BRIEFCASE SCENIC WILL LEAVE AIRPORT IN MARCH.

Byline: - Staff and wire services

PALMDALE - Palmdale Regional Airport is again facing the prospect of being without an airline after Scenic Airlines filed a notice with the federal government that it intends to pull out in March.

Scenic filed a notice with the U.S. Department of Transportation indicating it will leave the market on March 13. The airline has operated out of Palmdale since Dec. 29, 2004.

The notice of intent did not state a reason for terminating service, however, it has been known for months that the airline was struggling to get passengers. In August, the city bought $20,000 worth of tickets after airline officials told them at that time they were looking to pull out in October if passenger loads didn't increase.

Investors worry over GM shares

DETROIT - General Motors Corp. shares, which have lost more than half their value since the beginning of the year, fell an additional 4 percent Wednesday as investors fretted about Los Angeles billionaire Kirk Kerkorian's decision to sell part of his stake in the automaker.

GM shares fell 80 cents to $19.05 Wednesday on the New York Stock Exchange. That is their lowest level since 1982, according to Standard and Poor's equity market analyst Howard Silverblatt.

UnitedHealth gets OK for PacifiCare

MINNEAPOLIS - UnitedHealth Group Inc. has received final regulatory approval for its $9.2 billion purchase of PacifiCare Health Systems, the health insurer said Wednesday.

UnitedHealth agreed to divest parts of PacifiCare's commercial health insurance business in Tucson, Ariz., and Boulder, Colo., to satisfy antitrust regulator concerns, the Justice Department said.

Allergan, Inamed OK purchase deal

Allergan Inc., which makes the anti-wrinkle drug Botox, has entered into a definitive agreement to purchase cosmetic surgery product maker Inamed Corp. in a cash and stock deal valued at $3.2 billion.

The deal creates a company with combined revenues of $940 million that sells everything from cosmetic drugs to breast implants.

The agreement was expected after Medicis Pharmaceutical Corp., a seller of prescription acne and skin treatments, dropped its rival bid for Inamed last week.

Inamed, which had agreed in March to be bought by Medicis, has already paid its former suitor a $90 million termination fee, plus $481,985 for breaking the deal and agreeing to be bought by Allergan instead.

Irvine-based Allergan and Inamed said late Tuesday that Allergan will pay either $84 in cash or 0.8498 of a share of Allergan common stock for each share of Inamed stock at the election of the holder.

Santa Barbara-based Inamed said it will give back the rights to market Reloxin, a Botox competitor, to Ipsen ltd. in order to avoid problems with the Federal Trade Commission and other regulatory agencies.