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BUSINESS
By Gus G. Sentementes | December 21, 2010
From the BaltTech blog: Royal DSM N.V., a Dutch life and materials sciences company, today made a $1.1 billion cash offer for Martek Biosciences Corp. of Columbia in a deal that represents a 35 percent premium over its stock. Board members from both companies have approved the acquisition of Martek, a company that was founded in Maryland 25 years ago by a group of scientists who spun off from the Martin Marietta Corp. The purchase is based on a 35 percent premium of Martek's closing price of $23.36 on Monday.
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BUSINESS
By Jay Hancock | January 9, 2011
It's nice — but rare — when shares of both companies rise on the announcement of a corporate takeover. Last month, DSM NV said it would buy Columbia-based Martek Biosciences for $1.1 billion in cash. Not only did Martek stock pop by more than 30 percent, reflecting the premium that Netherlands-based DSM agreed to pay over the shares' pre-announcement price; DSM rose by 4 percent, suggesting that its shareholders see the deal as sensible business and not a quixotic power grab by DSM boss Feike Sijbesma.
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BUSINESS
March 3, 2009
Injunction halts lower taxi mileage rates A Baltimore Circuit Court judge has granted a group of Baltimore taxi drivers a temporary injunction to stop the state Public Service Commission from making lower mileage rates effective Sunday, a representative of the group said yesterday. Rates were set to decrease from $2.20 per mile to $1.65 March 1, an automatic adjustment based on a twice-annual review of gas prices in January and July. A flat rate from downtown hotels to BWI Marshall Airport would also decrease from $30 to $22. Two cab companies have petitioned the PSC, which regulates taxi rates in Baltimore, Baltimore County and Cumberland, to keep mileage rates the same.
BUSINESS
By Gus G. Sentementes | December 21, 2010
From the BaltTech blog: Royal DSM N.V., a Dutch life and materials sciences company, today made a $1.1 billion cash offer for Martek Biosciences Corp. of Columbia in a deal that represents a 35 percent premium over its stock. Board members from both companies have approved the acquisition of Martek, a company that was founded in Maryland 25 years ago by a group of scientists who spun off from the Martin Marietta Corp. The purchase is based on a 35 percent premium of Martek's closing price of $23.36 on Monday.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN STAFF | July 11, 2002
The federal Food and Drug Administration has approved a formula for premature babies that uses a blend of nutrients created by Columbia-based Martek Biosciences Corp. The formula, Enfamil Premature LIPIL, is made by Mead Johnson Nutritionals using two Martek nutrients that are the building blocks of a baby's eyes and brain. Analysts said yesterday that approval of the formula won't have an immediate effect on Martek's finances but that it could benefit the company later. "The premature market is so small that this won't have a significant impact on finances right now, but with the strength of these ingredients, I would expect to see it in all formulas in the future," said Scott Van Winkle, an analyst with Boston-based Adams, Harkness & Hill.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | October 7, 1998
Martek Biosciences Corp. of Columbia said yesterday that Iams Co. has agreed to begin including Martek's nutritional oils as an additive in its Eukanuba brand of puppy and kitten nutrition formulas.But that upbeat announcement was tempered by the news that a panel of nutritional experts told the Food and Drug Administration that it saw no reason to require including any new additives in infant formulas, including two oils that Martek makes and has been hoping to see break into the U.S. infant formula market.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | May 19, 2001
Shares of Martek Biosciences Corp. gained nearly 22.5 percent yesterday after the Food and Drug Administration cleared the way for the company's nutritional oil blend to be included in infant formulas sold in the United States. Shares of Martek gained $3.85 to close at $21. Since its 52-week low of $12 on Dec. 20, Martek shares have gained 75 percent. The stock's 52-week high was $24 in June. Infant formula companies still must alert the FDA if they are including the Martek oil blend in any products sold domestically.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | January 7, 1997
Shares in Martek Biosciences rose more than 10 percent to close at $24.50 yesterday on news that another health food company will market Neuromins, Martek's dietary supplement product, and that another infant formula maker has launched a product using Martek's nutritional oil additives.Martek, a Columbia-based company developing products using microalgae, also said yesterday that it struck an agreement with a Dutch biochemicals company to make an oil that Martek developed and markets as an infant formula additive.
