Business

Murdock to announce "gift in perpetuity" to research institute

September 30, 2014

(The Salisbury Post)

David Murdock, chairman and CEO of Dole Food Co., will announce an ongoing gift to the Kannapolis research institute he founded. Murdock has invested more than $800 million in the North Carolina Research Campus he established in 2005, which is home to the the David H. Murdock Research Institute and about 20 academic, technology and health-care organizations.

BofA fined $7.6 million for overstating capital ratios

September 30, 2014

(The Charlotte Observer)

Bank of America will pay a $7.65 million penalty over its miscalculation of capital ratios in a securities filing earlier this year. The Charlotte-based bank said the accounting errors stemmed from its 2009 acquisition of Merrill Lynch.

New hospital in Hoke County nears completion

September 30, 2014

(The Fayetteville Observer)

A new 41-bed hospital is expected to open in Hoke County in February, and administrators are busy recruiting physicians, nurses and other hospital personnel. Hoke Healthcare is owned by Fayetteville-based Cape Fear Valley Health.

Allergan shareholders urge board to delay decision on Salix acquistion

September 30, 2014

(The News & Observer, Raleigh)

Two of Allergan's largest shareholders sent letters to the company's board advising them against making a deal to acquire Raleigh-based Salix Pharmaceuticals before a Dec. 18 shareholder meeting. The Irvine, Calif.-based company is said to be pursuing the Salix acquisition to fend off a hostile takeover by Canada-based Valeant Pharmaceuticals.

Family Dollar: States plan to investigate Dollar General deal

September 30, 2014

(The Charlotte Observer)

In a filing with the Securities and Exchange Commission, Family Dollar says several state attorneys general have told the Matthews-based retailer they will investigate a potential merger with Dollar General over effects the combined company would have on competition.

Wall promoted to senior VP at NewBridge Bank

September 30, 2014

(Winston-Salem Journal)

Greensboro-based NewBridge Bank named Trent Wall senior vice president. A commercial loan officer with 10 years of experience, Wall will be in charge of business development for the Winston-Salem area.

Lenovo to complete acquisition of IBM server unit Wednesday

September 29, 2014

(WRAL TechWire)

About 2,000 Triangle IBM workers will be become Lenovo employees when the computer-maker completes its $2.1 billion acquisition of IBM's low-end server unit on Wednesday. Beijing-based Lenovo, which has its North American headquarters in Morrisville, will move from No. 9 to No. 3 among server manufacturers, behind only Hewlett Packard Co. and Dell Inc. 

Canadian company to acquire Wilson forging operation, add 125 jobs

September 29, 2014

(The Wilson Times)

Canada-based Linamar Corp. will buy Carolina Forge Co. in Wilson and plans to invest $40 million in the automotive-components machining company. Linamar is eligible for more than $2.5 million in state and local incentives if it keeps its current 145 jobs and adds 125 more by the end of 2019. 

Mitchell County wood-stove manufacturer expands product lines

September 29, 2014

(Asheville Citizen-Times)

The nation's oldest privately-held wood-stove company has expanded its offerings to include patio furniture, fire pits and other outdoor furnishings. Spruce Pine-based Buck Stove, which last year laid off workers for the first time in its 40-year history, has rehired those employees and plans to hire 30 to 50 more.

Chiquita raises value for shareholders in proposed Fyffes merger

September 29, 2014

(The Charlotte Observer)

Charlotte-based Chiquita Brands International and Irish produce company Fyffes revised the terms of their merger agreement to try to win shareholder support. Shareholders will now receive almost 60% of the combined company's stock, up from just over 50% according to the previous agreement.