Triangle

Analysts: Salix may be open to being acquired

January 7, 2015

(The News & Observer, Raleigh)

The retirement of Salix Pharmaceuticals CEO Carolyn Logan could mean the company is open to being acquired, a pair of analysts said Tuesday. The Raleigh-based drugmaker was said to be in talks with several potential acquirers prior to November, before Salix announced it had misstated drug inventory levels and CFO Adam Derbyshire resigned.

Lenovo offers buyouts to veteran employees

January 7, 2015

(WRAL TechWire)

Lenovo is offering buyouts to an undisclosed number of veteran workers. The world's top PC manufacturer, which has its North American headquarters in Morrisville, saw its workforce grow by more than 10% following 2014 acquisitions of IBM's x86 server unit and Google Motorola Mobility's smartphone unit. 

Salix CEO to retire

January 6, 2015

(The Wall Street Journal)

Carolyn Logan will retire as CEO of Raleigh-based Salix Pharmaceuticals by the end of January. The drug maker announced an inventory audit last fall following a report distributors were holding high amounts of its drugs, and CFO Adam Derbyshire stepped down in November. Logan has been CEO since 2002.

Lee County commissioners oppose Duke's coal-ash disposal plan

January 6, 2015

(The News & Observer, Raleigh)

The Lee County Board of Commissioners approved a resolution saying Duke Energy's plan to dispose of coal ash at a local clay mine would create environmental risk and cause economic hardship. 

Lenovo introduces new ThinkPad products

January 6, 2015

(The News & Observer, Raleigh)

To commemorate the sale of its 100 millionth ThinkPad computer, Lenovo is introducing new ThinkPad products, including a third-generation X1 Carbon laptop that will go on sale later this month.

Boston-based investor pays $77M for Durham apartments

January 5, 2015

(The News & Observer, Raleigh)

Boston-based Berkshire Group paid $77 million – $254,000 per unit – for Durham's Crescent Ninth Street apartment community. Last month, Berkshire set a Triangle record when it bought Crescent Cameron Village for $76.8 million, or $272,000 per unit. The apartments are part of a nine-property portfolio Berkshire is buying from Charlotte-based Crescent Communities.

Second media report says Mercedes-Benz looking at Triangle

December 24, 2014

(The News & Observer, Raleigh)

The Detroit News reported that Mercedes-Benz USA is considering the Triangle or Atlanta for a headquarters relocation. The auto-maker employs about 1,000 people in Montvale, N.J. The Wall Street Journal reported last week the company was looking at Atlanta and North Carolina, but did not specifically mention the Triangle.

Durham's BioCryst gets FDA approval for flu drug

December 23, 2014

(The News & Observer, Raleigh)

BioCryst Pharmaceuticals received FDA approval for Permavir, the first new flu drug approved in 15 years, the company said. It's the Durham-based company's first full FDA approval for a drug. 

Raleigh's N&O considers sale of downtown headquarters

December 23, 2014

(The News & Observer, Raleigh)

The publisher of The News & Observer is reviewing proposals from potential buyers of its 3.5-acre site in downtown Raleigh, where it employs about 300 people. Orage Quarles says he hopes to keep the newspaper's offices downtown if the property is sold.

Raleigh apartments sell for record $76.8M

December 22, 2014

(The News & Observer, Raleigh)

A 282-unit apartment complex in Raleigh's Cameron Village has sold for $76.8 million, or $272,000 per unit. Crescent Cameron Village, which includes 19,000 square feet of retail, is part of a $700 million portfolio sale announced by Charlotte-based Crescent Communities in October. The buyer is Boston-based Berkshire Property Advisors.

Canadian chain to buy The Pantry for $860M

December 19, 2014

(The News & Observer, Raleigh)

Canada-based Alimentation Couche-Tard, which operates in the U.S. mostly as Circle K, will acquire The Pantry in a deal that, including The Pantry's debt, is valued at $1.7 billion. Cary-based Pantry operates 1,513 convenience stores – most under the Kangaroo Express banner – in 13 Southeastern states.

Durham's Phononic raises $44.5 million

December 19, 2014

(The News & Observer, Raleigh)

Durham-based Phononic raised $44.5 million in venture-capital funding. The company sells energy-efficient cooling and refrigeration products that are made in Durham. Phononic plans to use the proceeds to increase manufacturing and for sales and marketing. It's the largest round of venture-capital funding raised by a Triangle company this year. 

Pantry stock soars amid rumors of sale

December 18, 2014

(The Charlotte Observer)

Shares of The Pantry rose 23% on Wednesday following a Wall Street Journal report that the company was close to being sold. The Cary-based company operates about 1,500 convenience stores in thirteen states, mostly under the Kangaroo Express brand. The Pantry reported fourth-quarter profits of $15.4 million, compared with $1.4 million for the same period a year ago.

RTP to unveil redevelopment site plan Jan. 15

December 18, 2014

(WRAL TechWire)

The Research Triangle Park Foundation will unveil the first phase of its 100-acre redevelopment project it says could eventually create 100,000 jobs. RTP describes "The Frontier" as " the Triangle's newest meeting spot for those looking for a place to plug in, or a new office location."

Cary's The Pantry nearing deal to be sold

December 17, 2014

(The Wall Street Journal)

Cary-based The Pantry, which operates more than 1,500 convenience stores primarily under the Kangaroo Express banner, has hired an investment bank to solicit bids for the company. A buyer could be announced within days, according to people familiar with the matter.

Salix announces revised inventory-reduction schedule

December 17, 2014

(The News & Observer, Raleigh)

Salix Pharmaceuticals announced it will accelerate a planned inventory reduction of three of its drugs. The Raleigh-based pharmaceutical, which makes treatments for gastrointestinal illnesses, will reduce inventories of three drugs by the end of 2015 – a year earlier than it had previously announced. Company shares rose 7% following the announcement.

Developers reject proposal to reroute pipeline in Johnston Co.

December 17, 2014

(The News & Observer, Raleigh)

Developers of the 538-mile Atlantic Coast Pipeline denied a request by Johnston County officials to reroute the proposed pipeline closer to an industrial park. The new route would have crossed 239 parcels instead of 163. Richmond-based Dominion Resources is developing the natural-gas pipeline in a joint venture with Duke Energy, Piedmont Natural Gas and Atlanta-based AGL Resources.

Cary partners with SAS on water-monitoring project

December 15, 2014

(WRAL TechWire)

Cary officials say the town will save an estimated $10 million a year through a new $17.9 million system that monitors water usage. Powered by locally-based SAS Institute, the system will provide residents with customized water-usage alerts and will help town officials identify abnormal spikes in water usage.

DA Davidson initiates coverage of Raleigh's Highwoods

December 15, 2014

(The News & Observer, Raleigh)

Analysts with investment firm D.A. Davidson have initiated coverage of Highwoods Properties, giving the Raleigh-based real-estate investment trust a "buy" rating and putting a 12- to 18-month target price of $50 on its stock.

Durham tech company creates code school to develop local talent

December 15, 2014

(The News & Observer, Raleigh)

Durham-based tech startup Smashing Boxes partnered with South Carolina-based The Iron Yard to start a software code school at American Underground's Durham campus. The website and app-development company's founders created the code school because of difficulty finding talented workers.