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New Dow AgroSciences research facility opens at University of Illinois

Dow AgroSciences LLC announced Monday that it has opened a facility in the Research Park at the University of Illinois at Urbana-Champaign.

Royal Financial's purchase of PNA Bank clears regulatory hurdles

Royal Financial, Inc., parent firm of Royal Savings Bank, said this week that it has secured all regulatory approvals so it can proceed with its acquisition of PNA Bank, which then will merge with Royal Savings Bank.

AAR announces Michael Sharp as new CFO

Michael Sharp will become the new chief financial officer for AAR Corp. and replace John Fortson, who is leaving the company, effective Oct. 5.

Pepco, Exelon file petition with D.C. agency for merger reconsideration

Pepco Holdings and Exelon Corp. filed a petition this week with the Public Service Commission of the District of Columbia (PSC) for reconsideration of their proposed merger. Chris Crane, president and CEO of Exelon, said a settlement agreement is currently being discussed between the companies and the District of Columbia in hopes of resolving the matter.

Unemployment rates drop in Illinois metro areas

For the 18th month in a row, unemployment rates in every metro area in Illinois have fallen in August.

Highland Park awards waste collection, recycling contracts to LRS

Highland Park recently awarded six-year contracts for commercial and residential waste-collection and recycling services to Lakeshore Recycling Systems (LRS), effective Jan. 1, 2016. "We are pleased to announce the selection of Lakeshore Recycling Systems as our commercial and residential recycling and waste-collection partner," Ghida Neukirch, city manager for Highland Park, said.

Monroe Capital LLC boosts consumer-products firm's credit line 78 percent

Monroe Capital LLC recently increased the credit line of a consumer-products company to $125 million from $70 million. The bump in funding allows the consumer company to make two recent acquisitions.

Eastside Distilling spirits approved for sale in Illinois

The Illinois Liquor Control Commission recently approved the sales of the full portfolio of Eastside Distilling, Inc., spirits in Illinois. Eastside's award-winning spirits are now available for sale in 12 states as its national sales rollout gains momentum.

Chicago City Council lifts decades-old ban on food carts

The Chicago City Council lifted a decades-old ban on food carts late last week, freeing thousands of food-cart vendors currently operating from the fear of fines or arrest.

Caterpillar to restructure in effort to lower expenses by up to $1.5 billion annually

Major changes are underway at Caterpillar, Inc., as restructuring and cost-reduction steps are expected to help lower operating expenses by as much as $1.5 billion annually, company officials said recently.

Chicago-based companies purchase Washington Marriott Georgetown Hotel

Chicago-based companies Geller Investment Co. and Wanxiang America Real Estate Group recently acquired the Washington Marriott Georgetown Hotel.

Top executives to meet in Chicago to discuss workforce education

Leaders from two dozen Fortune 500 companies will convene in Chicago next month to discuss ways to improve the adult workforce.

Ridesharing company CabbyGo launches service in Chicago

Ridesharing company CabbyGo launched in Chicago this week and is now available from downtown to the north, south and west sides. Neighborhoods served include River West, Streeterville, Lincoln Park, Bucktown, Wrigleyville, Hyde Park, Bridgeport and Englewood.

CME Group, China Securities Index enter product licensing agreement

An index development and product licensing agreement was signed Monday by the CME Group and China Securities Index Co. Ltd, company officials announced.

First Midwest Bancorp to acquire Peoples' Bank of Arlington Heights

First Midwest Bancorp said this week that it has entered into a definitive agreement to acquire Peoples' Bank of Arlington Heights. “We are very pleased to announce this transaction and look forward to welcoming the customers and employees of Peoples' Bank to First Midwest," Michael Scudder, president and CEO of First Midwest, said.

Chicago store's high-quality lighting inventory to be liquidated

Financial services firm Yellen Partners LLC on Monday announced a liquidation sale of high-quality lighting fixtures and chandeliers for New Metal Crafts Inc., valued at more than $10 million.

Union Partners, Lee Steel complete Michigan asset-purchase deal

Union Partners I LLC said recently that it closed on an asset-purchase agreement on Friday with Lee Steel Corporation, which includes all assets of Lee's Wyoming, Michigan, facility and working capital assets of Lee's Romulus, Michigan facility. “This is a new day for Lee Steel’s employees, customers and vendors, and we look forward to getting back to business,” Chris Hutter, a spokesman for Union Partners, said.

Arthur J. Gallagher & Co. of Itasca acquires North Alabama Insurance

Arthur J. Gallagher & Co. said late last week that it has acquired North Alabama Insurance, Inc. (NAI), in Florence, Alabama. "The NAI team is well-known for their depth of underwriting experience, as well as their strong market relationships," Arthur J. Gallagher & Co. Chairman, President and CEO J. Patrick Gallagher, Jr., said.

Chicago foodservice company buys InterMetro Industries

Chicago-based Ali Group announced Thursday that it has closed on its agreement to acquire InterMetro Industries Corporation and its subsidiaries from St. Louis-based Emerson, for an undisclosed amount.

ConcertoHealth, Inc. to relocate headquarters.

ConcertoHealth, Inc., formerly known as Fidelis SeniorCare, has announced it will be moving its headquarters from Schaumburg to Irvine, California.

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