Shares of Maguire Properties Inc. lost more than 60 cents on Tuesday after hitting a 52-week high on Monday amid speculation that the Los Angeles-based real estate investment trust might be taken private. On Monday the company's shares rose by 7 percent to $40.36 after a real-estate investment trust newsletter reported that the company will be shopped by two investment banks after the Labor Day weekend. It has been reported that a partial buyout by existing management could be part of the company's plans to go private. Shares closed at $39.73 on Tuesday
HemaCare Completes Acquisition
Los Angeles-based blood products and service provider HemaCare Corp. said Tuesday that it has completed purchase of privately owned Teragenix Corp. in a deal valued at $4.8 million. Fort Lauderdale, Fla.-based Teragenix, which had 2005 sales of $5 million and pre-tax profit of about $600,000, is a provider of human biological samples, quality control products and clinical trial management services. HemaCare said the acquisition is expected to be immediately accretive to earnings.
Enova Now Listed on AMEX
The American Stock Exchange said it listed the common stock of Enova Systems Inc. under the ticker symbol ENA starting Tuesday. Enova Systems develops commercial-grade power conversion management systems as well as hybrid-drive systems for vehicles such as busses and trucks. The Torrance-based company had been listed on the Over the Counter Bulletin Board. Shares closed up 2 cents to $4.72 on its first day of AMEX trading.
DaVita Amends Agreement with Gambro
El Segundo-based kidney dialysis clinic owner DaVita Inc. said late Monday that it had signed an amended supply agreement with Gambro AB that revoked an earlier termination notice to the Swedish company. DaVita, which earlier acquired Gambro's U.S. dialysis clinics, terminated the original supply agreement for dialysis monitors, filters, bloodlines and fluids in May due to Gambro's inability to supply certain products because of an U.S. Food and Drug Administration import ban. The amended deal permits DaVita to obtain alternate supplies of the affected products during the ban, and reduces its purchase obligations under the supply agreement.
MTV Buys Remaining Shares of MTV Japan
MTV Networks said it is buying the remaining shares of MTV Japan from private equity firm H & Q; Asia Pacific. The remaining stock accounts for about 68 percent of the company. The move will give MTV, a Los Angeles-based division of Viacom Inc., 100 percent of MTV Japan after the deal. After the deal is complete, MTV Networks will add Nickelodeon programming and digital media brand Flux to its MTV Japan line-up. MTV Japan was formed five years ago by H & Q; Asia Pacific through a joint venture partnership with MTV Networks.
Paula Financial Receives Delisting Notice
Paula Financial Cos. said it has received notice that it is at risk of being de-listed from the Nasdaq Capital Market because of failure to file its quarterly results for the quarter ending June 30. The Pasadena-based insurance company said its accountants are working to comply and said it has requested a hearing before a Nasdaq Listing Qualifications Panel to review the situation. Shares in the company closed up 2 cents to $2.54 in Tuesday trading.
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