Danvers Bancorp, Inc. Announces Merger of Beverly National Bank into Danversbank
Danvers Bancorp, Inc. (NASDAQ: DNBK – News), parent of Danversbank and Beverly National Bank, announced today that effective as of 11:59 P.M. on Friday, February 12, 2010, all Beverly National Bank branches will merge into Danversbank and, on Tuesday, February 16, 2010, the eight former Beverly National Bank branches will reopen as Danversbank branches.
“We are very pleased to welcome Beverly National Bank customers to the Danversbank family,” said Kevin T. Bottomley, Danvers Bancorp, Inc. President and Chief Executive Officer. [Read the full article]
Investors responded positively Friday to JDS Uniphase Corp.’s decision to buy the network testing equipment business of Agilent Technologies Inc.
JDS Uniphase shares rose 47 cents, or 5.4 percent, to $9.15 in afternoon trading, a day after it agreed to pay $165 million in cash for the unit.
The company, which provides equipment for communications companies, said the acquisition will put it in place to benefit from the next round of network upgrades at wireless providers. The Agilent unit provides equipment to help monitor and troubleshoot networking gear. It took in revenue of $162 million in its most recent fiscal year.
Morgan Keegan analyst Paul Bonenfant, writing in a note to clients Friday, said the move fills a strategic gap in JDS Uniphase’s portfolio. He upgraded the company’s stock to “Outperform” from “Market Perform.”
Citi Investment Research analyst Kevin Dennean also liked the deal. [Read the full article]
The Pepsi Bottling Group, Inc. (NYSE: PBG – News) today announced that it has completed its acquisition of Ab-Tex Beverage, Ltd. Financial terms of the transaction were not disclosed.
Headquartered in Abilene, TX, Ab-Tex bottles, packages and distributes several leading beverage brands, including Pepsi-Cola, Dr Pepper, Mountain Dew, 7UP, and Sunkist. The company operates in 125 counties across central Texas.
This is the third domestic bottler acquisition that PBG has completed in the past 12 months.
The Pepsi Bottling Group, Inc. is the world largest manufacturer, seller and distributor of Pepsi-Cola beverages with annual sales of over $13 billion. With approximately 65,000 employees worldwide, PBG has operations in the U.S., Canada, Mexico, Russia, Spain, Turkey and Greece. For more information, visit the Company website at www.pbg.com. [Read the full article]
Berkshire Hathaway Inc. (“Berkshire”) today announced the closing of the merger of Burlington Northern Santa Fe Corporation (“BNSF”) with and into a subsidiary of Berkshire. Berkshire also announced the final results for the merger consideration elections made by BNSF shareholders.
The exchange agent for the merger, Wells Fargo Shareowner Services, has calculated that of the 264,507,424 shares of BNSF common stock outstanding as of the effective time of the merger (which excludes shares of BNSF common stock owned by Berkshire and its subsidiaries, all of which were canceled without payment at the effective time), cash elections were made with respect to 108,054,170 shares, or 40.85%, and stock elections were made with respect to 114,692,846, or 43.36%. “No election” was made, or deemed to have been made, with respect to the remaining shares. [Read the full article]