Business Briefs: Amgen, En Pointe Technologies, Platinum Equity, BentleyForbes

0



& #8226; Amgen Inc.

and Fremont-based Abgenix Inc. have been hit by a shareholder class-action lawsuit that claims Amgen’s $2.2 billion buyout offer for its rival is “inadequate.” The complaint, filed in the Superior Court of the State of California in Alameda County, accuses Abgenix’s directors of violating their fiduciary obligations to shareholders in negotiating and approving the merger agreement. The suit seeks an injunction against the proposed merger. Abgenix said it believes the lawsuit “is without merit and intends to vigorously defend the action.”


Last week, Abgenix agreed to be acquired by Thousand Oaks-based Amgen for $22.50 per share in cash. The deal is expected to close by the end of March.



& #8226; En Pointe Technologies Inc.

reported a fourth-quarter net loss of $349,000 (5 cents per share) for the three months ended Sept. 30, compared with income of $478,000 (7 cents) for the like period a year earlier. Revenue for the El Segundo-based information technology products provider rose 22 percent to $87.4 million.



& #8226; Platinum Equity

completed the acquisition of Columbia, Md.-based PEAK Technologies from R.R. Donnelley & Sons Co. The Beverly Hills-based private equity firm founded by billionaire Tom Gores announced the transaction on Oct. 21. Financial details of the deal were not disclosed. PEAK manufactures automated identification and data-collection systems.



& #8226; BentleyForbes

completed the $50 million acquisition of Park Center, a 236,000-square-foot office building situated on an eight-acre site in Plano, Texas. The L.A.-based commercial real estate investment company acquired the building from North American Properties. The acquisition marks the seventh property added to BentleyForbes’ Dallas-area portfolio. The company owns office buildings, shopping centers, light manufacturing facilities and warehouses encompassing 7.5 million square feet in 14 states.

No posts to display