Greenwood Village – First Data Corp. shareholders Tuesday overwhelmingly approved a $26 billion acquisition of the payment-processing company by an affiliate of buyout firm Kohlberg Kravis Roberts & Co.
At least 98 percent of shareholders who cast ballots voted in favor of the proposal during a special meeting in New York, the company said. The acquisition is expected to close in the third quarter.
The private-equity firm offered $34 a share, a premium of about 26 percent over First Data’s closing price March 30.
Additional business news briefs:
DENVER
Canada firm to start Weld uranium search
A Canadian company said Tuesday it will begin prospecting for uranium after receiving state approval for a project in Weld County.
Powertech Uranium Corp. said the Colorado Department of Natural Resources approved its plan to drill test holes and wells on the land. The state’s OK excludes any mining activity.
The company, based in Vancouver, British Columbia, has proposed a $20 million uranium mine near the farming and ranching community of Nunn, about 70 miles north of Denver.
MINNEAPOLIS
Court of appeals overturns Qwest fine
The Minnesota Court of Appeals overturned a $25.9 million fine against Qwest Communications on Tuesday, saying the case needs a fresh look in light of the close relationship that existed between a state utilities commissioner and an attorney for Qwest rival AT&T.
Former Public Utilities Commissioner Greg Scott was cleared of criminal wrongdoing last year for issues related to his personal relationship with AT&T attorney Mary Tribby, but the court opinion said his influence over the fine was enough to call it into question.
DENVER
Molson Coors shuts Alberta brewery
Molson Coors Brewing Co., one of the world’s largest brewers, said Tuesday it will close a brewery in Edmonton, Alberta, that has been idle since union members went on strike in May.
The closure will eliminate 136 jobs, and products manufactured at the plant will be shifted to other Canadian breweries during the fourth quarter and early in 2008, the company said.
ANN ARBOR, Mich.
Bundle customers like phone firms, poll says
AT&T Inc. and Verizon Communications Inc. may have an edge in their fight to beat competition from cable providers. They score higher marks for customer loyalty and satisfaction, according to one survey.
More than half of respondents who were interested in a bundle of services that includes Web access and television would prefer to use their phone company, according to a report released Tuesday by the Claes Fornell International Group, a consulting firm based in Ann Arbor, Mich.
CHICAGO
New United VP to focus on employees
United Airlines, which has struggled with labor relations for years, has created a new position called vice president – employee experience, naming Todd Arkenberg to the role.
Arkenberg was most recently managing director of United Express and will be tasked with improving the employee work environment, with initiatives such as employee recognition, leadership development and providing tools and training.
DENVER
Kwik-E-Marts return to no-Homer reality
The 11 7-Elevens across the U.S. converted to Kwik-E-Marts as part of a month-long promotion will lose their Simpsons makeovers today.
The chain plans to donate the life-size cartoon-character cutouts and set designs to local hospitals near the former Kwik-E- Marts.
Children’s Hospital of Denver is the metro-area recipient, though the Police Chief Wiggum cutout is going to the Denver Police Department. The hospital is planning a radio auction of the Simpsons memorabilia.
ASPEN
Lift-ticket fee raised to top of the heap
A one-day lift ticket to Aspen during peak ski season will cost you $87 at the window, up $5 from last season.
That walk-up price tops the $85 Vail charged last season for single-day tickets and gives Aspen the title of priciest lift ticket – at least for now.
MIAMI
Burger King to create custom-flavor chips
Burger King Holdings Inc., the second-largest U.S. hamburger chain, will join with Inventure Group Inc. to develop a line of chips with flavors inspired by its restaurants.
Burger King and snack-food manufacturer Inventure will begin sales of ketchup-and-fries chips in November. They will be available in vending machines, on airplanes and in convenience and grocery stores, Burger King said Tuesday in a statement.
CALGARY, Alberta
Suncor to expand mining operations
Suncor Energy Inc. plans to spend $4.14 billion to expand its northern Alberta mining operations, the second multibillion- dollar oil-sands project unveiled this week in Canada.
The mine is forecast to increase production of bitumen by 120,000 barrels a day, Suncor said Tuesday.
CUPERTINO, Calif.
Apple’s iTunes store tops 3 billion songs
Apple Inc. said its iTunes store, the world’s most popular source of online music, has sold more than 3 billion songs since its debut in 2003.
