SYNIVERSE TALKS OF IPO: Syniverse Holdings Inc., the parent of Syniverse Technologies of Tampa, said Wednesday that it expects to price its upcoming initial public offering at $20 to $22 a share. In an amended registration statement, the Tampa telecommunications services company said it plans to sell about 17.6-million shares of common stock in the IPO to raise up to $445.8-million. The IPO's underwriters, who are being led by Lehman Brothers, Goldman Sachs and Bear Stearns, will be granted a 30-day option to buy up to 2.6-million additional shares of common stock.
TECO COMPLETES SALE OF UNIT: TECO Energy Inc. said it has completed the sale of its BCH Mechanical Inc. subsidiary to BCH executive Daryl Blume and business partner Dan Allen, a former vice president at Chicago mechanical contractor Phillips Getschow Co. Blume, a former BCH vice president, is now president of the Largo company. TECO and BCH did not disclose the terms of the deal. BCH was founded by Blume's brother Stephen Blume in 1976 and was acquired by TECO in September 2000. BCH has about 500 employees and provides air conditioning, plumbing, piping and sheet metal and engineering services.
OTC LINE BEING SOLD: Bristol-Myers Squibb Co., the pharmaceutical giant, announced Wednesday that is putting up for sale its U.S. and Canadian consumer over-the-counter drug line, which includes pain relievers Excedrin and Bufferin, cold medicine Comtrex and Keri lotions. The company plans to retain its consumer medicines business in other parts of the world including Japan and Europe because it remains an important part of its pharmaceutical business in such regions. Bristol-Myers said that sales of its consumer medicines in the United States and Canada totaled about $240-million in 2003.
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