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ACQUISITIONS: Big Deals Dominate the Scene in 2013 As San Diego Is Sellers Market
A soaring stock market spurred a spate of San Diego company acquisitions this year, with six exceeding billion-dollar valuations.
Father Joe’s Villages 12th annual Thanksgiving Day 5Krun/walk fundraiser drew more than 8,000 people. Presented by Wells Fargo, the event organizers reported a net of about $300,000 toward the outreach programs Father Joe’s makes to those in need in the San Diego community.
San Diego-based Cubic Corp. said that its defense systems subsidiary received a contract worth more than $70 million from an overseas customer.
Peregrine Realty Partners of Newport Beach has purchased La Terraza Corporate Plaza, an office building in Escondido, for $22.3 million, according to brokerage services company CBRE, which represented the buyer and seller.
An index measuring San Diego’s economy fell 0.4 percent in October, the first time it’s dropped since August of 2012.
Ligand Pharmaceuticals Inc. has grown its revenue and net income guidance, due to better-than-expected sales of its Captisol product.
Development firm The Shamrock Group LLC, based in Solana Beach, has obtained a $40 million construction loan for a new outlet shopping center it is building in San Ysidro.
Welk Resort Group, the San Diego developer and operator of resort properties, said it closed a $158.7 million securitization backed by notes receivable from vacation ownership interests.
San Diego-based cancer drug developer Ignyta Inc. has raised $54 million in two separate stock offerings, exceeding the company’s original target of $35 million.
Volcano Corp. has authorized a $200 million share repurchase program — which is in line with the advice from an activist investor who is reportedly grooming the company as an acquisition target.
The downtown San Diego office tower at 450 B. St., known locally as the Bank of America Tower, has been sold for $73 million, according to CoStar Group and public data.
San Diego-based Orexigen Therapeutics Inc. is planning a $100 million offering of convertible senior notes, the company announced.
San Diego companies will be well represented at the 25th Annual Piper Jaffray Healthcare Conference set for Dec. 3-4 in New York City.
Market conditions are no longer right for Kratos Defense & Security Solutions Inc. to refinance a $625 million bond, company CEO Eric DeMarco said recently.