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Under pressure to sell itself, Vitesse plans $30M stock offering

By   /  Wednesday, June 19th, 2013  /  Banking & Finance, Latest news, Technology, Tri-County Public Companies  /  Comments Off on Under pressure to sell itself, Vitesse plans $30M stock offering

Shares of Camarillo-based Vitesse Semiconductor Corp. were down 15 percent to $2.30 in mid-day trading June 19 as the company announced a public stock offering to raise up to $30 million. The move comes as the company faces pressure from Columbia Pacific Advisors, an investment firm that owns nearly 10 percent of Vitesse, to sell Read More →

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Dole CEO offers $1.1 billion to take firm private

By   /  Tuesday, June 11th, 2013  /  Banking & Finance, Latest news, Tri-County Public Companies  /  Comments Off on Dole CEO offers $1.1 billion to take firm private

Westlake Village-based Dole Food Co.’s stock soared more than 21 percent Tuesday morning as CEO David Murdock made a cash offer of $12 a share for the 60 percent of the company he doesn’t own in a deal valued at $1.1 billion. Dole is one of the biggest producers and importers of fresh fruit and Read More →

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$243M merger comes with fine, branch closures

By   /  Friday, June 7th, 2013  /  Banking & Finance, Banking Industry, Top Stories, Tri-County Economy, Tri-County Public Companies  /  Comments Off on $243M merger comes with fine, branch closures

PacWest Bancorp’s contentious acquisition of First California Bank has closed but the dust hasn’t settled yet on the $243 million merger. As the deal was sealed, the banks announced that federal regulators had ordered First California to pay a $600,000 fine and set up $1.1 million in restitution to more than 64,000 consumers who had Read More →

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Amgen teams up for Chinese joint venture

By   /  Friday, May 17th, 2013  /  Banking & Finance, Latest news, Technology, Tri-County Public Companies  /  Comments Off on Amgen teams up for Chinese joint venture

Thousand Oaks-based biotech giant Amgen has teamed up with a Chinese company for a joint venture to sell its colorectal cancer drug Vectibix there. Zhejiang Beta Pharma will be 51 percent owner of the the new firm, which will be known as Amgen-Beta Pharmaceuticals. The deal is still subject to approval from Chinese authorities. Amgen’s Read More →

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Moorpark mints new public company: PennyMac workforce in city reaches 1,000

By   /  Friday, May 17th, 2013  /  Banking & Finance, Banking Industry, Features, Personal Finance, Tri-County Economy, Tri-County Public Companies  /  Comments Off on Moorpark mints new public company: PennyMac workforce in city reaches 1,000

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FCAL merger with PacWest set to close May 31

By   /  Tuesday, May 14th, 2013  /  Banking & Finance, Banking Industry, Latest news, Tri-County Public Companies  /  Comments Off on FCAL merger with PacWest set to close May 31

Los Angeles-based PacWest Bancorp and Westlake Village-based First California Financial Group have received the go-ahead from federal banking regulators to finalize a $237 million merger. The deal, which will merge First California into PacWest and likely result in about a dozen overlapping branches being shuttered, is expected to close on May 31. The banks said Read More →

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PennyMac shares jump 2.6% on second day of trading

By   /  Friday, May 10th, 2013  /  Banking & Finance, Banking Industry, Latest news, Tri-County Public Companies  /  Comments Off on PennyMac shares jump 2.6% on second day of trading

Shares of PennyMac Financial Services climbed another 2.6 percent the day after they started trading publicly for the first time. The Moorpark-based company, founded in 2008 by former top executives at Countrywide Financial Corp., raised just over $200 million in its initial public offering of stock after opening with a share price of $18.25 on Read More →