Business

Valeant wins bidding war for Raleigh-based Salix

March 17, 2015

(The News & Observer, Raleigh)

Endo International withdrew its bid for Raleigh-based Salix Pharmaceuticals on Monday after Valeant Pharmaceuticals raised its bid from $158 per share to $173 per share. Including debt, the revised deal is valued at $15.8 billion and is expected to close April 1.

Susquehanna shareholders approve BB&T merger

March 17, 2015

(Winston-Salem Journal)

Shareholders of Lititz, Pa.-based Susquehanna Bancshares approved Friday a proposed merger with BB&T. The $2.5 billion deal, in which Winston-Salem-based BB&T will acquire 245 branches in Pennsylvania, Maryland, New Jersey and West Virginia, is expected to close in the second quarter.

New Hanover approves road-work funds for Vertex Rail

March 17, 2015

(Greater Wilmington Business Journal)

New Hanover county commissioners approved contributing $300,000 toward a $1.5 million road-improvement project to accommodate rail-car maker Vertex Rail Technologies. The city of Wilmington already approved spending $300,000 and the N.C. Department of Transportation will provide the remaining $900,000. Vertex plans to create 1,300 jobs at its local plant.

Charlotte City Council considers proposal for Golf Links property

March 17, 2015

(The Charlotte Observer)

Lincoln Harris appears to face little opposition to its plans to develop a 194-acre site that was home to the Charlotte Golf Links in south Charlotte. Plans for the development, which sits across Providence Road from Childress Klein's Waverly development that is under construction, include up to 1,000 housing units, up to 700,000 square feet of office space and possibly a K-8 public school.
Related: Major mixed-use development planned at I-485 and Brookshire Boulevard

Hanesbrands moves to S&P500

March 17, 2015

(Winston-Salem Journal)

Beginning Friday, Winston-Salem-based Hanesbrands will replace Avon Products on the S&P 500 index. The change from the S&P Midcap 400 was based on the company's market capitalization, which was $13.1 billion as of Monday. The apparel company reported Monday that CEO Richard Noll received a 9.1% salary increase for fiscal 2014.

JCPenney closing Wilson store, three others

March 17, 2015

(The Wilson Times)

The JCPenney store in Wilson is one of four in North Carolina and 39 nationwide that will close April 4 due to lagging sales. About 65 workers will be affected by the store closing. JCPenney opened in Wilson in 1939.

AOL founder Steve Case looks to invest in Triangle startup

March 17, 2015

(WRAL TechWire)

Steve Case, co-founder and former CEO of America Online, plans to invest $100,000 in a Triangle startup as part of his third "Rise of the Rest" tour. Case will visit six cities in early May and plans to invest $100,000 at each stop.

BB&T cuts pay for CEO, other top executives

March 17, 2015

(The Charlotte Observer)

Compensation fell for BB&T's top executives after the bank's performance for return on common equity fell below what was projected. In a securities filing on Monday, the Winston-Salem-based bank said it lowered the maximum cash bonuses for top executives from 150% to 125% of their base salary. CEO Kelly King's compensation fell 8.2% to $7.2 million.

Buncombe commissioners to discuss economic-development project

March 17, 2015

(Asheville Citizen-Times)

Buncombe County commissioners will meet in a closed session Tuesday to discuss an undisclosed economic-development issue. Following the meeting, the commissioners will begin a retreat to talk about zoning and land issues, economic development and the county's 2016 budget.

Valeant plans to raise offer for Salix

March 16, 2015

(The News & Observer, Raleigh)

Valeant Pharmaceuticals plans to increase its cash offer for Salix Pharmaceuticals from $158 a share to more than $160 a share, according to a New York Times report. Endo International last week submitted a competing bid for Raleigh-based Salix at $175 a share, mostly in stock.