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Ag Services of America, Inc. of Cedar Falls, IA has announced that Rabobank International, the corporate and investment banking arm of the Netherlands-based Rabobank Group, has entered into a definitive agreement to acquire the company. Under the terms of the agreement, Rabobank would purchase 100% of the common stock of Ag Services in an all-cash transaction, at a price of $8.50 per common share of the company's stock, a premium of approximately 39% over the closing price of $6.12 on Oct. 31, 2003. This price values the total issued shares of Ag Services at approximately $47 million. The acquisition is anticipated to close on or about Dec. 31, 2003, subject to Ag Services shareholder approval and Dutch Central Bank approval. This acquisition is a part of Rabobank's strategy of expanding its retail banking and agricultural lending business to the most promising markets around the world. This purchase follows other recent U.S. acquisitions including VIB Corp of California and Lend Lease Agri-Business of St. Louis, MO. Ag Services provides operating credit to producers and administers financing programs for input retailers and suppliers in agricultural markets throughout the central United States. For the 2003 crop season the company originated approximately $265 million in loans and had 116 employees.
Bank of America Corporation of Charlotte, NC and FleetBoston Financial Corporation of Boston have announced a definitive merger agreement. The merger, to be accomplished through a stock-for-stock transaction, establishes a new Bank of America that will have $68 billion in shareholders' equity. It has been reported that these two companies have generated $10 billion in earnings in the first 9 months of 2003. Charles K. Gifford, currently chairman and chief executive officer of FleetBoston, will be chairman of the board of directors of the merged company from Boston. Kenneth D. Lewis, currently chairman and chief executive officer of Bank of America, will be chief executive officer and will maintain his principal office in the combined company's headquarters in Charlotte.
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.