Flyi Says It Has Suitors
The parent of Dulles-based low-cost airline Independence Air, which filed for bankruptcy protection Nov. 7, said an undisclosed number of parties have expressed interest in either acquiring the company outright, investing in the carrier or acquiring some of its assets. Flyi spokesman Rick DeLisi declined to name the parties.
Last month, Flyi set a Dec. 16 deadline for investors to submit formal bids in an auction for all or part of the airline's assets. Asked if the deadline was still in effect, DeLisi said, "We are not commenting on any deadline now."
MERGERS & ACQUISITIONS
Columbia Bancorp Holders Approve Buyout
Shareholders of Columbia Bancorp agreed to an estimated $295 million buyout by financial holding company Fulton Financial. The Columbia-based parent of Columbia Bank has about $1.3 billion in assets. Columbia Bank will be Fulton's 15th banking affiliate and will continue to operate as under its name.
Carlyle, Partner Buy Swedish Telecom Firm
Carlyle Group and Providence Equity Partners bought Swedish telecommunications company Com Hem for a reported $1.2 billion. District-based Carlyle and Providence, based in Rhode Island, bought the Stockholm-based provider of cable TV, broadband Internet and phone service from the Swedish investment firm EQT, which bought Com Hem in 2002.
Williams Falls Below Nasdaq Mark
Williams Industries received a notice from Nasdaq that for the past 30 consecutive trading days its common stock has not maintained the minimum value for continued inclusion on the Nasdaq National Market. The Manassas steel fabrication and construction company has until Feb. 28 to regain compliance. To do so the company's common stock in the public float must have a value of $5 million or greater for a minimum of 10 consecutive trading days.
Danaher Names Kraft's Hefner to Board
Danaher, a District-based maker of tools and components, said it named Linda P. Hefner a director, increasing the board to 10 members. Hefner has been executive vice president for global strategy and business development for Kraft Foods since May 2004.
Jos. A. Bank Clothiers, a Hampstead, Md., men's clothing retailer, said its third-quarter profit rose to $4.7 million (32 cents a share) from $3.2 million (22 cents) in the comparable period last year, boosted by strong same-store sales. Sales grew 28 percent, to $105.6 million. Catalogue and Internet sales rose 23 percent.
Compiled from staff and news service reports.