Financial/Banking

Brooklyn, Ohio – The Weiss family, which founded the public American Greetings greeting card company is now looking to take it private. As reported by Reuters, the Weiss family is raising an existing buyout offer of $18.20 per share to $19 per share.

The increased offer was contained in a regulatory filing made July 1.
 

MONROE, Mich. — La-Z-Boy has nominated Michael T. Lawton to serve a one-year term on the company's board of directors. La-Z-Boy shareholders will get to vote at the annual meeting, Aug. 21.

Atlanta -- Jones Lang LaSalle has closed the sale of Shiloh Square Shopping Center on behalf of Torchlight Loan Services. Phillips Edison-ARC Shopping Center REIT Inc. purchased the 139,720 sq. ft. Kroger-anchored center.

“Shiloh Square is strongly positioned in one of Atlanta’s largest suburbs of Kennesaw, serving more than 70,000 residents within a three mile radius,” said Margaret Caldwell, managing director with JLL.

Atlanta -- Developer OliverMcMillan has secured a $167 million syndicated construction loan, led by PNC Capital Markets, LLC, to finance construction of Buckhead Atlanta, the mixed-use retail, residential and office development located in Atlanta’s Buckhead neighborhood.

The loan will cover the full construction of the six-block, 8-acre complex. Five lenders are involved, including PNC Bank, N.A., CIT Finance LLC, Compass Bank, Regions Bank and SunTrust Banks.

LOS ANGELES — Virtual Piggy has appointed Ivo Weevers as the company’s creative director of mobile design. Weevers will be charged with leading and managing the mobile consumer experience team.

Weevers has 15 years of experience in creating mobile, web, device and desktop products across multiple platforms. He has directed design work and lead international design teams in the telecom, device, social media, banking, travel, entertainment, medical automotive industries.

Shareholders of Coinstar, the company behind the ubiquitous RedBox dvd rental machines, have adopted the name Outerwall as a new corporate identify.

The name change was confirmed at the company's annual meeting of shareholder on June 27, but an official tally of voting results won’t be available until July 2.

ENGLEWOOD, Colo. — Sports Authority has appointed Michael Foss as the company’s new CEO, following Darrell Webb’s announcement that he is retiring as CEO and chairman of the board. 

Fremont, Calif. – George Zimmer, the founder and executive chairman of Men’s Wearhouse who was stripped of his executive chairman title last week and has been engaging in a war of words with the retailer ever since, continued his verbal battle in an open letter released on June 26.