Cardinals should lure Post to BPV
Nothing earth shattering but Stewart Title (one of the oldest and biggest title companies around) has bought LandSafe Title from bank of america (closing May 31st) LandSafe has an office in the Anthem building across the street from Union Station. They will most likely stay there and maybe even expend.
The execs are in St. Louis, but this is not - at least on paper - a St. Louis company.sirshankalot wrote:wrong..all their execs are here in STL, up by the airport. this is STL HQ
Not to nitpick, but Mallinckrodt refers to its St. Louis office as the "U.S. Headquarters" (link).moorlander wrote:No it's a Dublin company. Only the NA HQ is here.
Same difference, but different.
Either way......I'm sure St. Louis is making most - if not all - of the company's decisions.
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Even if they aren't HQ here St.Louis and the region still benefits from it. We're home to some very impressively powerful companies and we'll be adding more to the book in the near future...
Energizer to split into two companies: (Battery and personal care)
http://www.stltoday.com/business/local/ ... c086e.html
They are based near 40 and 141. Not sure how many people they employee. But if enough, maybe they can move the personal care division downtown?
On a complete OT note. What is that BIG corporate office looking building going up on the 40 near 141 on the north side. It looks huge. Who is it for?
http://www.stltoday.com/business/local/ ... c086e.html
They are based near 40 and 141. Not sure how many people they employee. But if enough, maybe they can move the personal care division downtown?
On a complete OT note. What is that BIG corporate office looking building going up on the 40 near 141 on the north side. It looks huge. Who is it for?
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^ RGA is building the new HQ a bit west of 141. BJC will also be building a pediatric care facility by 141 but I don't think construction has started in earnest yet.
A couple miles west of 141 is the new RGA headquarters which is going up. It's not super-tall, but has a HUGE footprint. Maybe that's what you're seeing?
The good thing about this split is that both CEOs of the newly-separated companies have long histories of working for St. Louis area companies. Also, these guys are older gentlemen (57 and 69, respectively), who are less likely to pull up stakes and move. It may not mean anything, but they already have strong ties and roots in the region.zink wrote:Energizer to split into two companies: (Battery and personal care)
http://www.stltoday.com/business/local/ ... c086e.html
Ward Klein seems to be a Midwesterner (St. Olaf College, NW Kellogg, Brown Shoe, Federal Reserve of STL etc.) He will be over the $2.6-billion personal products company.
J. Patrick Mulcahy has been with Solutia, Post Foods, Ralcorp, Nestle Purina-Petcare. He will be over the $1.9-billion household products company.
If St. Louis can maintain both companies, it'll be great. It would be even better if one of the companies could be persuaded to lease a new tower at Ballpark Village.
I sure hope CORDISH and the Cardinals organization are paying attention to this development.
Thanks for the background checks AC. Good to see there are strong STL ties on both sides of the split.
My hope is that Ward Klein stays in St. Louis and moves his new company to Ballpark Village. He has worked downtown at the Federal Reserve so downtown shouldn't be too "scary" for him.
I am making assumptions, but J. Patrick Mulcahy is older and might prefer to stay out west.
I am making assumptions, but J. Patrick Mulcahy is older and might prefer to stay out west.
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^ sounds good. Post-Dispatch says the (combined) company has 440 employees in its leased HQ. So let's say the new company has 200-250 employees to begin with an eye on some growth... not a huge number for sure but perhaps enough to be an anchor tenant for a modest tower -- surely a few other companies would be interested in leasing new, flexible Class A space. Of course, filling up some of the vast amount of vacancies downtown would be nice as well.
And McKee.arch city wrote: I sure hope CORDISH and the Cardinals organization are paying attention to this development.
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Its makes me paranoid how little infrastructure they have in St. Louis. Most of the R&D appears to be on the East coast and there's not even any local production to speak of. Not to mention how dividing into pieces makes a company very appetizing to the bigger competitors in the market. All the personal care companies (P&G, Unilever, Kimberly-Clark, Johnson&Johnson, Colgate) will probably start positioning themselves for an acquisition of that new company since its brands are of high value, but the company's brand is so tied to the battery market. I'm pretty pessimistic on this news.
I feel you, but the company (as it is now) has had little to no infrastructure in St. Louis for a long time. However, there's likely manufacturing plants all over the country and overseas. STL is centrally located.
Truthfully, a lack of local infrastructure means little. If infrastructure mattered a lot, St. Louis would have Dynegy, Inc. or Peabody would be headquartered in West Virginia or Wyoming if local infrastructure dictated where a HQs would be. Charter would still call St. Louis home. Heritage Home Group (formerly Furniture Brands) leaving St. Louis for North Carolina makes sense because a high percentage of furniture is manufactured in North Carolina.
At the end of the day, business is business.
However, why couldn't the companies separate then set their eyes on acquisitions. Perhaps there are brands that Kimberly-Clark, P&G, J&J or Colgate would like to unload. Maybe Klein's company could go after Henkel's Dial Corporation or Clorox. Perhaps they'd go after smaller companies to build a bigger portfolio. Maybe Mulcahy's firm would go after another personal products company.
I know P&G is about to unload its pet foods/products division to Mars, Inc. (Mars Petcare). Mars' Petcare division is based in Nashville. Just an example.
Point is, anything could happen including the gobbling up of the local spinoffs by larger competitors, but that's what some people thought would happen to Post Foods - and now look at it.
Truthfully, a lack of local infrastructure means little. If infrastructure mattered a lot, St. Louis would have Dynegy, Inc. or Peabody would be headquartered in West Virginia or Wyoming if local infrastructure dictated where a HQs would be. Charter would still call St. Louis home. Heritage Home Group (formerly Furniture Brands) leaving St. Louis for North Carolina makes sense because a high percentage of furniture is manufactured in North Carolina.
