– Computer Sciences Corp.
in El Segundo has been awarded a $58-million contract to provide certification, accreditation and information security services to the Federal Bureau of Investigation’s Information Security Division. Computer Sciences Corp., an information technology services company employing 79,000 worldwide, will work with seven companies in other states on the assignment. The order is initially for services for one year and four one-year options, totaling $58 million if all four years are taken.
–
The proposed $2.6 billion acquisition of Santa Barbara-based
Inamed Corp.
by Medicis Pharmaceutical Corp. in Arizona was postponed by a U.S. Federal Trade Commission request for additional information to comply with antitrust regulations.
Medicis agreed to purchase Inamed for its cosmetic surgery devices in March, and the request for more information, the FTC’s second, will delay the closing of the acquisition until 30 days after the companies provide information showing the merger will not stifle competition. Medicis’ product Restylane competes with Inamed’s wrinkle treatment Hylaform.
– California United Bank
has completed its initial public offering of common stock as of April 27 and plans to open for business later this month. The Encino-based bank raised $62 million for more than 3.5 million shares, well exceeding the 2.2 million to 2.5 million at $10 per share the originally authorized for sale Nov. 8. California United obtained permission from regulators to sell an additional 1 million shares. California United can start its banking business and start insuring accounts under Federal Deposit Insurance Corp. pending its certification from the California Commissioner of Financial Institutions.
– Magnetek Inc.
will restate its financial results for the third quarter ended April 3 to include a $22 million charge, revising its third-quarter loss to 86 cents per share, compared with the 9-cents-per-share loss it had reported earlier. Magnetek lost a patent dispute and was ordered May 4 by an arbitrator to pay $23.4 million to Ole K. Nilssen. Nilssen had sued Magnetek in 1998 over a patent for electronic ballasts made by a unit that Magnetek has since divested, and the parties began binding arbitration last year. Magnetek’s bank has not indicated it would discontinue its line of credit or accelerate the loans, but reserves the right to do so, the Los Angeles-based manufacturer of power control technology said in a filing with the Securities and Exchange Commission.
