Compiled by Mike Mason
Minnesota-based United Health Group completed its $9.2 billion buy of Cypress-based Pacifi-Care Health Systems Inc. The deal, the largest yet for Orange County, wrapped up earlier than expected Irvine-based Allergan Inc. agreed to buy Santa Barbara-based breast implant maker Inamed Corp. for about $3.2 billion. Allergan’s bid trumped one from suitor Medicis Pharmaceutical Corp. Costa Mesa-based Anna’s Linens Inc. withdrew its planned $69 million initial public offering. The seller of discount linens has 200 stores Aliso Viejo-based online retailer Buy.com Inc. withdrew its initial public offering. The move followed a handful of delays for the offering, originally slated for mid-December. After cutting the price of the offering, Buy.com hoped to raise about $33 million by selling about 4.2 million shares.
Shares of Anaheim-based Multi-Fineline Electronix Inc. surged after the flexible circuit board maker said it expects net income of $15 million and $17.5 million for the quarter ended Dec. 31, up from the $11 million to $12.4 million forecast in November. The company cited strong sales of circuit boards for wireless phones for the higher forecast Tustin-based Cherokee International Corp. boosted its sales forecast for the fourth quarter George Klaus, chairman and chief executive of Irvine-based Epicor Software Corp., resigned from the board of Costa Mesa-based FileNet Corp. With the resignation, FileNet’s audit committee is out of compliance with Nasdaq’s requirement for independent directors. The company hired a search firm to fill Klaus’ seat.
Santa Ana-based Advanced Medical Optics Inc. is set to receive $214 million in damages after a judge upheld a patent ruling against rival Alcon Inc. of Fort Worth, Texas. Alcon said it planned to appeal.
Irvine-based California Coastal Comm-unities Inc. sold a 103-acre parcel of land on the Bolsa Chica wetlands to the state Wildlife Conservation Board for $65 million. The sale was the last hurdle the homebuilder faced before beginning development of a 349-home project on the upper part of the mesa Irvine-based New Century Financial Corp., a mortgage lender to borrowers with imperfect credit, is paying $10 million plus future payments for Sugar Land, Texas-based Access Lending Corp., a funder of home loans generated by brokers.
The Board of Supervisors approved a $4.50 per passenger fee to fund a $512 million redesign of John Wayne Airport. Plans call for adding six gates and 2,500 parking spaces, among other changes. Work is expected to finish in 2011. Meanwhile, John Wayne Airport said passenger traffic in November rose 0.3% to 781,302, versus a year earlier. Total takeoffs and landings rose 4.9% to 27,168 in November Anaheim approved a deal with Anschutz Entertainment Group to bring up to 50 concerts to 7,500-seat Anaheim Arena.
Cypress-based Christie Digital Systems Inc. said movie chain operator Carmike Systems Inc. plans to buy 2,300 digital projectors for more than 300 theaters in the U.S. Newport Beach-based American Vanguard Corp. said it bought the cereal herbicide product line, Difenzoquat, from Germany’s BASF AG Irvine-based Kawasaki Motors Corp. USA said Scott Kiyama will take over as chief executive, replacing Steve Hamada, who is returning to Japan to work for Kawasaki’s parent Costa Mesa-based Ceradyne Inc. said it won a $9.3 million order for its lightweight ceramic body armor from the Marine Corps. … San Clemente-based Sunstone Hotel Investors Inc. sold a 78-room Holiday Inn in Provo, Utah, for $3.7 million Newport Beach-based Ambassadors International Inc. said it plans to buy American West Steamboat Co. from Oregon Rail Holdings LLC. The travel and event management company will pay back $4.3 million in debt and take on $41.5 million in existing loans as part of the deal. It also will pay 250,000 shares, worth about $4 million, if financial targets are met.
ECONOMIC INDICATORS
Mixed: Detached home sale results in November, with the median sales price at $695,000, a 1% dip from October but up 10% from a year earlier, according to the California Association of Realtors. The number of detached home sales fell by 16% in November compared to October and were down 13.5% from a year earlier.
