The company said in its latest financial filing that it plans to open 12 new stores within the next 11 months. They include locations in 11 states including one in Lynchburg. It said capital expenditures will be $325 million in fiscal 2015 and it plans to open between 10 and 15 superstores in each of the following two fiscal years.
The company is looking to raise $900 million in equity through an offering of corporate units at $50 per unit. It said it will use the money for general corporate purposes and to fund its growth plan including the Cove Point liquefaction project.
Media General (MEG)
The TV station owner said it has struck an agreement to acquire WHTM TV, Channel 10, an ABC affiliate in Harrisburg, Pa. from Sinclair Broadcast Group. Media General said it will pay $83.4 million in cash for the station. The deal is still pending.
Owens & Minor (OMI)
The healthcare supply logistics firm is working a $208 million acquisition of Medical Action Industries Inc., a leading producer of custom procedure trays and minor procedure kits. O&M will acquire will acquire all outstanding shares of Medical Action for $13.80 per share in cash. Medical Action reported $287.8 million in net sales from continuing operations for the fiscal year ended March 31. Approximately 45 percent of those sales were to Owens & Minor. The company expects the deal to close in the fourth quarter.
Union Bankshares (UBSH)
The parent of Union Bank was named to the NASDAQ Financial-100 IndexSM, effective June 23. The index includes 100 of the largest financial securities listed on the NASDAQ stock market based on market capitalization.