Updated story: Pacific Capital chief briefs shareholders on $500M deal
[Editor’s note: This story was updated at 3:20 p.m. April 29 with comments from Gerald Ford.] Hours after signing a $500 million deal that could transfer control of Pacific Capital Bancorp to a Texas billionaire’s firm, the banking company’s executives went before investors at its 50th annual shareholder meeting to explain the bold transaction that Read More →
Read More →CKE to be acquired by Apollo
Carpinteria-based CKE Restaurants announced April 24 that it will be acquired by an affiliate of Apollo Management. Under the terms of the agreement, CKE stockholders will receive $12.55 per share in cash, representing a 41 percent premium to the company’s closing share price on Feb. 25 and a 14 percent premium over an earlier offer Read More →
Read More →CKE nears buyout endgame
South Coast, meet buyout specialist Leon Black. He does not mess around. Black is believed to be the man behind an April 19 bid of $12.55 per share for Carpinteria-based CKE Restaurants, the parent of Carl’s Jr. and Hardees. That’s a whopping 13.5 percent higher than the $11.05 on the table from Boston-based private equity Read More →
Read More →Carpinteria chamber backs drilling proposal
The Carpinteria Valley Chamber of Commerce has gone from neutral to supportive of Measure J, which would allow Venoco to drill offshore for oil and gas from an onshore rig in the city. The Carpinteria City Council opposes Measure J, which will be on the June 8 ballot. The business community is divided. When the Read More →
Read More →Updated story: In Santa Barbara County, slow growth softens recession
Santa Barbara County will experience a shorter and shallower recession than the rest of the region, the UC Santa Barbara Economic Forecast Project said. Speaking to 600 business and community leaders April 22, Chris Thornberg and Brad Kemp of Beacon Economics said Santa Barbara County went into recession later than Ventura and San Luis Obispo Read More →
Read More →Amgen first-quarter earnings up 14 percent to $1.2B
Thousand Oaks-based biotech giant earned $1.2 billion in the first quarter of the year – an increase of 14 percent over earnings of $1 billion in the first quarter a year ago. It saw revenues from several of its key moneymaker drugs increase, and said it remains optimistic about a new drug in the pipeline. Read More →
Read More →"Superior proposal" made for CKE
[Editor’s note: This story was updated at 2:25 p.m. on April 20, to reflect the correction at the bottom of the article.] A $75 million price hike has restarted the bidding war for CKE Restaurants, the Carpinteria-based parent of Carl’s Jr. and Hardees. CKE said April 18 that it has received a buyout offer worth Read More →
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