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Dell investors may use courts to boost buyout share price

Adam Berry/Bloomberg Some major Dell Inc. shareholders who did not vote in favor of the computer company's buyout plan may seek a court ruling that could bump up the share buyout price. Greg Barr[1] Managing Editor- Austin Business Journal Email[2] A group of Dell Inc.[3] shareholders are considering seeking a higher payout in court than what company founder Michael Dell[4] and his partners offered in the deal to take the computer maker private. Bloomberg reports that the stockholders control a combined 47.5 million shares. The shareholders have filed papers in Delaware - where Dell was incorporated - seeking a valuation ruling through the Delaware Chancery Court[5]. The biggest shareholder involved is Baltimore-based T. Rowe Price Group Inc.[6] (Nasdaq: TROW), which has 30 million shares tied up in the deal. The stakeholders who control the 47.5 million shares - just under 3 percent of Dell's outstanding float at the time - withheld those shares from voting for the $24.9 billion buyout of the Round Rock-based company, led by Michael Dell[7] and private equity firm Silver Lake Management[8] LLC. The buyout was finalized on Oct. 30[9]. The process through the Delaware court is known as demanding appraisal rights. The shareholders have 60 days after a buyout is finalized to accept the share price offered by Dell-Silver Lake, which was $13.75. A Dell spokesman told Bloomberg the company was aware of the move by the shareholders. Separately, in the wake of the Dell buyout, two members of the company's senior management team have moved on to new jobs[10]. Greg Barr is managing editor of Austin Business Journal, responsible for day-to-day digital and print coverage. References^ Greg Barr (feeds.bizjournals.com)^ Email (feeds.bizjournals.com)^ Dell Inc. (www.bizjournals.com)^ Michael Dell (feeds.bizjournals.com)^ seeking a valuation ruling through the Delaware Chancery Court (www.bloomberg.com)^ T. Rowe Price Group Inc. (www.bizjournals.com)^ Michael…
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Wildfang raises $2 million

HTTP/1.1 200 OK Date: Thu, 28 Nov 2013 13:54:17 GMT Server: Apache Set-Cookie: bizj=deleted; expires=Thu, 01-Jan-1970 00:00:01 GMT; path=/; domain=.www.bizjournals.com X-UIN: vZATqBngLDl1e8ZLs%2FoWBA00c75faa ServerID: 10 Vary: Accept-Encoding Transfer-Encoding: chunked Content-Type: text/html Wildfang raises $2 million - Portland Business Journal Send this story to a friend Most Popular Most popular Slideshows Facebook Emailed Mobile Cool Spaces: Check out Ater Wynne's awesome deck[1] 18 Nike inventions that will lower your golf handicap[2] The List: Portland's top 10 marketing firms[3] PBJ100: See where the fastest-growing companies rank (Gallery)[4] Nike Doernbecher collection hits shelves Saturday[5] Like the Portland Business Journal Email Newsletter Signup Afternoon Edition: The latest local business news delivered to you each afternoon. References^ Cool Spaces: Check out Ater Wynne's awesome deck (feeds.bizjournals.com)^ 18 Nike inventions that will lower your golf handicap (feeds.bizjournals.com)^ The List: Portland's top 10 marketing firms (feeds.bizjournals.com)^ PBJ100: See where the fastest-growing companies rank (Gallery) (feeds.bizjournals.com)^ Nike Doernbecher collection hits shelves Saturday (feeds.bizjournals.com)...
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MidSouth Bank adds Austin market president

MidSouth Bank NA John Wattinger, Austin market president for MidSouth Bank NA. Greg Barr[1] Managing Editor- Austin Business Journal Email[2] MidSouth Bank NA has beefed up its executive ranks in several Texas markets, including naming John Wattinger[3] as city president in Austin, as the Lafayette, La.-based financial services player looks to expand market share. Wattinger, who has opened an office at 7000 MoPac Expressway, will oversee MidSouth Bank's operations in Central Texas. The Austin native, who has almost three decades of banking experience, most recently worked for Capital One[4] Bank as a senior loan officer. "This job offer allowed me to relocate back to Austin after 26 years in the Dallas-Ft. Worth area to help grow MidSouth Bank's ideas and community philosophy that fit perfectly in the Central Texas market," Wattinger said in a statement. In addition to hiring Wattinger, MidSouth said it had added Gary Junek[5], as city president in Houston, and Lee Hertel[6] as a vice president and commercial lender in Fort Worth, part of the Dallas-area metroplex. "This is a competitive banking and employment environment, and we have devoted considerable time and resources to this state and will continue to hire talented bankers who have spent their careers building relationships here," said MidSouth Bank Chief Banking Officer Troy Cloutier[7] in a statement. Cloutier added that Texas' overall economy, particularly its job growth, sales tax collections and construction permits, is the envy of the country. MidSouth Bank is the banking arm of MidSouth Bancorp Inc. (NYSE: MSL), with total assets of $1.9 billion. Greg Barr is managing editor of Austin Business Journal, responsible for day-to-day digital and print coverage. References^ Greg Barr (feeds.bizjournals.com)^ Email (feeds.bizjournals.com)^ John Wattinger (feeds.bizjournals.com)^ Capital One (www.bizjournals.com)^ Gary Junek (feeds.bizjournals.com)^ Lee Hertel (feeds.bizjournals.com)^ Troy Cloutier (feeds.bizjournals.com)...
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Honolulu’s CKW Financial Group joins national Envestnet network

