AT&T Inc. is putting pressure on its smaller rivals, Sprint Corp. and Dish Network Corp., to become bigger through mergers and acquisitions of other properties/companies with its latest plan to buy Leap Wireless International Inc. in a $1.2-billion bid.
Sprint will be receiving a $5-billion cash infusion from SoftBank Corp., which acquired a controlling stake in the company on July 10, in a bid to expand Sprint’s network.
Wireless industry analyst Chetan Sharma said Chicago-based U.S. Cellular, whose majority of stocks is owned by Telephone & Data Systems Inc. and is serving around 5 million customers, is also on the lookout for more deals.
U.S. Renal Care, Inc. of Texas is set to purchase Ambulatory Services of America, Inc. of Brentwood based on an ongoing negotiation that is set to reach its conclusion at the end of the summer. As of this time, the terms of the companies’ deal are not yet specifically provided.
ASA manages renal dialysis and radiation oncology sites. It has 79 dialysis centers through one of its business units, the Long Beach, California-based Innovative Dialysis Systems, and runs 17 radiation oncology centers that USRC plans to put on the market.
USRC, on the other hand, provides outpatient care for patients with chronic kidney failure.
Tax and business consulting firm UHY Advisors recently conducted a survey in which it was discovered that a significant number of businesses owners in Texas believe that 2013 will be a good year regarding job opportunities and investments, with more of them saying that an economic downturn is not anticipated for this year.
In the Texas Business Outlook Survey conducted February 21-25 and for which results were released in March, 14 percent of business managers expected a steady acceleration of the economy, with 40 percent saying economic expansion is possible, and 45 percent saying that the business climate will probably be the same as last year’s, but definitely isn’t headed downhill.
UHY Advisors’ chief operating officer Ron Martin said this sentiment proves Texas businessmen are showing continuous optimism in the economy, but are still cautious and are guarded against “challenges and surprises that are beyond their control.”
Fort Worth-based American Airlines (AMR) filed a bankruptcy reorganization plan on Monday, April 15.
If the plan for the company’s reorganization is approved by the court, AMR will be afforded 60 days to make a presentation before the creditors, after which a hearing, the outcome of which will be decided on by the same creditors, will determine the mode of reorganization.
Part of the reorganization plan is AMR’s decision to merge with publicly-traded U.S. Airways. Part of the merger filing, of which the Securities and Exchange Commission was given a notification, asked U.S. Airways shareholders to approve of the merger.
A union in 2012 would have earned the companies $24.85 billion in revenues and $1.87 billion in losses, including $2.2 billion in reorganization costs.
AMR CEO Tom Horton will become chairman of the new company and will be succeeded by U.S. Airways chief executive Doug Parker if the merger is approved.
Verizon Wireless has bought 25 acres of land from Carrolton-based developer Centurion American Development Group in preparation to expand its office complex at the northeast corner of Texas 114 and Dove Road in the 900-acre Solana business park.
Centurion owner Mehrdad Moayedi acquired more than 285 acres of undeveloped land from the Maguire Partners-Solana Land limited partnership in August 2012. Moayedi, managing partner of Maguire Partners-Solana Land, sold 8.2 acres east of the Baylor Medical Center to Irving-based hotel developer Trophy Lodging.
Development plans are in store for 169 acres of Moayedi’s Solana lands at the northeast corner of Davis and Solana boulevards, which include 85 acres for a commercial enterprise called Westlake Vallecito and 84 acres for residential use.
On his recent visit to the Bay Area, Governor Rick Perry worked on coaxing businesses to set up shop in Texas, indirectly saying enterprises and companies should invest in his state rather than in California.
Perry brandished his state’s array of perks for the business sector, such as the absence of state income tax, more affordable labor, and more convenient business regulations.
This was met by cynicism by California Governor Jerry Brown, saying weather conditions in Texas are not favorable compared with the climate conditions in California.
Perry’s words seem to have been making their mark, though. Bay Area firms such as Facebook and eBay are establishing campuses in Texas.