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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Del Taco Parent Considers $500 Million Sale

Lake Forest-based Del Taco LLC is seeking a buyer and could sell for $500 million or more, according to reports.

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Reports: Paulson & Co. Buys Allergan Shares, Backs Valeant Offer

Hedge fund Paulson & Co. has acquired more than 6 million shares of Irvine-based drug maker Allergan Inc.’s common stock and expressed support for Valeant Pharmaceuticals International Inc.’s hostile bid for the company, according to recent reports.

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SJC Tech Incubator Partners with GE to Grow Startups

Frost Data Capital, a San Juan Capistrano-based venture capital firm and incubator that focuses on “big data,” has partnered with GE to launch an incubator to foster technology startups.

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El Pollo Loco Files Plans for $100M IPO

Costa Mesa-based restaurant chain El Pollo Loco Holdings Inc. has filed plans for a $100 million initial public offering.

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Opus Launches Small-Business Division

Irvine-based Opus Bank has launched a small-business banking division.

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Irvine Digital Publisher Raises $4M

Online sports and lifestyle content publisher Rant Media Network Inc. has raised $4 million in a private offering of its common stock.

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William Lyon Homes Expanding with $520M Buy

Newport Beach-based William Lyon Homes said Monday it would purchase the homebuilding operations of Bellevue, Wash.-based Polygon Northwest Co. LLC for $520 million.

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Government Reprieve for Corinthian

The U.S. Department of Education will release $16 million in student financial aid funds to Santa Ana-based Corinthian Colleges Inc., providing cash flow that will keep the company operating for now.

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Santa Ana Healthcare IT Company Fetches $115M

Capario, a Santa Ana-based healthcare technology services company, has been to sold for $115 million to Emdeon Inc. in Nashville, Tenn.

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Allergan to Shareholders: Reject Valeant’s Latest Bid

Allergan Inc. has urged its shareholders to reject the latest advance from hostile suitor Valeant Pharmaceuticals International Inc.

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Nicholas Gives $9.5 Million to Samueli School

Stacey Nicholas’ Opus Foundation is giving $9.5 million to University of California-Irvine’s Henry Samueli School of Engineering.

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Largest OC Architecture Firm Expands into Texas

Irvine-based design and architecture firm LPA Inc. has inked a deal to absorb OCO Architects in San Antonio, Texas, landing its first office outside of California.

Dream Builders

Golden State Foods Foundation Does It One Bike at a Time

Some children start to take their bicycles for granted as soon as the newness wears off.

Advantage to Pursue Global Plan in Wake of $4.2 Billion Sale

MARKETING: New owners on board; European retail market first target

Advantage Sales & Marketing LLC in Irvine is counting on its new owners to back its strategy for growth, which includes international expansion and diversification of its service.

Look for New Level of Intensity on Allergan

HEALTHCARE: Valeant expected to crank up efforts as clock ticks

Expect Valeant Pharmaceuticals International Inc. to go into overdrive this week as it takes its hostile takeover bid for Allergan Inc. directly to shareholders of the Irvine-based drug maker.

LA Investor Gets Most of Airport-Area Office Campus

REAL ESTATE: Apartments, user sales some possibilities

The bulk of a 24-building low-rise office campus on Von Karman Avenue in Newport Beach has been sold to a Los Angeles-based real estate investor that’s evaluating development prospects at the nearly 20-acre site.

Corinthian Warns of Possible Shutdown

Santa Ana-based Corinthian Colleges Inc. said it could go out of business if it can’t overcome a cash-flow problem stemming from the U.S. Department of Education’s moves to delay the company’s access to financial aid funds.

ClearLight Partners Sells Portfolio Company

Newport Beach-based private equity firm ClearLight Partners LLC sold its stake in TASI Group, a testing, measurement and inspection equipment maker that had been in its portfolio for about seven years.

Dough Maker Gets Money for Expansion

Irvine-based cookie dough maker South Coast Baking Co. got a $10 million credit facility from City National Bank to upgrade its local operations and open a second facility in Springdale, Ark.

OC Companies to Join Russell Indices

A roster of Orange County’s publicly traded companies will be added to the Russell 3000 and Russell Microcap indices, according to a preliminary list published by Russell Investments, which rebalances the indices annually.

Pimco Gets Timing Right in Chicago Tower Sale

Office’s Value Jumps 34% In 2 Years in Hot Market

Add bond giant Pacific Investment Management Co. to the list of Orange County companies making headlines in Chicago’s high-rise office market.

Biggest Here Notch 7% Revenue Gain to $71B

Private Companies Plow Ahead

Orange County’s biggest private companies got bigger in a continued run of revenue and employment gains.

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Nicholas Gives $9.5 Million to Samueli School

Stacey Nicholas’ Opus Foundation is giving $9.5 million to University of California-Irvine’s Henry Samueli School of Engineering.

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OC Jobless Rate Below 5%

Orange County employers added 3,000 jobs in May, helping drive down the local unemployment rate to 4.9%.

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Largest OC Architecture Firm Expands into Texas

Irvine-based design and architecture firm LPA Inc. has inked a deal to absorb OCO Architects in San Antonio, Texas, landing its first office outside of California.