The Macerich Co.
, a Santa Monica-based real estate investment trust, announced on Monday it has completed its purchase of Wilmorite Properties Inc. for $2.33 billion. The sum includes about $879 million in existing debt. Wilmorite’s portfolio includes interests in 11 regional malls and two open-air community centers in Connecticut, New York, New Jersey, Virginia and Kentucky.
Northrop Grumman Corp.
, the L.A.-based defense contractor, on Monday said it plans to bid on the contract to manage Los Alamos National Laboratory in New Mexico in a seven-year agreement worth about $2.2 billion per year. Extensions of up to 13 years could increase the total value of the contract to $44 billion over 20 years.
Pacific Energy Partners
, a Long Beach-based energy transportation company, increased its cash distribution to $0.5125 per unit for the quarter ended March 31. The distribution is payable May 13 to unit holders of record as of May 2. It represents a 2.5 percent increase over the distribution for the quarter ended Dec. 31 of $0.50 per unit; and a 5. 1 percent increase over the year-ago quarter of $0.4875 per unit.
Two executives of
Vans Inc.
, a Santa Fe Springs clothing and shoe manufacturer, were sentenced Monday to 71 months in federal prison after admitting earlier this month to taking kickbacks from Chinese manufacturers in exchange for continuing to place product orders. Scott Andrew Brabson, 50, of Goleta, and Jay William Rosendahl, 48, of Lake Oswego, Oregon, also were ordered to pay $4.7 million in restitution to the company. Brabson was vice president of sourcing for Vans from November 1997 to December 2000, while Rosendhal was hired as a product development consultant in February 1999. The kickbacks were wired to a Hong Kong account.
Canon Communications LLC
, a Los Angeles publisher of trade magazines and producer of trade shows, announced Monday that it has been acquired by Apprise Media LLC, with an investment from Spectrum Equity Investors, both of New York. Canon is a unit of VS & A; Communications Partners II, a private equity affiliate of Veronis Suhler Stevenson, of New York. The deal was for an undisclosed sum.
