Green lights for Diebold deal
Diebold Inc. continues to get antitrust approval for its $1.8 billion purchase of Germany-based ATM maker Wincor Nixdorf AG that will create the world’s largest ATM manufacturer and financial services software company.
Green-based Diebold on Tuesday said it recently cleared antitrust requirements in Portugal, Russia, Slovakia and Spain.
Diebold earlier obtained antitrust clearance in the United States, China, Turkey and Austria.
The takeover offer still needs antitrust approval in other countries. The acquisition is expected to close this summer. Diebold will then change its name to Diebold Nixdorf.
Region’s home prices dip
Home prices in the greater Cleveland area dipped slightly in March, the latest Case-Schiller Home Price Indices show.
Cleveland area prices fell 0.1 percent in March from February, according to seasonally adjusted figures released Tuesday. The unadjusted Cleveland prices were up 0.1 percent. The comparable seasonally adjusted national home price index rose 0.1 percent.
Cleveland-area home prices are up 2.8 percent from a year ago, placing the Northeast Ohio metro region with three other cities — New York, Chicago and Washington, D.C. — for the smallest year-over-year price gains. All four cities had rising jobless rates from March 2015 to March 2016.
Cleveland’s March index level of 111.05 was its second highest since January 2008, down just slightly from 111.19 in February.
Staples CEO to step down
Staples Inc. says Ron Sargent will step down as chief executive after 14 years on the job.
His departure follows Staples and rival Office Depot dropping their $6.3 billion merger earlier this month after antitrust regulators opposed it.
Staples director Robert Sulentic said in a statement that the board and Sargent agreed that it was time for new management to help Staples grow after the deal’s collapse.
Sargent will step down as CEO after the company’s annual shareholder meeting June 14 but will remain a director and non-executive chairman through the end of January.
The Framingham, Mass.-based office supplies retailer said Tuesday that Staples executive Shira Goodman, the president of operations in North America, will become interim CEO.
Consumer confidence falls
U.S. consumer confidence fell for a second month in May to the lowest level since November.
The Conference Board said Tuesday that its index of consumer confidence slipped to 92.6 last month from 94.7 in April. The May reading matched the level in November. Both months were the lowest since last July.
Conference Board economists say that consumers remain cautious about the outlook for business and job market conditions, and anticipate little change in the months ahead.
The reading from the Conference Board stands in contrast to the University of Michigan’s consumer sentiment gauge, which rose in May to its highest reading in nearly a year.
Kansas, Missouri rivals to join
Great Plains Energy is buying rival Westar for about $8.6 billion, creating one large power provider in Kansas and Missouri with more than 1.5 million customers in.
The two companies say the combination will lower their costs and help reduce rate increases for customers.
Great Plains Energy owns Kansas City Power & Light, which provides power in Kansas and Missouri. Westar’s customers are in Kansas.
Kansas City, Mo.-based Great Plains Energy is offering $60 in cash and stock for each share of Westar, which is based in Topeka, Kan.
The companies value the deal at about $12.2 billion, when debt is included.
Compiled from staff and reports.