At the end of the day, business is business.
However, why couldn't the companies separate then set their eyes on acquisitions. Perhaps there are brands that Kimberly-Clark, P&G, J&J or Colgate would like to unload. Maybe Klein's company could go after Henkel's Dial Corporation or Clorox. Perhaps they'd go after smaller companies to build a bigger portfolio. Maybe Mulcahy's firm would go after another personal products company.
I know P&G is about to unload its pet foods/products division to Mars, Inc. (Mars Petcare). Mars' Petcare division is based in Nashville. Just an example.
Point is, anything could happen including the gobbling up of the local spinoffs by larger competitors, but that's what some people thought would happen to Post Foods - and now look at it.
Both executives live in the Clayton area, so hopefully that means any new office space would move east from their current location in Town & Country.arch city wrote:The good thing about this split is that both CEOs of the newly-separated companies have long histories of working for St. Louis area companies. Also, these guys are older gentlemen (57 and 69, respectively), who are less likely to pull up stakes and move. It may not mean anything, but they already have strong ties and roots in the region.zink wrote:Energizer to split into two companies: (Battery and personal care)
http://www.stltoday.com/business/local/ ... c086e.html
Ward Klein seems to be a Midwesterner (St. Olaf College, NW Kellogg, Brown Shoe, Federal Reserve of STL etc.) He will be over the $2.6-billion personal products company.
J. Patrick Mulcahy has been with Solutia, Post Foods, Ralcorp, Nestle Purina-Petcare. He will be over the $1.9-billion household products company.
If St. Louis can maintain both companies, it'll be great. It would be even better if one of the companies could be persuaded to lease a new tower at Ballpark Village.
I sure hope CORDISH and the Cardinals organization are paying attention to this development.
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So basically like many spinoffs, this deal allows Energizer to shed itself of a struggling, less profitable business unit - in this case, batteries (household products).
It's interesting that Mulcahy was involved in Solutia, which was Monsanto's divestiture of its chemical business - a spinoff that actually proved to be successful. As I understand it, Solutia was essentially destined to fail, as it was saddled with a huge amount of debt and excessive legacy costs from the outset. It filed for bankruptcy and emerged from its reorganization as a stronger company, leading to its eventual sale to Eastman. It's too bad for STL that Solutia didn't continue to operate as an independent company, but it has to be viewed as a successful spinoff overall.
It will be interesting to see what happens with both units. If they can both operate successfully from STL, that would be excellent. In terms of employment, leasing office space, etc., redundancies are a good thing.
It's interesting that Mulcahy was involved in Solutia, which was Monsanto's divestiture of its chemical business - a spinoff that actually proved to be successful. As I understand it, Solutia was essentially destined to fail, as it was saddled with a huge amount of debt and excessive legacy costs from the outset. It filed for bankruptcy and emerged from its reorganization as a stronger company, leading to its eventual sale to Eastman. It's too bad for STL that Solutia didn't continue to operate as an independent company, but it has to be viewed as a successful spinoff overall.
It will be interesting to see what happens with both units. If they can both operate successfully from STL, that would be excellent. In terms of employment, leasing office space, etc., redundancies are a good thing.
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Stifel Financial acquires London based investment firm. Stifel seems to be in full blown acquisition mode, and is interested in stepping up its European operations.
http://www.stltoday.com/business/local/ ... b90fe.html
http://www.stltoday.com/business/local/ ... b90fe.html
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Here is an interesting one... apparently Ascension Health is looking at acquiring Wellpoint or perhaps Centene:
http://www.cnbc.com/id/101708121?__sour ... ital+to+bu
I don't think it would help Saint Louis region too much if they got Centene but perhaps if they got Wellpoint. Anyway, if true that is a big play that would boost the profile of this rather sleepy Catholic care system -- doubt very many even know they are by the airport.
Separately, the Bus Journal had an articles last week or so on how Post Holdings and Express Scripps are hungry for more acquisitions.
http://www.cnbc.com/id/101708121?__sour ... ital+to+bu
I don't think it would help Saint Louis region too much if they got Centene but perhaps if they got Wellpoint. Anyway, if true that is a big play that would boost the profile of this rather sleepy Catholic care system -- doubt very many even know they are by the airport.
Separately, the Bus Journal had an articles last week or so on how Post Holdings and Express Scripps are hungry for more acquisitions.
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Ascension is really milking their nonprofit status. No wonder Centene stock skyrocketed 4% yesterday.
Speaking of Centene. They are scouting a Dental Insurance company to buy later in 2014. They are currently trying to decide where to locate it. I've heard Chicago mentioned.
Speaking of Centene. They are scouting a Dental Insurance company to buy later in 2014. They are currently trying to decide where to locate it. I've heard Chicago mentioned.
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They're looking at WellCare Health Plans, as opposed to WellPoint, which is a massive company.roger wyoming II wrote:Here is an interesting one... apparently Ascension Health is looking at acquiring Wellpoint or perhaps Centene:
http://www.cnbc.com/id/101708121?__sour ... ital+to+bu
I don't think it would help Saint Louis region too much if they got Centene but perhaps if they got Wellpoint. Anyway, if true that is a big play that would boost the profile of this rather sleepy Catholic care system -- doubt very many even know they are by the airport.
Separately, the Bus Journal had an articles last week or so on how Post Holdings and Express Scripps are hungry for more acquisitions.
It looks like WellCare (based in Tampa) is the more likely acquisition target. Would be great to see St. Louis continue to become a center of Managed Care insurance companies and grow with ObamaCare.
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I found that to be quite interesting for them to even eye Centene since they are doing so well..
The silver lining is - both Ascension Health and Centene are based here in STL.