson Wright, which was founded in 1878, has taken on the 19-attorney local firm, which will keep its Fifth Third Center offices.
Dickinson Wright, based in Michigan for more than 130 years, has broad expertise in all aspects of the automotive industry, and its expansion in Nashville will provide more direct and local service to many clients in the automotive sector. The combination also further enhances Dickinson Wright’s preeminent litigation, employment and product liability practices in the growing Southern market.
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IT group, search firm merge
Posted on January 1, 2009 at 10:29 pmWith the music industry as their main focus, locally based software developer Digome and MusicRowSearch have joined forces.
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