Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Heinz-Kraft Merger Clears One Regulatory Hurdle; Teva Increases Stake in Mylan; Pittsburgh Credit Unions Land on Watch List

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Heinz-Kraft Merger Clears One Regulatory Hurdle; Teva Increases Stake in Mylan; Pittsburgh Credit Unions Land on Watch List

Article excerpt

Heinz-Kraft merger moves ahead

The proposed merger of the H.J. Heinz Co. and Kraft Foods Group has passed one hurdle, with federal regulators allowing a required waiting period to pass without raising objections to the deal. Pittsburgh-based Heinz and Northfield, Ill.-based Kraft said the Hart-Scott-Rodino antitrust waiting period had expired. Canadian regulators are still looking over the proposed merger. Kraft shareholders are scheduled to vote July 1 in Chicago on the deal to create a single company with about $28 billion in annual revenue.

Teva increases stake in Mylan

Israel's Teva Pharmaceutical Industries has widened its stake in local generic drugmaker Mylan to 13.54 million shares for a 2.76 percent stake, according to a government filing Tuesday. That's up from 2.46 percent earlier in the week and 2.2 percent last week.

Six area credit unions earn poor BauerFinancial ratings

Six Pittsburgh-area credit unions landed on BauerFinancial's list of problem financial institutions for the first quarter: Beaver Avenue credit union, North Side; Iron Workers, Downtown; Pittco of Pittsburgh, Downtown; Pittsburgh Central, Sewickley; Shacog, Mt. Lebanon, and Teamsters Local 30, Jeannette. Institutions earning two stars or fewer out of five end up on the independent research group's problem list. All of the local credit unions on the problem list earned two stars, except for Teamsters Local 30, which earned one star. There were no area banks on the problem list.

Matrix Solutions newest tenant in Nova Place project

New York developer Faros Properties has wasted no time in landing another tenant for its Nova Place project in the former Allegheny Center Mall on the North Side. Matrix Solutions has signed a lease to occupy about 8,000 square feet in Nova Tower 1. The North Side firm plans to move into its new space early next year. …

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