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Merger

NEWS
By Colin Campbell, The Baltimore Sun | April 16, 2014
Hunt Valley-based PSA Insurance & Financial Services announced Wednesday a $3 million merger with Armada Employer Services, a retail employee benefit consulting and human resources firm. Armada Employer Services, which is also headquartered in Hunt Valley, is a division of ArmadaCorp, an insurance and health care services business. As part of the merger, PSA will partner with ArmadaAdministrators, one of Armada's other divisions, to provide both companies' clients with access to Armada's administration services, the release said.
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BUSINESS
By Lorraine Mirabella, The Baltimore Sun | April 10, 2014
NBRS Financial Bank, an independent community bank serving Cecil and Harford counties, has been given 60 days to sell itself or combine with another bank and increase equity by selling shares, federal regulators said. The bank was found to have been undercapitalized as of Oct. 28 but has not filed a required plan to shore up its operations, according to a directive issued Monday by the Federal Reserve System's board of governors. NBRS, founded in 1873 and originally chartered as The Evans and Wood Bank, now has six branches and $199.3 million in deposits.
NEWS
By Ev Ehrlich | March 4, 2014
The proposed merger between Comcast and Time Warner highlights the vast gap between the imagined world the broadband industry's critics and the real world in which these companies must compete. For years, the critics have advocated forcing companies such as Verizon and Comcast to share their infrastructure with their competitors or mandating that the broadband market only offer one level of service. Their argument is that America's broadband is gripped by a "cable/telco duopoly" that uses its market power to slow innovation and gouge the consumer.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | February 28, 2014
Men's Wearhouse said Friday it is ready to meet with Jos. A. Bank Clothiers to discuss a merger, a day after Hampstead-based Bank said it's willing to hear how much more the larger chain would boost its acquisition bid. "The Men's Wearhouse board believes that the acquisition of Jos. A. Bank by Men's Wearhouse has strategic logic and the potential to deliver substantial benefits to our respective shareholders, employees and customers," Men's Wearhouse...
BUSINESS
By Lorraine Mirabella and Colin Campbell, The Baltimore Sun | February 27, 2014
The first crack in Jos. A. Bank Clothier's resolve to remain independent emerged Thursday as the menswear retailer rejected Men's Wearhouse's increased hostile takeover offer but said it would meet with its rival to discuss a merger. Men's Wearhouse raised its offer for Hampstead-based Bank to $63.50 per share from $57.50 per share on Monday and said it would consider an increase to $65 per share if Bank provides access to its financial information. That offer depends upon Bank ending an agreement reached two weeks ago to buy outdoor apparel retailer Eddie Bauer for $825 million in cash and stock.
BUSINESS
Lorraine Mirabella | February 5, 2014
The seemingly endless battle of the suit sellers - Jos. A. Bank Clothiers and Men's Wearhouse - caught the attention of Jerry Seinfeld, and the comedian is  fascinated and amused. The former Seinfeld star and co-creator was asked about the huge merger fight between the nation's two biggest men's apparel chains during a CBS interview Tuesday. "Jos. A. Bank - could they advertise more? Could they sell less?" Seinfeld said on BuzzFeed Brews on CBS This Morning. "They're just like, 'We'll give you three suits for $8. We'll give you… Just take it. Just take it, and get it out of here.'" Men's Wearhouse, the bigger of the two rivals, took an equal amount of ribbing.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | February 3, 2014
As the prospect of a $1.6 billion merger between Jos. A. Bank Clothiers Inc. and Men's Wearhouse dimmed, investors retrenched Monday, pushing down shares of both retailers much further than the broader market decline. The market reacted after a weekend in which Hampstead-based Jos. A. Bank rejected a Men's Wearhouse request to negotiate. Bank also raised antitrust concerns in a letter sent Sunday to Men's Wearhouse CEO Douglas S. Ewert, after the Federal Trade Commission questioned the merger.
BUSINESS
By Kevin Rector, The Baltimore Sun | January 29, 2014
The editors of many local Patch websites were among a large number of employees reportedly laid off by the news company Wednesday, under a national "restructuring" by its new owner. Investment holding company Hale Global agreed to assume majority ownership of Patch from AOL earlier this month. The exact toll among Maryland's sites remained unclear, but several local editors confirmed — some on the condition of anonymity — that they had been let go. Some employees still were waiting Wednesday to see what the conditions of their severance would be, and if it would include a non-disclosure clause.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | January 14, 2014
A large shareholder that is pushing Hampstead-based Jos. A. Bank Clothiers Inc. to negotiate with suitor Men's Wearhouse plans to nominate two company directors at Bank's annual shareholder meeting. Eminence Capital LLC, a New York hedge fund that owns 4.9 percent of Bank stock and is the largest Men's Wearhouse shareholder, asked a Delaware court Monday to force Jos. Bank to consider the rival chain's $1.61 billion hostile bid and to block Bank from acquiring another retailer to derail the bid. Eminence plans to nominate to the board two "highly-qualified, retail industry experts who will be committed to maximizing shareholder value," Ricky C. Sandler, Eminence CEO, said Tuesday in a statement.
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