BUSINESS
By Jay Hancock | January 9, 2011
It's nice — but rare — when shares of both companies rise on the announcement of a corporate takeover. Last month, DSM NV said it would buy Columbia-based Martek Biosciences for $1.1 billion in cash. Not only did Martek stock pop by more than 30 percent, reflecting the premium that Netherlands-based DSM agreed to pay over the shares' pre-announcement price; DSM rose by 4 percent, suggesting that its shareholders see the deal as sensible business and not a quixotic power grab by DSM boss Feike Sijbesma.
BUSINESS
By Kim Clark and Kim Clark,Staff Writer | September 11, 1993
Martek Biosciences Corp., a Columbia-based biotechnology company that is researching a formula additive made from algae that it says makes babies smarter, has announced it plans to go public.In a filing with the Securities and Exchange Commission, Martek said it would make an initial public offering of between 2.7 million and 3.1 million shares, for no more than $12 a share.The 55-employee company has not set a date or price for the offering.In its prospectus, the company said it may sell several million more shares in coming months.
BUSINESS
March 3, 2009
Injunction halts lower taxi mileage rates A Baltimore Circuit Court judge has granted a group of Baltimore taxi drivers a temporary injunction to stop the state Public Service Commission from making lower mileage rates effective Sunday, a representative of the group said yesterday. Rates were set to decrease from $2.20 per mile to $1.65 March 1, an automatic adjustment based on a twice-annual review of gas prices in January and July. A flat rate from downtown hotels to BWI Marshall Airport would also decrease from $30 to $22. Two cab companies have petitioned the PSC, which regulates taxi rates in Baltimore, Baltimore County and Cumberland, to keep mileage rates the same.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN STAFF | July 11, 2002
The federal Food and Drug Administration has approved a formula for premature babies that uses a blend of nutrients created by Columbia-based Martek Biosciences Corp. The formula, Enfamil Premature LIPIL, is made by Mead Johnson Nutritionals using two Martek nutrients that are the building blocks of a baby's eyes and brain. Analysts said yesterday that approval of the formula won't have an immediate effect on Martek's finances but that it could benefit the company later. "The premature market is so small that this won't have a significant impact on finances right now, but with the strength of these ingredients, I would expect to see it in all formulas in the future," said Scott Van Winkle, an analyst with Boston-based Adams, Harkness & Hill.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | May 19, 2001
Shares of Martek Biosciences Corp. gained nearly 22.5 percent yesterday after the Food and Drug Administration cleared the way for the company's nutritional oil blend to be included in infant formulas sold in the United States. Shares of Martek gained $3.85 to close at $21. Since its 52-week low of $12 on Dec. 20, Martek shares have gained 75 percent. The stock's 52-week high was $24 in June. Infant formula companies still must alert the FDA if they are including the Martek oil blend in any products sold domestically.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | October 7, 1998
Martek Biosciences Corp. of Columbia said yesterday that Iams Co. has agreed to begin including Martek's nutritional oils as an additive in its Eukanuba brand of puppy and kitten nutrition formulas.But that upbeat announcement was tempered by the news that a panel of nutritional experts told the Food and Drug Administration that it saw no reason to require including any new additives in infant formulas, including two oils that Martek makes and has been hoping to see break into the U.S. infant formula market.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | January 7, 1997
Shares in Martek Biosciences rose more than 10 percent to close at $24.50 yesterday on news that another health food company will market Neuromins, Martek's dietary supplement product, and that another infant formula maker has launched a product using Martek's nutritional oil additives.Martek, a Columbia-based company developing products using microalgae, also said yesterday that it struck an agreement with a Dutch biochemicals company to make an oil that Martek developed and markets as an infant formula additive.
BUSINESS
By Tricia Bishop and Tricia Bishop,SUN STAFF | January 13, 2005
Two pieces of news yesterday about the health benefits of DHA may benefit Martek Biosciences Corp., a Columbia company whose production of the omega-3 fatty acid has been a major force in the market for baby formula. A small-scale study, funded by the National Institutes of Health and released yesterday, showed that DHA could help prevent children with high cholesterol from developing heart disease. Meanwhile, new dietary guidelines from the U.S. Department of Agriculture also released yesterday claimed that DHA, which is found in shellfish and fish, may also help prevent cardiovascular disease.
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