BUSINESSSFlbdigest

Ram pickup recall

Fiat Chrysler is recalling nearly 343,000 Ram pickup trucks due to problems with the vehicles’ airbags. The recall warns that trucks included in the recall may have airbags that do not inflate during a crash.

Concierge service

YOUNGSTOWN

Kadi Concierge is announcing its grand opening with a ribbon-cutting event beginning at 10 a.m. Saturday at 237 E. Front Street in downtown Youngstown.

The company offers food delivery, errand and grocery shopping with delivery and courier services, as well as Bentley private cars, private jets, private yachts and other luxury services.

Federal contract

NORTH LIMA

Industrial Shredders Ltd., 12037 South Ave., won a $113,000 federal contract from the U.S. Army Contracting Command for the manufacture of a panel chop saw for Sierra Army Depot in California.

Bookseller sold

NEW YORK

The one-time bookselling giant Barnes & Noble is being acquired by a hedge fund for $476 million.

The national chain many blamed for the demise of independent bookstores has been ravaged by Amazon.com and other online sellers.

The company said in October it might put itself up for sale after it was approached by a number of potential buyers, including founder Leonard Riggio who opened Barnes & Noble stores across the country and turned them into superstores.

Barnes & Noble said Friday it’s being acquired by Elliott Management for $6.50 per share, an approximately 9 percent premium to the company’s Thursday closing stock price. Elliott bought the U.K. bookseller Waterstones in June 2018. Waterstones CEO James Daunt will take on the role of CEO at Barnes & Noble.

The sale, valued at about $683 million including debt, is targeted to close in the third quarter if approved by regulators and shareholders.

Shares of the New York company jumped 11 percent before the opening bell.

Staff/wire reports