Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

BUSINESS BRIEFS [Derived Headline]

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

BUSINESS BRIEFS [Derived Headline]

Article excerpt

BUMBLE BEE FOODS FINED $25 MILLION, ADMITS PRICE FIXING

Tuna canner Bumble Bee Foods will pay a $25 million fine after pleading guilty to conspiring with competitors to fix prices, the U.S. Department of Justice said. The San Diego-based company will cooperate with an antitrust probe into the packaged seafood industry, the agency said. The fine will increase to $81.5 million if the company is sold. Justice said in December that Bumble Bee and Chicken of the Sea were abandoning a planned merger after the department raised concerns the transaction would harm competition.

BANK OF AMERICA PULLS BACK NORTH SIDE OPERATIONS

Bank of America is scaling back its operations center in the former Allegheny Center Mall on the North Side, throwing 112 people out of work. The cuts reflect "previously announced efforts to reduce complexity and simplify our company," bank spokesman Mark Pipitone said in an email. He said the center would remain open, but wouldn't say how many jobs were left.

SHAREHOLDER FILES LAWSUIT AGAINST AKZONOBEL

Activist hedge fund Elliott Advisors said it filed a lawsuit in The Netherlands seeking to oust the chairman of AkzoNobel, the Dutch paints maker PPG is trying to acquire. Elliott's suit asks for a special meeting of Akzo shareholders to debate a proposal to remove Antony Burgmans because Akzo rejected PPG's latest offer for the company valued at $29 billion. Elliott, which owns a 3 percent stake in Akzo, claims its boards violated their fiduciary duty and financial law by turning down the bid. PPG has said it may launch a hostile takeover of Akzo and under Dutch law must do that by June 1.

EVOQUA PURCHASES TEXAS WATER TREATMENT PROVIDER

Evoqua Water Technologies said it has agreed to purchase Noble Water Technologies, a Dallas-based provider of water equipment and treatment systems. Terms of the deal were not disclosed. Evoqua, which develops water treatment technology for municipalities and industrial customers, touted the purchase as a good fit for both companies. …

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