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.
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.
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.
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. 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.