Martin Marietta acquired Perry Technologies, a developer of undersea work systems, from the Perry Group, a privately held company in Riviera Beach, Fla. Terms were not disclosed.
MNC Financial's directors approved a previously announced deal to sell $180 million of preferred stock to Alfred Lerner, already the firm's largest shareholder. Other directors are still considering whether to join Lerner's investment, which will provide MNC with much-needed cash, the bank said. MNC is the parent of American Security, Maryland National and Equitable banks.
Neil Bush lost his request to have the Office of Thrift Supervision's pending cease and desist order against him thrown out. Administrative law judge Daniel Davidson refused Bush's request, and an enforcement hearing against Bush is scheduled to begin in two weeks.
Electric Boat and Sikorsky Aircraft announced layoffs. Electric Boat said it will lay off 1,000 white-collar workers before Christmas and said it could cut half of its Groton, Conn., work force in the next five years if defense budget cuts continue. Sikorsky Aircraft of Stratford, Conn., said it would lay off 350 white-collar workers tomorrow to make the helicopter manufacturer "more competitive."
Corroon & Black, already planning to merge with fellow insurance broker Willis Faber PLC of Britain in a deal worth more than $750 million, received a $804 million cash offer from Aon Corp., the holding company for the insurance brokerage Rollins Burdick Hunter Group. Corroon & Black said its board would study the bid.
Japan's trade surplus edged up 3.7 percent in August to $3.49 billion from $3.37 billion a year earlier.