Banking & Finance

The PNC Financial Services Group Inc., the Pittsburgh-based parent company of PNC Bank, which has branches in the Milwaukee market, today reported third quarter net income of $925 million, or $1.64 per share, up from $834 million, or $1.55 per share, for the same period a year ago.

Billionaire investor Carl Icahn announced he plans to make an unsolicited takeover bid to acquire Oshkosh Corp. for almost $3 billion.

BizStarts Milwaukee has received a grant extension for $718,000 from the U.S. Economic Development Administration to help grow start-up companies in the M-7 region.

Wisconsin banks that have received capital from the federal Small Business Lending Fund have increased small business lending by $109.2 million over their baselines, according to the U.S. Department of the Treasury.

The Wisconsin Department of Administration announced Monday it will deposit $108.7 million in the state’s rainy day fund, the largest amount ever allotted to the fund. The deposit will bring the fund balance to $125.4 million.

Sussex-based Quad/Graphics Inc. has signed an agreement to acquire substantially all of the assets of Vertis Holdings Inc., a Baltimore, Md.-based company that has filed for bankruptcy, for $258.5 million.

Billionaire investor Carl Icahn announced today he plans to make an unsolicited takeover bid to acquire Oshkosh Corp. for almost $3 billion.

Milwaukee-based mutual and hedge fund service provider UMB Fund Services Inc. has grown its Investment Managers Series Trust to more than $3 billion in net assets.

Associated Bank has announced three new additions to its leadership team in Milwaukee.

Marcus Hotels & Resorts, a division of Milwaukee-based Marcus Corp., is teaming with Carey Watermark Investors Inc. (CWI) and The Arden Group to acquire the Westin Atlanta Perimeter North in a joint venture.