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NORWALK, Conn. — Health care data company IMS Health Inc. said Thursday it is being bought by investment funds TPG Capital and CPP Investment Board for $4 billion, in a move to help the company restructure its business amid the shifting health care arena and sluggish economy. IMS shareholders are getting $22 per share under the deal, marking a 31 percent premium to the stock’s closing price of $16.81 Wednesday. Shares were up nearly 24 percent in afternoon trading, having earlier set a new 52-week high of $21.09 on the news. The leveraged buyout deal is valued at $5.2 billion including assumed debt, according to IMS.

FORT LAUDERDALE, Fla. — Federal agents have searched the law office of a high-profile South Florida attorney suspected in a massive fraud scheme. A spokesman for law firm Rothstein Rosenfeldt Adler says firm officials cooperated with FBI and Internal Revenue Service agents during the Thursday morning search. The investigation focuses on 47-year-old attorney Scott Rothstein, who is suspected of misappropriating millions through investments in legal settlements that could have been faked. Attorneys representing investors say they may have lost more than $100 million. No charges have been filed against Rothstein. His lawyer declined comment. Rothstein has raised money for many politicians, including former President George W. Bush.

WASHINGTON — Fannie Mae is asking for an additional $15 billion in government aid after posting another big loss in the third quarter as the taxpayer bill from the housing market bust keeps rising. The government-controlled company continued to see a dramatic surge of borrowers fall behind as the unemployment rate climbs. At the end of last month, about 4.7 percent of Fannie Mae’s borrowers had missed at least three payments. That’s nearly triple last year’s level. Seized by federal regulators 14 months ago, the problems at Fannie Mae and sibling company Freddie Mac have proven far worse than most experts had foreseen. Fannie Mae’s request Thursday will bring the tab for rescuing both companies to about $111 billion. The government promised up to $400 billion in help.

CHARLOTTE, N.C. — Bank of America Corp. on Thursday reiterated that the current credit environment will remain difficult into next year, as unemployment is likely to continue to rise. Brian Moynihan, head of the bank’s consumer and small business banking units, told investors at the BancAnalysts Association of Boston Conference that Bank of America is starting to see some stabilization in the credit card business, but challenges remain.

NEW YORK — Citigroup Inc. filed plans for an initial public offering of its Primerica Inc. life insurance unit late Thursday, and said it will sell the rest of the unit after it goes public. Divesting Primerica is part of Citi’s effort to simplify its operations and raise cash. The bank, one of the hardest hit during the credit crisis and recession, has reported huge losses in the past two years as its investments and consumer loans and credit cards soured. Citi will sell all the Primerica shares being offered in the IPO, and receive all proceeds from the stock sale.

BIRMINGHAM, Ala. — A federal court has ruled that Tyson Foods Inc. violated federal labor standards for not paying production line employees for the time it takes them to put on and remove protective and sanitary gear. The company was ordered to pay $250,000 in damages, according to the ruling Wednesday in U.S. District Court for the Northern District of Alabama. The U.S. Department of Labor, which originally filed the suit seeking $5.8 million in back wages, made the announcement Thursday.

COLUMBUS, Ohio — Private air service NetJets Inc., unit of Warren Buffett’s Berkshire Hathaway Inc, says it will lay off up to 495 pilots nationwide because of a drop in demand. The decision announced Thursday was based on a review of current and projected flight demand, said David Sokol, CEO of NetJets, which caters to companies and business executives. The layoffs will take effect Jan. 15. NetJets employs more than 3,000 pilots worldwide, with most of them in the U.S. It is headquartered in Columbus, Ohio, and also has operations in New Jersey and South Carolina.

From wire reports

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