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Merger

BUSINESS
By Lorraine Mirabella, The Baltimore Sun | December 9, 2013
A merger of the top two U.S. food distributors, Sysco and US Foods, could mean cutbacks at facilities in Severn and Jessup that employ hundreds of workers and sit fewer than 10 miles apart as a combined company consolidates operations across the United States. Sysco Corp. announced Monday that it plans to buy US Foods Inc., based in Columbia until a 2007 buyout, for about $3.5 billion in a deal that will create a company commanding at least a quarter of the $235 billion North American market.
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HEALTH
By Andrea K. Walker, The Baltimore Sun | December 9, 2013
The University of Maryland Medical System has completed its merger with Upper Chesapeake Health in Harford County, four years after the medical institutions agreed to affiliate. Upper Chesapeake includes the 185-bed Upper Chesapeake Medical Center in Bel Air and the 89-bed Harford Memorial Hospital in Havre de Grace. The health system is now named University of Maryland Upper Chesapeake Health under the merger. Since partnering, UMMS has brought more specialty services to Harford County's fast-growing populations, which now stands at 248,000 residents.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | November 12, 2013
Jos. A Bank Clothier's bid for Men's Wearhouse gained new life Tuesday. Under pressure from its largest shareholder, Men's Wearhouse may reconsider a bid to merge with Jos. A. Bank Clothiers Inc. Houston-based Men's Wearhouse is asking its financial advisers to review Jos. Bank's $2.3 billion offer, according to a letter from Eminence Capital, which owns 9.8 percent of the chain's common stock. Last week, the New York hedge fund demanded the company consider Bank's acquisition proposal, which Men's Wearhouse previously rejected as too low. The advisers will present the proposal and other potential options to the Men's Wearhouse board, according to the letter from Eminence CEO Ricky C. Sandler to Men's Wearhouse CEO Doug Ewert, which was released Tuesday.
NEWS
By Carrie Wells, The Baltimore Sun | October 8, 2013
A federal judge ruled Monday that Maryland hasn't done enough to help the state's four historically black colleges and universities overcome segregation-era policies that required separate programs for white and black students. In the ruling, U.S. District Judge Catherine Blake found that state universities have continued to unnecessarily duplicate the programs of the four historically black institutions, violating the constitutional rights of those students. Plaintiffs had argued that the historically black colleges were hurt because neighboring institutions offered similar programs, siphoning away students.
NEWS
July 25, 2013
July 25 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday: ** Dell Inc founder Michael Dell raised his $24.4 billion bid by less than 1 percent just hours before it was to be put to a vote, tacking on a controversial demand to change voting rules to make it easier for him to buy and take the No. 3 personal computer maker private. ** Publisher Axel Springer AG struck a 920-million-euro ($1.22 billion) deal to sell some of Germany's best-known newspapers and magazines, severing its oldest roots to intensify its focus on digital media.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | June 17, 2013
In less than a week, three bank acquisitions, one involving the parent of Baltimore County Savings Bank, have been announced in the Mid-Atlantic region. The burst of activity suggests the start of a long-anticipated wave of mergers. "The industry has been anticipating a tipping point in regards to mergers and acquisitions," said Anita Newcomb, a Columbia-based banking consultant. "Still, it's difficult to say if this is the tipping point. " At the end of March, Maryland had 77 banks, and only 14 had assets of at least $500 million, a size that many banking experts say is needed to thrive in a climate with increasing regulation and stiff competition.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | May 22, 2013
Legg Mason Inc. has lost two key employees of its Legg Mason Capital Management, including portfolio manager Mary Chris Gay. Gay, manager of an overseas version of the subsidiary's well-known Value Trust fund, and Randy Befumo, head of research at Legg Mason Capital Management, left May 15 and are "pursuing other opportunities," said spokeswoman Mary Athridge. Sam Peters, manager of the Value Trust fund in the United States, last week replaced Gay as manager of the Value Fund that is modeled after the Value Trust.
NEWS
By Tricia Bishop, The Baltimore Sun | April 30, 2013
While the University of Maryland won't be able to reap most of the rewards of joining the Big Ten athletic conference until the move becomes official in July 2014, it will start benefiting from its academic counterpart — the Committee on Institutional Cooperation — this year. Officials from the university and the CIC met this week in College Park to start hammering out the details in preparation for this July, when Maryland and Rutgers University are set to join the 13-member cooperative, which includes the 12 Big Ten schools plus the University of Chicago.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | April 22, 2013
Jefferson Bancorp Inc., parent of Lutherville-based Bay Bank, said Monday it had completed its acquisition of Carrollton Bancorp, the holding company of Columbia-based Carrollton Bank. The $25 million stock-cash deal included the repayment of $9.1 million from the Troubled Asset Relief Program, a federal program created more than four years ago to support banks during the financial crisis. The combined bank operations have total assets of about $480 million and a dozen branches. Under the merged operations, Carrollton's former 10 branches - from Anne Arundel County to Harford County - now bear the name of Bay Bank.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | January 22, 2013
Valorie Cooley was "in a really bad place" a year ago, with a broken furnace and past-due heating bills she couldn't pay. Now her Baltimore home has a new furnace and a raft of energy-efficient improvements - including insulation in the attic and caulking around the windows - that pulled her Baltimore Gas and Electric Co. bill down to a level she can afford. All coordinated by city government. That's one example of how Baltimore agencies have attacked energy costs in recent years - their own as well as residents' and businesses'.
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