St. Louis Corporate Mergers, Acquisitions & Relocations

gone corporate · PostSep 03, 2019#10262019-09-03T16:27+00:00

dredger wrote:Don't see anything wrong either but just don't see NGIA too excited to bring on GSA and government services on what is being built as a very secure intelligence campus. Kinda like GSA asking the DOD to put some social security folks at the Pentagon.

This. NGA West is an intelligence community HQ, not just another Federal agency office space. Maybe the FBI STL field office could move to a corner of their site, but not the USDA.

Hopefully the USDA's need for new digs by 2024 will spur new development in an existing Downtown property, whether 909 Chestnut or some other building. I'm highly doubtful they'd want to locate to a redeveloped Butler Brothers building or comparable historic structure, but perhaps they'd take room at a regular corporate office tower in Downtown.

Idea: USDA could build new in the area surrounded by 14th street to the East; Clark Street to the North; 18th Street to the West; and 64/40 to the South. Basically, this is the spot between the Enterprise Center and the elevated highway lanes. This area already features one new Federal office building (DEA) and is proximate to both the Young Building and City Hall / City Hall West. It's also has open land ready for development and sits alongside the sunken MetroLink path. There are two large parking lots there right now just begging to be redevelopment into a mid-rise office building.

dredger · PostSep 03, 2019#10272019-09-03T21:47+00:00

gone corporate wrote:
dredger wrote:Don't see anything wrong either but just don't see NGIA too excited to bring on GSA and government services on what is being built as a very secure intelligence campus. Kinda like GSA asking the DOD to put some social security folks at the Pentagon.
Idea: USDA could build new in the area surrounded by 14th street to the East; Clark Street to the North; 18th Street to the West; and 64/40 to the South. Basically, this is the spot between the Enterprise Center and the elevated highway lanes. This area already features one new Federal office building (DEA) and is proximate to both the Young Building and City Hall / City Hall West. It's also has open land ready for development and sits alongside the sunken MetroLink path. There are two large parking lots there right now just begging to be redevelopment into a mid-rise office building.

Gone Corporate, I think you idea would make for a very good outcome for the city/downtown. Probably one big issue would be multiple property owners if not mistaken including the US post office owning a chunk of the property to park vehicles if not mistaken and the surface lot owners wanting a premium to give up their Enterprise Center/Blues parking revenues.

As far as the one new Federal Office Building (DEA), wasn't the VA in some of the space at one point as well before GSA consolidated VA into county location?

urbanitas · PostSep 04, 2019#10282019-09-04T06:13+00:00

^The VA was in that vacant office building on the east side of 18th St. As for the surface lot, a big chunk is owned by Amtrak, and the rest by St. Louis Parking Company.

That would be a great place for a new federal building, I just highly doubt the GSA is going to be able to get the funding to build a high-rise building to house 2,000 pixel pushers. Agencies / departments like the VA, SSA, USDA, etc. are at the back of the line when it comes to funding for shiny new offices. I think the only way that happens is if some influential politician pushes it hard as part of some urban renewal positive PR campaign. That is why the Pruitt-Igoe site might provide the best chance of getting a new building built. I could see some sort of public-private partnership working, possibly...

Ebsy · PostSep 06, 2019#10292019-09-06T02:24+00:00

Surprised no one has posted about Mallinckrodt's potentially impending bankruptcy. They had attempted to spin off their St. Louis based Specialty Generics business but did not manage to, so St. Louis operations could be impacted.

dbInSouthCity · PostSep 06, 2019#10302019-09-06T02:34+00:00

Ebsy wrote: Surprised no one has posted about Mallinckrodt's potentially impending bankruptcy. They had attempted to spin off their St. Louis based Specialty Generics business but did not manage to, so St. Louis operations could be impacted.

Don’t really feel bad for these companies that knowingly created the opioid crisis. They should be strip of assets and left to die

framer · PostSep 06, 2019#10312019-09-06T05:58+00:00

I guess I don't get it. They were selling a legal product that was approved by the FDA.

dbInSouthCity · PostSep 06, 2019#10322019-09-06T13:05+00:00

framer wrote: I guess I don't get it. They were selling a legal product that was approved by the FDA.

sc4mayor · PostSep 16, 2019#10332019-09-16T15:12+00:00

Another small acquisition in the St. Louis tech scene. A Los Angeles based email marketing startup is merging with Kirkwood based Hatchbuck. The combined business and its leadership will be based out of St. Louis instead of LA.

https://www.stltoday.com/business/colum ... 51de1.html

chaifetz10 · PostSep 17, 2019#10342019-09-17T20:52+00:00

Doesn't feel like this should deserve its own thread, and the site is hidden off of Schuertz Road, but a decent expansion and potential for jobs growth:

https://www.bizjournals.com/stlouis/new ... on-in.html

rbb · PostSep 18, 2019#10352019-09-18T14:40+00:00

Is it just me or does that building on the right look *a lot* like a Drury Inn?

-RBB

urbanitas · PostSep 18, 2019#10362019-09-18T22:54+00:00

^Looks better than any Drury Inn I have seen. A Drury Plaza, like the one at Streets of St. Chuck, maybe...: Edit: lol My bad, your picture did not load for some reason when I responded. That's a dead ringer... Same "architect", probably...

wabash · PostSep 19, 2019#10372019-09-19T00:10+00:00

rbb wrote:Is it just me or does that building on the right look *a lot* like a Drury Inn?

