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In The Marketplace
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.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.