Triangle

Analysts say Valeant's all-cash bid for Salix more appealing

March 13, 2015

(The News & Observer, Raleigh)

Analysts said Thursday that shareholders of Raleigh-based Salix Pharmaceuticals are likely to find Valeant Pharmaceuticals all-cash offer more appealing than Endo International's rival offer. Endo offered $175 per share in a stock and cash deal, while Valeant reached a deal last month to acquire Salix for $158 per share in cash. Canada-based Valeant expects the deal to close on April 1.

Raleigh-based Salix receives rival takeover bid

March 12, 2015

(The News & Observer, Raleigh)

Endo International has made a takeover bid for Salix Pharmaceuticals for $175 per share in cash and stock. Salix reached a deal last month for Canada-based Valeant Pharmaceuticals to acquire the company for $158 a share in cash. Endo, which has made six acquisitions since February 2014, moved its headquarters from Pennsylvania to Dublin last year.

Pantry shareholders approve acquisition deal

March 12, 2015

(The News & Observer, Raleigh)

Shareholders of Cary-based The Pantry approved Alimentation Couche-Tard's proposed $1.7 billion acquisition of the company. The Pantry operates 1,509 stores in 13 states, mostly under the Kangaroo Express brand. Couche-Tard has 6,303 stores in North America. Most of its U.S. stores operate as Circle K.

Patheon to acquire Oregon pharmaceutical company

March 10, 2015

(The News & Observer, Raleigh)

Durham-based Patheon announced it will acquire Agere Pharmaceuticals, a Bend, Ore.-based company that will help it improve drug-absorption rates in patients. It's Patheon's second acquisition announced in the past week; the company said last week it was buying South Carolina-based drugmaker IRIX for an undisclosed amount. 

Food Lion to remodel Raleigh, Fayetteville stores

March 9, 2015

(WRAL.com)

Food Lion will remodel all of its grocery stores in the Raleigh area between April and October. The Salisbury-based company remodeled 76 stores in the Greenville and Wilmington markets in 2014.
Also: Food Lion remodeling its 25 Fayetteville stores this year

MaxPoint shares trade lower than expected

March 9, 2015

(WRAL TechWire)

MaxPoint Interactive raised $75 million in its initial public offering Friday. The digital-marketing company, which helps companies determine the best neighborhoods to sell their products, priced 6.5 million shares at $11.50, the mid-point of the range reported in SEC filings.  

Cary's SAS, Kimley-Horn make Fortune's list of best companies

March 6, 2015

(The News & Observer, Raleigh)

SAS slipped two spots to No. 4 on Fortune magazine's annual list of the best U.S. companies to work for. The Cary-based software company has appeared in the top 10 a dozen times and ranked second last year. Kimley-Horn and Associates, also based in Cary, was the only other North Carolina-based company on the list. The design consulting firm ranked No. 25.

Durham's Patheon to buy SC drugmaker

March 5, 2015

(The News & Observer, Raleigh)

Patheon will acquire South Carolina-based IRIX Pharmaceuticals for an undisclosed amount. IRIX employs 180 people at sites in Florence and Greenville, S.C. Durham-based Patheon employs about 1,700 people in North Carolina and more than 8,000 worldwide.

Woodlake Resort and Country Club to be sold at auction

March 4, 2015

(The Fayetteville Observer)

Woodlake Resort and County Club, located in Moore County between Vass and Spring Lake, will go up for auction March 26 with a suggested opening bid of $2.5 million. Developed in 1968, the financially troubled club filed for bankruptcy protection in September.

Durham's Square 1 Bank to be acquired by PacWest

March 3, 2015

(The News & Observer, Raleigh)

Square 1 Bank will be acquired by Los Angeles-based Pacific West Bank in an all-stock deal valued at $849 million. The Durham-based bank, which went public a year ago, has assets of about $3 billion and about a dozen loan-production offices nationwide. Square 1 will keep its name and will operate as a division of PacWest.  

Biotech industry growing in NC

March 3, 2015

(WRAL TechWire)

Employment in the biotech industry increased by more than 30% between 2000 and 2012, according to a report from research firm Battelle. The sector produces $73 billion and is responsible for 61,000 jobs with an average annual salary of $81,000.
Related: NC biotech startups share global spotlight in Raleigh

GSK, Novartis exchange assets in $21B deal

March 2, 2015

(WRAL TechWire)

GlaxoSmithKline and Novartis have completed a $21 billion deal that makes London-based GSK the world's largest vaccine supplier. Under the terms of the deal, Novartis is acquiring GSK's oncology drug pipeline while GSK acquires Novartis' global vaccine business.  

Shareholder advisory firms give thumbs up to Pantry sale

February 27, 2015

(The News & Observer, Raleigh)

Institutional Shareholder Services and Glass Lewis & Co. recommend that shareholders of The Pantry approve its pending sale to Alimentation Couche-Tard. Cary-based The Pantry operates more than 1,500 convenience stores in 13 states, primarily under the Kangaroo Express brand. Couche-Tard has 6,303 convenience stores in North America. Most of its U.S. stores operate as Circle K.

Lenovo's website hacked following adware controversy

February 26, 2015

(WRAL TechWire)

A hacker group called Lizard Squad said they are responsible for hacking Lenovo's website Wednesday evening. The Beijing-based computer-maker, which has its North American headquarters in Morrisville, came under fire last week when it was discovered that it had pre-installed malicious adware on some of its laptop computers.

Lenovo issues apology over adware

February 24, 2015

(WRAL TechWire)

Lenovo's chief technology officer apologized to customers about the Superfish adware the computer-maker pre-installed on laptops between September 2014 and January 2015. The company, which has its North American headquarters in Morrisville, first said the adware posed no security risk then later changed its statement and now calls the risk "severe."

Morrisville's MaxPoint details plans for IPO

February 24, 2015

(The News & Observer, Raleigh)

Morrisville-based MaxPoint Interactive hopes to sell 6.5 million shares priced between $10.50 and $12.50 each in its initial public offering, according to a regulatory filing Monday. The digital-marketing company helps clients determine the best neighborhoods to market their products.

Allegiant Air begins service from RDU to Florida

February 24, 2015

(The News & Observer, Raleigh)

Low-cost carrier Allegiant Air will begin twice-weekly service from Raleigh-Durham International Airport to three Florida airports. The Las Vegas-based airline will begin flights to St. Pete-Clearwater on May 6 and to Orlando-Sanford and Punta Gorda on May 7. Introductory fares ranging from $44 to $54 are being offered to passengers who book trips by Wednesday. 

Valeant to acquire Raleigh's Salix for $10 billion

February 23, 2015

(WRAL.com, Raleigh)

Valeant Pharmaceuticals will acquire Raleigh-based Salix Pharmaceuticals for approximately $10 billion, or $158 per share. Including debt, the all-cash deal is valued at about $14.5 billion. Laval, Quebec-based Valeant makes prescription and over-the-counter eye- and skincare products. Salix develops drugs to treat gastrointestinal illnesses. The deal is expected to close in the second quarter.

Shalag expanding, creating 40 jobs in Granville County

February 23, 2015

(The News & Observer, Raleigh)

Shalag Industries will invest $16 million in an expansion of its Oxford manufacturing plant and plans to add 40 jobs to its existing 74 over three years. The Israel-based company makes non-woven materials for baby diapers and medical and industrial wipes.

Reports say Lenovo adware may cause security issues

February 19, 2015

(WRAL TechWire)

Global media outlets are reporting that some Lenovo laptops are preloaded with malicious software that could pose a security threat. The security hole is related to Superfish, an adware program the world's No. 1 PC maker pre-installed on some of its computers.