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June 15, 1995 | From Bloomberg Business News
W.R. Grace & Co. will spin off its health care unit to shareholders rather than sell it or accept merger proposals. The specialty chemical and medical company said it rejected an informal merger bid for its National Medical Care Inc. unit from Vivra Inc., a rival kidney dialysis company, and a $3.5-billion purchase offer from the head of the unit. Grace is transferring $1.4 billion of its $2-billion debt to National Medical Care as part of the transaction. Boca Raton, Fla.
January 21, 2000 | (Edmund Sanders)
EMB Corp., the Costa Mesa-based video-conferencing company, said Thursday it plans to sell its mortgage and real estate units to Irvine-based e-Net Financial Corp. for nearly $14 million in cash and stock. E-Net agreed to pay $4 million in cash and 7.5 million shares, valued about $9.8 million, based on the e-Net's average stock price over the past two months. By selling certain assets--including American Residential Funding Inc., Residential Mortgage Corp.
August 21, 1985 | DANIEL M. WEINTRAUB, Times Staff Writer
The San Diego County Board of Supervisors on Tuesday voted unanimously to urge the county's retirement board to withdraw more than $80 million invested in firms doing business in South Africa. The board approved the proposal without discussion. Supervisor Leon Williams, chairman of the board and its only black member, said he hoped the action would help overturn a system "more oppressive" than the British government's rule over the colonies before the American Revolution.
December 20, 2006 | From the Associated Press
Morgan Stanley Inc., the second-biggest investment house on Wall Street, said Tuesday that it would shed its Discover credit card business. Speculation has swirled for years that Morgan Stanley would split off the No. 4 credit card brand to focus on its prime investment banking, brokerage and trading operations. Shareholders have urged Morgan Stanley to unload Discover because it has steadily been losing ground in a crowded field of larger competitors.
August 16, 1997 | From Bloomberg News
Columbia/HCA Healthcare Corp. has received queries from companies wanting to buy parts of its far-flung network of health-care businesses, Chief Operating Officer Jack Bovender said Friday. Bovender said in an interview that potential buyers, including HealthSouth Corp., have approached the company but that Columbia isn't in talks with any of them. In addition to its 342 hospitals and 570 home-health sites, Columbia runs skilled-nursing, rehabilitation and outpatient-surgery businesses.
May 13, 2007 | Kathy M. Kristof, Times Staff Writer
Adam Sterling wants individual investors to know that they are a powerful force -- and they can use that power to help stop genocide halfway across the world in the Sudanese region of Darfur. If American investors pull their money from companies that fund the Sudanese government, Sterling believes that government will be forced to curtail atrocities by its forces and allied militias in their fight against Darfur rebels.
The parent of Lucky and Alpha Beta supermarkets gave up its costly legal battle to merge the two big chains and agreed Wednesday to sell most of its Alpha Beta stores in Southern California. Under a deal reached with California Atty. Gen. John K. Van de Kamp, American Stores consented to divest 152 of its Alpha Beta stores and nine of its Lucky Stores within five years.
Certified Grocers of California, a Commerce-based cooperative that supplies independent supermarket chains, said Tuesday it has found buyers for 26 of the 32 divested stores purchased from Albertson's following its merger with American Stores Co. The sale of the stores, which are located from San Diego County to Santa Barbara, will give a number of independent operators--all supplied by Certified--a foothold in new markets. It will also give one ethnic supermarket chain, Carson-based K.V.
January 20, 2006 | Rebecca Trounson, Times Staff Writer
University of California regents on Thursday stopped short of a decision to pull UC money immediately out of investments in Sudan but instructed their fund managers to express the university's concern about firms that have "significant business relationships" in the war-torn African nation. The regents promised to revisit the issue in March, when they are expected to hear a detailed plan for divestment by a newly appointed task force that will include regents, faculty members and students.
May 6, 2007 | Charles Piller, Times Staff Writer
Shareholders of Berkshire Hathaway Inc. decisively rejected a proposal Saturday that would have required the company to sell its $3.3-billion stake in PetroChina Co., a subsidiary of a Chinese government firm that is the largest player in Sudan's oil industry. Berkshire Chairman Warren E. Buffett, who owns about one-third of his company's shares, advised against the proposal, which received less than 2% of votes cast here at Berkshire's annual meeting.
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