-RBB

Good call. That was my first thought upon seeing the rendering. Maybe the CEO just really loves those free Drury breakfasts.

chaifetz10 · PostSep 19, 2019#10382019-09-19T14:50+00:00

To clarify, I believe the Drury looking building on the right already exists, it's the expansion building to it's left that will be new. I had zero clue this was even hidden back there.

dmelsh · PostSep 19, 2019#10392019-09-19T15:00+00:00

chaifetz10 wrote:To clarify, I believe the Drury looking building on the right already exists, it's the expansion building to it's left that will be new. I had zero clue this was even hidden back there.

Yes the building on the right has been around awhile, they are added the building to the left. I worked at SN until last year when I change to Emerson. The company sells Excess Insurance and growing very fast into other lines. This has been in the works for awhile as there is no room in the current building. There was talks that another building could be added to the front of the property in the future.

gone corporate · PostSep 23, 2019#10402019-09-23T16:25+00:00

Good news: STL will soon be headquarters to another publicly traded company.

STL Biz Journal: Post's active nutrition spinoff files for IPO as BellRing Brands

BellRing Brands' initial public offering is anticipated to take place this fall. This is a spin-off as its parent company, Post Holdings, is making this division its own independent corporation, based on a previous acquisition. The company's active nutrition offerings focus on blended proteins; its major brands include Power Bar, Dymatize, Premier Protein, Supreme Protein, and Joint Juice. BellRing will be headquartered in STL (likely Mid County near Post Holdings' HQ) with primary manufacturing in Emeryville, CA, which is where the company has historically manufactured its products.

wabash · PostSep 23, 2019#10412019-09-23T18:29+00:00

^It could easily see a valuation up over $1.25 billion, which would make it more valuable than a number of other prominent publicly traded St. Louis companies: Caleres, Enterprise Financial, Malinckrodt, Arch Coal, Perficient, Cass Information Systems, among others.

sc4mayor · PostSep 26, 2019#10422019-09-26T14:47+00:00

Not too much to report here but the Centene-Wellcare deal is moving forward.

Wellcare has agreed to sell off it's Missouri and Nebraska Medicaid plans to Anthem to satisfy anti-trust concerns.

https://www.stltoday.com/reuters/wellca ... dbb5c.html

sc4mayor · PostSep 28, 2019#10432019-09-28T13:37+00:00

From this morning's Post-Dispatch:

Hedge fund reportedly pushing for breakup of Emerson
https://www.stltoday.com/business/local ... dbf40.html

RockChalkSTL · PostSep 28, 2019#10442019-09-28T13:58+00:00

How badly could this play out for St. Louis?

If all broken up divisions of Emerson would stay in St. Louis, I think the damage would be minimal. But the problem is that I'm skeptical that would happen.

Ebsy · PostSep 28, 2019#10452019-09-28T16:08+00:00

KansasCitian wrote:How badly could this play out for St. Louis?

If all broken up divisions of Emerson would stay in St. Louis, I think the damage would be minimal. But the problem is that I'm skeptical that would happen.

More likely part of their spun off business would be acquired by someone out of town and that would be very bad for St. Louis.

framer · PostSep 28, 2019#10462019-09-28T16:10+00:00

I miss Charles Knight.

RockChalkSTL · PostSep 28, 2019#10472019-09-28T16:43+00:00

What are the actual chances this happens?

sc4mayor · PostSep 28, 2019#10482019-09-28T17:05+00:00

^ Well no one here would know the answer to that.

There is an equal chance a spun off business could remain in St. Louis too, similar to a recent announcement by Post's new spin off. Or an out of town company acquires one of these units and could still keep much of the operation here as we have seen with Wells Fargo, Express Scripts, Bayer (so far) and some others. No need to press the panic button right now, this hedge fund doesn't have a large enough stake to force a break up...yet.

Emerson employs about 1,400 in St. Louis.

sc4mayor · PostSep 29, 2019#10492019-09-29T15:17+00:00

The Bottom Line with Jim Gallagher and David Nicklaus was about Bunge this week. Not a lot of new info, really just their take on the whole thing. It does seem I've been pronouncing Bunge wrong this whole time though haha.

https://www.stltoday.com/business/local ... the-latest

gone corporate · PostSep 30, 2019#10502019-09-30T16:48+00:00

sc4mayor wrote:From this morning's Post-Dispatch:

Hedge fund reportedly pushing for breakup of Emerson
https://www.stltoday.com/business/local ... dbf40.html

EMR could definitely be performing better as a stock. It has quite respectable year/year earnings growth, and it has consistent dividends. But, the stock has barely budged in price over the last 5 years. I'm positive the Trade Wars have been detrimental to some of its divisions, as the last thing this company (or any major large cap conglomerate manufacturer) wants to see is a ton of tariffs on our largest trading partners. Still, changes could definitely improve the company's stock performance. Perhaps there's value here.

Two quick notes: First, the company has a price/book ratio of 4.72, which makes it relatively expensive. While DE Shaw is acquiring shares, it's not a likely target for a full buy-out. Second, we should consider that, perhaps, a split could end up with one company HQ'd in STL becoming two companies HQ'd in STL.

This is very early and certainly no time to panic. We don't know a lot just yet. Right now, all we have is a new large investor buying shares and increasing the price.

St. Louis Corporate Mergers, Acquisitions & Relocations

Choose Display Mode