(Reuters) – The union trying to organize Boeing Co’s
South Carolina plant withdrew its petition for an April 22
election, citing “a toxic environment and gross violations of
workers’ lawful organizing rights.”
The decision, which delays the date for an election by at
least six months, was made after organizers for the
International Association of Machinists & Aerospace Workers
conducted home visits with more than 1,700 Boeing workers, the
union said in a statement on Friday.
April 10 (Reuters) – General Electric Co said it
plans to sell the bulk of its $30 billion real estate portfolio
over the next two years as it returns to its industrial roots,
and has set a share buyback plan of up to $50 billion – the
GE’s shares jumped about 7 percent in premarket trading on
Friday after the company said there was potential to return more
than $90 billion to investors through 2018.
(Reuters) – Lumber Liquidators Holdings Inc’s (LL.N: Quote, Profile, Research, Stock Buzz) quarterly sales topped analysts’ lowered expectations, indicating that the impact from allegations that its laminate flooring products were unsafe was fading.
The hardwood flooring retailer’s shares rose as much as 6.5 percent in volatile trading on Thursday.
(Reuters) – Simon Property Group Inc (SPG.N: Quote, Profile, Research, Stock Buzz) scrapped its attempt to buy Macerich Co (MAC.N: Quote, Profile, Research, Stock Buzz), ending what could have been the largest deal between U.S. shopping mall operators after Macerich rejected its sweetened offer of $23.2 billion including debt.
Shares of Macerich, which said the raised offer still undervalued the company, fell 5 percent to $80 in premarket trading on Wednesday.
March 20 (Reuters) – U.S. homebuilders are gearing up for a
sharp rise in demand this spring as Americans become more
confident about keeping their jobs and are encouraged by easing
access to credit.
Several homebuilders resorted to bigger discounts to attract
buyers during last year’s spring selling season, which is to the
builders what the holiday shopping season is to retailers.
(Reuters) – Simon Property Group Inc (SPG.N: Quote, Profile, Research, Stock Buzz), the No.1 U.S. mall owner, made what it said was its “best and final offer” for Macerich Co (MAC.N: Quote, Profile, Research, Stock Buzz) three days after its smaller rival rejected its initial proposal and adopted a poison pill takeover defense.
Simon Property raised its cash-and-stock offer for Macerich on Friday to $95.50 per share from $91.00, and said it would withdraw the offer, valued at $23.2 billion, if Macerich did not meet with the company by April 1.
March 20 (Reuters) – Simon Property Group Inc, the
No.1 U.S. mall owner, raised its offer for Macerich Co
three days after its smaller rival rejected its earlier
proposal, adopted a poison pill and changed board structure to
prevent a hostile takeover.
Simon Property raised on Friday its cash-and-stock offer for
Macerich to $95.50 per share from $91.00, and said it would
withdraw the offer, valued at $23.2 billion, on April 1 if
Macerich did not meet with the company.
(Reuters) – Macerich Co (MAC.N: Quote, Profile, Research, Stock Buzz), the third-largest U.S. shopping mall owner, rejected a $14.39 billion unsolicited offer from larger rival Simon Property Group Inc (SPG.N: Quote, Profile, Research, Stock Buzz), saying the proposal “substantially undervalues” the company.
Macerich also said on Tuesday it adopted a poison pill, or a shareholder rights plan, with a 10 percent trigger and changed its board structure to thwart a hostile takeover.
NEW YORK (Reuters) – United Technologies Corp’s (UTX.N: Quote, Profile, Research, Stock Buzz) chief executive officer said on Thursday that the company will spend $1 billion on acquisitions this year, “maybe a little bit more,” even as he eyes bigger targets.
United Technologies CEO Greg Hayes, speaking at investor day in New York where he detailed a potential split off of its Sikorsky helicopter unit, said that the acquisition climate was difficult due to high pricing.
March 9 (Reuters) – A brake problem may have caused a Delta
Air Lines Inc jet to skid off a runway at New York’s
LaGuardia Airport last week, according to testimony from the
flight’s crew, federal safety investigators said Monday.
The auto brakes were set to “max,” but the crew “did not
sense any wheel brake deceleration” before the plane crashed
into a fence, the National Transportation Safety Board said in a
statement. It added that the brake switch was found in the “max”
position during the investigation.