Orange County Business Journal

OC BUSINESS JOURNAL DAILY NEWS

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Avanir Selling $200 Million in Stock

Aliso Viejo-based Avanir Pharmaceuticals Inc. is offering $200 million of its shares to the general public.

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Aliso Video Game Maker Raises $1M

MEK Entertainment Inc., an independent video game maker in Aliso Viejo established by a former Blizzard Entertainment Inc. programmer, has secured $1 million in a seed round.

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Freedom to Shutter LA Register

Santa Ana-based Freedom Communication Inc. will stop publication of the Los Angeles Register, according to a memo from Chief Executive Aaron Kushner and co-owner Eric Spitz to employees last night.

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Midday Stock Roundup

The S&P 500 dipped 0.1% to 1,991.66 in midday trading.

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Ackman Threatens Suit on Allergan Buy

Activist investor Bill Ackman has threatened to sue Allergan Inc. if the Irvine-based drug maker goes ahead with an acquisition of Salix Pharmaceuticals Ltd. in a deal that doesn’t require a vote of Allergan shareholders.

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WSJ: Allergan in Advanced Talks for Potential Salix Deal

Irvine-based Allergan Inc. is in advanced talks to buy Salix Pharmaceuticals Ltd. after turning down a buyout offer from Actavis PLC, according to a report today in the Wall Street Journal.

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Midday Stock Roundup

Major stock indices were down in midday trading today.

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TTM Buys Rival

Costa Mesa-based printed circuit board maker TTM Technologies Inc. today announced it will acquire Viasystems Group Inc. in a $927 million deal.

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China-Based Athletic Brand Picks Irvine for U.S. Headquarters

361 Degrees International Ltd., which bills itself as second-largest athletic brand in China, has chosen Irvine for its North American headquarters.

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China-Based Athletic Brand Picks Irvine for U.S. Headquarters

361 Degrees International Ltd., which bills itself as second-largest athletic brand in China, has chosen Irvine for its North American headquarters.

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Midday Stock Roundup

The S&P 500 fell 0.1% to 2,010.03 in midday trading.

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Register Expected to Close on HQ Sale, Make Severance Payments

A sale of the Santa Ana headquarters of the Orange County Register to developer Mike Harrah is expected to close within a few days, according to sources.

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Unemployment Rate, Jobs Fall

Orange County’s unemployment rate dipped to 5.4% in August despite a decrease of 1,900 jobs over the month.

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Group Pays Off $3.86M Worth of Corinthian Students’ Debt

An offshoot group of the Occupy Wall Street movement paid off $3.86 million in loans owed by 2,761 students of a Corinthian Colleges Inc. school, according to reports.

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Entertainment Parks Operator Sells 15 Locations

Newport Beach-based leisure park owner and operator Palace Entertainment Inc. has sold 15 of its entertainment center locations to Apex Parks Group in Aliso Viejo.

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Montage Names Managing Director

Irvine-based Montage Hotels & Resorts named Rick Riess managing director of its coastal Orange County flagship resort Montage Laguna Beach.

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Autobytel Increases Share Buyback Plan

Autobytel Inc.’s board of directors has approved an additional $1 million common stock repurchase program, increasing the total planned amount to $3 million.

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Irvine Appliance Maker Names New Ad Agency

BSH Home Appliances Corp. selected ELA Advertising as its strategic, creative agency-of-record for its Thermador brand cookware.

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Midday Stock Roundup

The S&P 500 rose 0.4% to 2,009.61 in midday trading.

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Casanova Pendrill Loses Miller Lite

Costa Mesa-based Casanova Pendrill lost the Latino-American portion of the Miller Lite advertising business.

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Midday Stock Roundup

The major indices were each down slightly in midday trading awaiting Federal Reserve action today.

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U.S. Agency Sues Corinthian

The Consumer Financial Protection Bureau today sued Santa Ana-based Corinthian Colleges, Inc. and alleged it engaged in “illegal predatory lending.”

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Mission Hospital to Open Neuroscience Institute

Mission Hospital said that it is opening a new $185 million Neuroscience and Spine Institute tomorrow on its main Mission Viejo campus.

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Midday Stock Roundup

The S&P 500 rose 0.82% to 2,000.37 in midday trading.

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Johnny Rockets Launches Smaller Sites

Aliso Viejo-based Johnny Rockets Inc. said it would develop several types of smaller restaurants and work with an outside company to develop some of them, according to reports.