Jenna Blakely[1] General Assignment Reporter- Pacific Business News Email[2] | Twitter[3] Honolulu-based wealth management firm CKW Financial Group has partnered with national wealth management provider Envestnet[4] to join a broader network that expands the local firm’s reach, the company said Friday. Envestnet[5] is a service that helps to vet financial groups and services for its global clientele. As one of only 25 approved companies in the nation to join, CKW Financial Group[6] is now accessible to Envestnet’s international clientele spanning 5,000 investment firms. “Being a part of Envestnet is like being a part of a trusted circle. For investors, it means that someone else has done all of the heavy lifting, reviewed and vetted the advisor you work with, so you know who you can trust and will deliver solid results,” CKW Principal Lynne Kinney[7] said in a statement. Joining this network comes just four years after CKW Financial Group launched in Honolulu. “The backing of a reputable and nationally recognizable platform like Envestnet allows us to continue to look forward and, more importantly, to leverage our time so we can focus on serving clients and the Hawaii community,” added Carl Choy[8], also a principal of the local firm. Envestnet oversees more than $127 billion in total assets served and more than 909,000 investor accounts. CKW Financial Group[9] has more than $850 million in discretionary and non-discretionary assets. References^ Jenna Blakely (feeds.bizjournals.com)^ Email (feeds.bizjournals.com)^ Twitter (twitter.com)^ Envestnet (www.bizjournals.com)^ Envestnet (www.envestnet.com)^ CKW Financial Group (www.ckwhawaii.com)^ Lynne Kinney (feeds.bizjournals.com)^ Carl Choy (feeds.bizjournals.com)^ CKW Financial Group (www.bizjournals.com)...
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SunEdison gets more financing for Chilean solar plant

Staff St. Louis Business Journal SunEdison Inc. said it has closed on $100.4 million in additional financing for its planned solar power plant in the Atacama Desert in Chile. The Overseas Private Investment Corporation (OPIC), the U.S. government’s development finance institution, will provide $62.9 million of the debt, St. Peters-based SunEdison announced Wednesday. IFC, a member of the World Bank Group, will provide a parallel loan of $37.5 million, and Rabobank[1] will provide a Chilean peso VAT (value-added tax) loan worth $25.6 million. SunEdison expects to complete construction of the 100-megawatt-peak, company-owned plant in the first quarter of 2014. Construction began in August. In an earlier financing[2], IFC had previously provided $65 million in debt for the deal. OPIC also had previously provided a $147.5 million loan, and Rabobank previously provided another Chilean peso VAT worth $45 million. SunEdison announced in February[3] that it had signed an agreement with Chilean mining and steel group CAP to construct the Amanecer Solar CAP plant, which is targeted to produce as much as 15 percent of CAP’s energy needs. The plant will feature more than 300,000 SunEdison photovoltaic solar modules mounted on single-axis solar trackers. It is expected to be the largest solar power plant in Latin America. SunEdison Inc. (NYSE: SUNE), formerly MEMC Electronic Materials[4], is led by CEO Ahmad Chatila[5]. The company reported a third-quarter net loss of $112.1 million on net sales of $611.5 million. It plans to spin off its semiconductor business through a public offering scheduled for early next year. References^ Rabobank (www.bizjournals.com)^ In an earlier financing (www.bizjournals.com)^ announced in February (www.bizjournals.com)^ MEMC Electronic Materials (www.bizjournals.com)^ Ahmad Chatila (feeds.bizjournals.com)...
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Student loan debt holding economy back

Staff St. Louis Business Journal As the Federal Reserve Bank of St. Louis[1] prepares to host an event on rising student debt Monday[2], experts say the problem has worsened in recent years. Nationally, student loan debt totals more than $1 trillion, more than credit card debt and car loans. Student loans in the St. Louis metropolitan area total 38.9 percent of all debt other than home mortgages.[3] Consumer Financial Protection Bureau[4] Assistant Director and Student Loan Ombudsman Rohit Chopra[5] told St. Louis Public Radio that the rise in student debt may have a broad impact on the economy. "Whether it’s buying a first home or starting a small business, many young Americans are finding their student debt is holding them back," Chopra said. "... We find that many young Americans may not be able to contribute to their employer’s retirement plan because student debt is eating up so much of their paychecks." References^ Federal Reserve Bank of St. Louis (www.bizjournals.com)^ event on rising student debt Monday (www.stlouisfed.org)^ total 38.9 percent of all debt other than home mortgages. (www.bizjournals.com)^ Consumer Financial Protection Bureau (www.bizjournals.com)^ Rohit Chopra (feeds.bizjournals.com)...
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