CENTENNIAL – National CineMedia, a Centennial-based company that sells advertising rights in movie theaters, on Thursday disclosed new details about its planned initial public offering.
The company intends to sell 38 million shares priced between $18 to $20 each, according to a filing with the Securities and Exchange Commission.
The company’s three founders – AMC Entertainment Inc., Cinemark Inc. and Regal Entertainment Group, the movie theater chain owned in part by Denver financier Philip Anschutz – will keep a 59.5 percent stake even after the offering.
NIWOT
Crocs wraps up deal
to buy gear company
Niwot-based Crocs Inc. said Thursday that it has completed the acquisition of Fury Inc., a Canadian maker of hockey and lacrosse gear.
The company will begin manufacturing equipment that features Croslite, Crocs’ proprietary closed-cell material. The company will debut the 2007 product line next week at the ONEGOAL Hockey Show in Toronto, Ontario.
SAN JOSE, Calif.
Brocade weighs views
on buying McData
Brocade Communications Systems Inc., the biggest maker of switches for data-storage networks, said two independent proxy advisory firms recommended its shareholders approve the purchase of rival McData Corp.
Institutional Shareholder Services and Glass, Lewis & Co. are encouraging San Jose, Calif.-based Brocade and Broomfield-based McData shareholders to vote in favor of the all-stock transaction at their respective Jan. 25 meetings.
NEW YORK
AT&T set to rebrand
Cingular Wireless
AT&T Inc.’s planned rebranding of Cingular Wireless cellphone service under the AT&T name will start next week with a multimedia ad campaign announcing what’s expected to be a multimonth transition.
The campaign, which starts two weeks after AT&T gained full ownership of the nation’s largest wireless carrier through the purchase of BellSouth Corp., also will include inserts with monthly bills and promotional materials at Cingular stores.
NEW YORK
Oil slips below $52 to lowest price since ’05
Oil plunged below $52 a barrel Thursday to its lowest price since May 2005, extending a sharp decline that has been led by dampened heating oil demand, but which could save consumers money on a more widely used fuel: gasoline.
Crude oil has tumbled by 15 percent this year in a huge selloff that was kicked off by investment funds last year, and then stoked by a historically warm U.S. winter that has left supplies of heating fuel barely touched.
INDIANAPOLIS
Eli Lilly stops work
on new insulin plant
Eli Lilly & Co. said Thursday it will halt construction of a Virginia insulin plant as part of a shift in the drugmaker’s focus toward biotech products.
The Indianapolis company said it will stop building the Prince William County, Va., center because production can be handled by existing plants and a center being built in Italy. All 120 employees in Prince William will be given a chance to transfer or will receive severance packages.
CHICAGO
Sale of office landlord
may spur bidding war
Shares in Equity Office Properties Trust rose modestly Thursday amid indications of a possible bidding war for the office real estate investment trust, which already has agreed to a $19 billion buyout.
The Wall Street Journal and Financial Times reported late Wednesday that an investment group led by hedge fund Cerberus Capital Management was preparing to top Blackstone Group’s offer for the Chicago- based office landlord.
NEW YORK
GM may add $1 billion
to capital spending
General Motors Corp., facing stiff competition from Toyota and other rivals, said Thursday it plans to boost capital spending by as much as $1 billion a year as it attempts to revitalize its product line.
KANSAS CITY, Mo.
iPhone users to spend
more, Cingular says
Cingular Wireless LLC, the largest U.S. cellular-phone service, predicts that users of Apple Inc.’s new iPhone will spend at least $20 a month more than typical customers on Web surfing and text messaging.
