Compiled by Mike Mason
Newport Beach-based Acquicor Technology Inc. saw its shares rise after an initial public offering that raised $150 million. The company’s shares were priced at $6 in the offering. The first trade was at $6.80. Three former Apple Computer Inc. executives,cofounder Steve Wozniak, former chief executive Gilbert Amelio and Ellen Hancock, Apple’s technology chief under Amelio,founded Acquicor last year. Acquicor is a “blank check company,” or one that was created for the sole purpose of finding another company to acquire. Acquicor is looking to buy a technology company Shares of Newport Beach-based homebuilder William Lyon Homes skyrocketed after the company’s chairman and chief executive, William Lyon, launched a second bid to buy the part of the company he doesn’t own. Lyon offered $93 a share for the roughly 25% of the company’s shares he doesn’t control. That’s 23% higher than William Lyon Homes’ closing price a day earlier. Lyon failed in a bid to buy all of the company’s shares a year ago.
Newport Beach-based Artemis Inter-national Solutions Corp. agreed to be bought by Oakland-based Trilogy Inc. for about $27 million. Artemis will become part of Trilogy’s Versata unit once the deal is approved by shareholders, with a vote expected in May. Artemis makes software used by manufacturing companies for planning Anaheim-based Multi-Fineline Electronix Inc. said it plans to pay $4.8 million to buy the 47,000-square-foot plant it leases in Tucson, Ariz.
Irvine-based Allergan Inc. rival Arizona’s Medicis Pharmaceutical Corp. said it signed a contract with France’s Ipsen Ltd. to acquire the U.S. rights to Reloxin, a rival to Allergan’s Botox wrinkle remover. Reloxin isn’t yet approved in the U.S. Santa Barbara-based Inamed is giving up the rights to Reloxin as part of its acquisition by Allergan. The move was seen as essential to getting regulatory approval for the deal, which was set to close as early as late last week … Irvine-based medical device maker Endologix Inc. said that its accountant expressed “substantial doubt” about its ability to continue operating. PricewaterhouseCoopers LLP cited Endo-logix’s history of losses for its concern Costa Mesa-based Valeant Pharmaceuticals International said second-phase data for an oral anti-viral compound showed positive results in treating hepatitis B. Valeant is looking at the compound, pradefovir, for its safety and ability in treating a chronic form of the liver disease. Third-phase trials for pradefovir are expected to start midyear.
An affiliate of Newport Beach-based KBS Realty Advisors LLC said it plans to start up a real estate investment trust that could raise $2.5 billion to buy office, industrial and retail buildings. KBS Real Estate Investment Trust Inc. said it hopes to sell as many as 280 million shares of common stock at $10 a share. Rather than raising cash through a typical initial public stock offering, KBS REIT’s securities will be sold by broker-dealers and won’t trade publicly Irvine-based mortgage lender New Century Financial Corp. said it plans to expand its board to make room for a dissident shareholder who threatened to run his own slate of candidates because he’s upset with the company’s strategy. David Einhorn, president of New York-based hedge fund operator Greenlight Capital Inc., is set to become a director at month’s end, bringing the board to 11 members. New Century also is allowing Greenlight the right to boost its ownership in the subprime lender. In exchange, Einhorn has agreed to drop a proxy battle against New Century.
The National Institutes of Health is giving $24.3 million to researchers at University of California, Irvine, to study how mental illnesses affect the brain John Wayne Airport officials said 688,848 passengers used the airport in February, up 0.1% from a year earlier. Total takeoffs and landings were up 1.6% to 25,879 in the period.
Foothill Ranch-based Oakley Inc. said it plans to buy Aliso Viejo-based Optical Shop of Aspen for undisclosed terms. The deal is set to close in the second quarter, according to Oakley, which said it expects Optical Shop of Aspen to add to earnings this year. Optical Shop of Aspen counts estimated yearly sales of about $40 million and has 14 stores Irvine-based Diedrich Coffee Inc. signed a pact with Aliso Viejo-based Marie Callender Pie Shops Inc. to supply coffee to the chain’s company-owned locations. About two-thirds of the 141 Marie Callender locations are owned by the company Huntington Beach-based BJ’s Restaurants Inc. said it opened an eatery in Phoenix at the Desert Ridge Marketplace. It’s the company’s 46th restaurant overall, and the second the pizza chain has opened this year. BJ’s plans to open up to 11 in 2006 San Clemente-based Sunstone Hotel Investors Inc. closed the $25.9 million sale of the 160-room Holiday Inn in Hollywood A judge approved Irvine-based Gardenburger Inc.’s bankruptcy reorganization plan. The company is set to become private under the plan. Gardenburger posted a loss of $9.5 million on sales of $46 million last year.
ECONOMIC INDICATORS
Mixed: Orange County’s housing picture in February, with the median price up 11.2% to $617,000, versus a year earlier, but the number of homes sold falling 8% to 2,672, the lowest amount in February since 1997, according to La Jolla-based DataQuick Information Systems, a unit of Canada’s MacDonald Dettwiler and Associates.
