Orange County Business Journal

FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
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Microsemi in $389M Deal

Microsemi Corp. has agreed to acquire Camarillo-based networking chip maker Vitesse Semiconductor Corp. for $389 million.

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Times Gets $4.2M Lien on Register

The Los Angeles Times has been granted a $4.2 million “writ of attachment” against the Orange County Register in Superior Court, according to a news report.

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Self-Storage REITS in $145M Deal

Two real estate investment trusts affiliated with Ladera Ranch-based SmartStop Self Storage have bought 27 self-storage facilities and agreed to acquire five others for a total of $145 million from Long Beach-based DSI Properties Inc.

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El Pollo Loco to Enter Dallas

Costa Mesa-based El Pollo Loco Holdings Inc. plans to enter the Dallas market in 2016, part of an expansion plan that calls for growth to a mix of about 40 franchised and company-owned restaurants in Texas over the next several years.

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Edwards Up on Heart Valve Studies

Irvine-based Edwards Lifesciences Corp.’s shares rose today on positive results from several studies of less-invasive heart valves.

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First American Buys NY Title Co.

Santa Ana-based First American Financial Corp. said that its title subsidiary bought TitleVest Holdings Group LLC in New York City on undisclosed terms.

Price of Chinese Developer’s Platinum Plan: $450M

1.7 Million SF Near Angel Stadium Would Include Luxe Hotel, Condo Tower, Surf Park

A Chinese developer has proposed a mixed-use project next to Angel Stadium that could rival L.A. Live in downtown Los Angeles in terms of scope and variety of uses.

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Wet Seal Sold

Versa Capital Management LLC in Philadelphia has acquired the remnants of Foothill Ranch-based retail chain Wet Seal Inc., according to a report in the Wall Street Journal.

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El Pollo Loco Up on Q4 Results

Shares in Costa Mesa-based El Pollo Loco Holdings Inc. are up about 14% in midday trading to a market cap of $1 billion on positive quarterly and annual numbers delivered after markets closed yesterday.

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New CEO to Octane

Finance and sales veteran Bill Carpou has been named chief executive of Irvine-based nonprofit Octane, which links startups and emerging companies with resources and investors.

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Chicago Buyer for Del Taco

Chicago-based blank check company Levy Acquisition Corp. plans to buy Lake Forest-based Del Taco Holdings Inc. in a deal that values Del Taco at about $500 million, according to Levy.

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Kareo Buys San Francisco Company

Irvine-based Kareo Inc. said today that it bought San Francisco-based DoctorBase Inc. for an undisclosed amount.

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Manhattan’s MetLife Building in Irvine Company Portfolio

Donald Bren’s Irvine Company owns 97% of the 58-story MetLife building in Manhattan, one of New York City’s best-known skyscrapers, accord to a Bloomberg report.

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Habit Shares Down After Q4 Report

Shares in Irvine-based Habit Restaurants Inc. declined in midday trading Wednesday after its most recent quarterly reported showed earnings had declined compared to the same period last year.

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Allergan Shareholders Vote for Actavis Deal

A majority of Irvine-based Allergan Inc.’s shareholders voted this morning to accept a takeover bid currently valued at $70.7 billion from Actavis PLC.

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SJC Startup in $1M Seed Round

San Juan Capistrano startup GlobeChat has raised nearly $1 million in a seed round as it gets closer to bringing its video and text messaging service to the market.

Country Club Teed Up for Sale?

127 Acres Along 55 Freeway Could Fetch Up to $250M

A handful of real estate developers have teed up big-dollar bids to gauge members’ interest in selling the Santa Ana Country Club.

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Corinthian Unit Might Have Buyer

Santa Ana-based Corinthian Colleges Inc. has a buyer interested in its Canadian schools, according to a newspaper in Ontario, Can.

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Biolase Report Could Presage Growth

Irvine-based Biolase Inc.'s reported fourth-quarter and 2014 financial results this week that closed out a year of management shake-ups and difficulties that its chief executive said are behind the company.

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Advantage Sales Buys Canada Firm

Advantage Sales and Marketing LLC in Irvine said it acquired The Linkage Group Inc.

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Juice Retailer Plans to Merge

Irvine-based Ritual Wellness Inc. said it would merge with San Francisco-based Project Juice under the latter’s name.

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Socks Company Raises $50M

Stance Inc. in San Clemente raised $50 million from private investors to expand into underwear and open brand stores, according to The Wall Street Journal.

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SJC Company Buys Tradeshows, Magazines

Emerald Expositions LLC in San Juan Capistrano acquired several tradeshows from New York-based Vendome Group LLC and Macfadden Communications Group LLC.

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Alliant Acquires Again in Spokane

Newport Beach-based Alliant Insurance Services Inc. has acquired Kassa Insurance Services Inc. in Spokane, Wash. on undisclosed terms.

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CSUF Gets $1.5M for Business Center

California State University-Fullerton said it received $1.5 million from Jeffrey Van Harte to start an investment management center and expand a student-managed investment fund.