IN BRIEF

Ameristar finishes due-diligence on deal

Ameristar Casinos announced Monday it completed its due diligence relating to its acquisition of Resorts East Chicago. The company announced plans to acquire the Indiana casino on April 3 for $675 million.

“With this acquisition, we will add a well-positioned, cash-flow producing property, which we can enhance, expand and substantially grow, Ameristar President John Boushy said.

Resorts East Chicago is approximately 25 miles from downtown Chicago and is easily accessible from the entire Chicago metropolitan area.

Resorts East Chicago currently features a 53,000-square-foot casino and 291-room hotel. The casino has 1,900 slot machines, 60 table games and 16 poker tables.

Ameristar shares fell 38 cents, or 1.19 percent, Monday to close at $31.45 on the Nasdaq National Market.

NASHVILLE, Tenn.

Genesco says ‘no’ to $1.2 billion buyout bid

Genesco rejected Foot Locker’s $1.2 billion takeover offer on Monday, but Foot Locker isn’t ruling out the possibility of raising its bid for its footwear and accessories rival.

Foot Locker had proposed paying $46 a share for Genesco in a deal that would have united its Foot Locker, Footaction, Lady Foot Locker, Kids Foot Locker, Champs Sports and Footquarters chains with Genesco’s Journeys, Lids, Hat World and Underground Station brands.

After consulting with financial adviser Goldman, Sachs & Co. and legal adviser Bass, Berry & Sims PLC, Nashville-based Genesco said in a letter to Foot Locker that the offer undervalued the company and that previous discussions about a buyout had mentioned prices between $48 and $50 per share.

A Foot Locker spokesman wouldn’t comment on Genesco’s decision.

CHARLOTTE, N.C.

Bank of America will buy LaSalle Bank Corp.

A year after making a successful $34.2 billion move into credit cards, Bank of America Corp. found yet another multibillion opportunity to grab more customers.

The Charlotte-based bank said Monday it will purchase LaSalle Bank Corp. from ABN Amro North America Holding Co. for $21 billion in cash.

The deal, initially announced by ABN Amro Monday when the Dutch bank agreed to sell itself to Barclays for nearly $91.2 billion, fills a big hole in the bank’s nationwide branch network by making it Chicago’s largest bank.

The net cost to Bank of America will be $16 billion after a return of $5 billion in excess capital.

Bank of America shares fell 53 cents, or 1.04 percent, Monday to close at $50.51 on the New York Stock Exchange.

SAN JOSE, Calif.

Regulators to charge former Apple counsel

Securities regulators plan to file civil fraud charges this week against Apple’s former general counsel over her alleged role in the company’s stock options backdating scandal, a defense attorney said Monday.

Cris Arguedas, a lawyer for Nancy Heinen, said the Securities and Exchange Commission has informed attorneys in the case that it plans to file a lawsuit against Heinen alleging fraud in connection with two options grants. One involved a grant to Apple Chief Executive Steve Jobs on Oct. 19, 2001, for 7.5 million shares and another involved a grant made to top executives, including Heinen herself, on Jan. 17, 2001.

MGM Mirage chief’s ’06 pay $9.7 million

Casino giant MGM Mirage chief executive Terry Lanni received compensation valued at $9.7 million in 2006, a year in which the company’s stock price rose 36 percent, an analysis of a regulatory filing Monday shows.

Lanni received $2 million in salary, $6.6 million in nonequity incentive plan compensation and $1.1 million in other compensation in the form of personal use of company aircraft, matching money for retirement plans and insurance premiums, the document filed Monday with the Securities and Exchange Commission shows.

He also exercised options on shares awarded in previous years worth $14.1 million and had stock options vest worth $6.3 million, the document said.

MGM Mirage shares fell 70 cents, or 0.98 percent, Monday to close at $70.46 on the New York Stock Exchange.

WASHINGTON

Interest rates decline in Treasury auction

Interest rates on short-term Treasury bills fell in Monday’s auction with six-month bills dropping to the lowest level in six months.

The Treasury Department auctioned $13 billion in three-month bills at a discount rate of 4.835 percent, down from 4.865 percent last week. Another $12 billion in six-month bills was auctioned at a discount rate of 4.835 percent, down from 4.865 percent last week. The rates on both the three-month and six-month bills for this week and last week were the same.

NEW YORK

Bond prices increase ahead of reports

U.S. Treasury prices ended higher Monday after session as investors positioned for the week’s coming lineup of economic indicators, most of which are expected to come in on the weak side.

At 5 p.m. EDT, the 10-year Treasury note was up $2.19 per $1,000 in face value, or 0.22 points, from its level at 5 p.m. Friday. Its yield, which moves in the opposite direction, fell to 4.65 percent from 4.67 percent.

The 30-year bond rose 0.34 points. Its yield fell to 4.83 percent from 4.85 percent.