Aviation tech giant buys B/E Aerospace

Aircraft component manufacturer Rockwell Collins announced its plan to acquire airplane interior maker B/E Aerospace for a staggering $6.4 billion on Sunday October 23.

The deal, which should finalize in the spring of 2017, will yield B/E shareholders $34.10 per share in cash and $27.90 worth of Rockwell Collins common stock. Rockwell will also take on the $1.9 billion in debt left behind by B/E Aerospace. The acquisition is a synergy of Cedar Rapids-based Rockwell Collins’ avionics expertise and Wellington, Florida’s B/E Aerospace’s cabin interior products. The merge expects to expand the range of products that Rockwell Collins provides to major commercial and business aircraft and also increase in customer base globally.

The buyout will have a cost savings of about $160 million and will cause a double-digit rise to earnings per-share in the first full year. B/E Aerospace CEO Werner Lieberherr is the newly-appointed executive vice-president and chief operating officer for the Rockwell Collins’ aircraft interior systems segment.

At the Arenson Law Group, PC, we handle business and corporate law. Contact us at (319) 363-8199 to find out more about your legal options.

Google, Apple, Intel and Adobe to resume mediation in hiring lawsuit

Silicon Valley giants Google, Apple, Intel, and Adobe have resumed talks with workers in a class action lawsuit over the companies’ hiring practices, Reuters reported on Wednesday, September 3.

Plaintiffs accuse the companies of agreeing to refrain from hiring each other’s valued engineers. Tech workers stated that the alleged agreement has decreased their ability to seek other employment opportunities, thereby limiting their growth and potential to earn.

Last month, a federal judge in California rejected the companies’ move to settle the allegation for $324.5 million, saying that the complainants should be given greater compensation.

A court date to hear the matter is set for September 10.

Business litigation may tremendously affect your livelihood. Therefore, it is important to seek attorneys who are well-versed in the intricacies of business and corporate law. If you need one in Cedar Rapids, contact an attorney at Arenson Law Group, PC, by calling (319) 363-8199 today.

Bank of America’s second quarter profit down due to large legal costs

Bank of America’s income last quarter was down 43 percent to $2.3 billion after the company posted $4 billion in legal fees, according to The Boston Globe on July 17.

Bank of America’s hefty legal costs diminished its second quarter profit to a large extent, pulling it down to 19 cents per share, which is far lower than the 29 cents per share that Wall Street analysts had expected. Among the bank’s many litigation-related expenses is a settlement with the American International Group for $650 million, which aimed to resolve mortgage securities claims.

Failing to secure the interests of your business during litigation may translate to harmful legal expenditures that may affect your business’ reputation and profits. As such, it is important to seek the representation of a qualified business litigation lawyer who can aggressively advocate for your business. To learn more about how our legal team at Arenson Law Group, PC, can represent the interests of your business, call our Iowa offices at (319) 363-8199 today.