New coffee bar, Thomas & Betts merger approved, and misc. bank news
A lot of news to report, so let’s get to it –
1) A new coffee klatch, Qahwa Coffee, has opened in the Claridge House at the corner of Main and Adams.
2) The shareholders of Thomas & Betts Corp. have voted to approve the merger announced earlier this year between the Memphis company and ABB Ltd. for $72 per share in cash. More here.
3) The Memphis law firm Watson Burns PLLC and a firm from Atlanta have filed a suit that seeks class action status against Trustmark National Bank over overdraft fees in Shelby County Circuit Court.
4) One local bank has just completed a major capital raise. I’ll have more details posted soon.
5) A federal appeals court has reversed a lower federal court decision the SEC brought against Morgan Keegan over the sale of auction-rate securities, reopening that case. More here.
