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Telegram & Gazette

Bloomberg Index

Central Massachusetts

+3.81

174.85

Volume: 58,432,157

Up: 19

Down: 8

Unchanged: 6

Gainer: Waters Corp. $61.58 +$2.45 (volume of 922,600 shares)

Decliner: Valpey-Fisher Corp. $4.78 (volume of 11,800 shares)

Local

Merger pending

WESTBORO - Westborough Financial Services Inc. said it has extended a deadline related to its pending merger with Assabet Valley Bancorp, the parent company of Hudson Savings Bank.

Westborough Financial, operator of The Westborough Bank, and Assabet Valley mutually agreed to extend a merger-termination deadline to Aug. 31, according to a filing with the Securities and Exchange Commission. The original deadline was May 15, which was subsequently extended to Aug. 15.

If the transaction is not completed by the Aug. 31 deadline, those involved can exit the deal. The merger has been slowed by a lawsuit from a minority shareholder. A Superior Court judge Tuesday turned down a request for a preliminary injunction to halt the deal.

Dividend posted

WEBSTER - Property and casualty insurer Commerce Group Inc. has declared a quarterly cash dividend of 30 cents per share, payable Sept. 12 to shareholders of record Aug. 27.

Grants awarded

BOSTON - State officials yesterday announced $800,000 in occupational safety and health grants.

Area companies receiving grants included R.H. White Construction in Auburn, Clariant Corp. in Holden, Rohm & Haas in Marlboro, the DCU Center in Worcester and Worcester Joint Apprenticeship Training Committee in Worcester.

The grants are used to develop and implement workplace safety training.

Building sold

WESTBORO - Richards Barry Joyce & Partners LLC, a Boston commercial real estate advisory firm, reported that it brokered the $13 million sale of 1400 Computer Drive to Morris & Morse Co. Inc.

The 79,123-square-foot, class-A office building was owned by Laborer's Pension/Westborough Investment Corp. of Billerica and was originally developed in 1991 as the Northeast headquarters for General Electric Co.

Richard Herlihy, John Lashar, Richard Bradbury and Paul Leone of RBJ represented the buyer in the sales transaction.

RBJ was also named the exclusive leasing agent for the building by the new owners.

Intel honored

HUDSON - Intel Corp.'s plant in Hudson has received the MassExcellence Achievement in Excellence Award from the Massachusetts Council for Quality Inc.

The award is based on the Malcolm Baldridge National Quality Award. Also honored was Verizon Partner Solutions, which is based in Boston. Intel's headquarters is in Santa Clara, Calif.

The company produces computer chips.
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Title Annotation:BUSINESS
Publication:Telegram & Gazette (Worcester, MA)
Date:Aug 18, 2007
Words:405
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