Otis Spunkmeyer closing Western Pennsylvania plant
Otis Spunkmeyer has shut down a Western Pennsylvania production plant, idling 130 workers. Company spokeswoman Kathy Lenkov said work that had been done in the Export plant will move to four other U.S. bakeries controlled by parent company Aryzta AG. Otis Spunkmeyer makes cookies, muffins and other baked goods.
Vintage Grand Prix picks philanthropy as sponsor
The Greater Pittsburgh Automobile Dealers Foundation is the new presenting sponsor of the Pittsburgh Vintage Grand Prix. The foundation is the independent philanthropic arm of the Greater Pittsburgh Automobile Dealers Association. Pittsburgh Vintage Grand Prix events run from July 11 to 20.
Proxy advisory firm seeks ouster of most of Target’s board
Institutional Shareholder Services, a prominent proxy advisory firm, on Wednesday recommended that Target shareholders vote out seven of its 10 board members after a massive pre-Christmas data breach. ISS targeted those members who serve on the company’s audit and corporate responsibility committee.
Valeant raises cash-stock offer for Allergan
Valeant Pharmaceuticals has pumped more cash into its bid for Botox maker Allergan on Wednesday, a day after its reluctant acquisition target aired more concerns about a deal. The Canadian drugmaker said it will now offer $58.30 and a portion of its stock for each Allergan share. The revised bid could be worth more than $50 billion.
From staff and wire reports