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'Go shop' period stymies sale of Skullcandy to Incipio

The sale of audio and gaming company Skullcandy to a southern California firm apparently isn't a done deal.

Park City-based Skullcandy said Friday it had been sold for $177 million to Incipio, which focuses on consumer technology such as Skullcandy's headphones.

But on Monday, Skullcandy said the merger agreement with Incipio included a "go shop" period through July 23 in which Skullcandy's board could actively solicit alternative takeover offers.

One already has come in, Skullcandy CEO Hoby Darling said, citing an "unsolicited proposal from Mill Road Capital, a private investment firm with offices in San Francisco and Greenwich, Conn. that invests in publicly traded micro-cap companies in the U.S. and Canada.

Mill Road Capital offered $6.05 per share for Skullcandy stock, compared to $5.75 per share from Incipio. That adds up to about $186 million.

Watercross event at Sand Hollow a boost to region's economy

The southwestern Utah economy took in nearly $300,000 last week from a Pro Watercross racing event at Sand Hollow State Park.

About 125 professional and amateur personal-watercraft racers participated in the June 24-25 Red Desert Championship. This was the second consecutive year the Pro Watercross Tour, now in its 21st year, has stopped at Sand Hollow.

"What a terrific experience this is for both the residents of southern Utah," Kevin Lewis, director of the St. George Sports Commission, which teamed with the Utah Sports Commission to sponsor the event. "You just don't find orange sand and blue water in too many places."

In watercross racing, competitors navigate buoys and obstacles through a course shoulder-to-shoulder at speeds approaching 85 mph, Lewis noted.

Boys & Girls Clubs get $50,000 grant from American Express

The American Express Center for Community Development has given the Boys & Girls Clubs of Greater Salt Lake a $50,000 grant to boost its Academic Success programs, especially those promoting financial literacy.

The literacy initiative, which teaches low-income youth about money management and financial responsibility, is one of three Academic Success tracks the Boys & Girls Clubs employs to reduce high school dropout rates among club members, providing a plan for the future after they graduate.

"Programs like these are especially important for the 7,200 young people served each year" in greater Salt Lake, said LeAnn Saldivar, the group's president and CEO. She noted that 67 percent of club members are from low-income families, 43 percent are from single-parent households and 58 percent are ethnic minorities.

Credit union opens 'Innovation Center'

America First Credit Union has opened an "Innovation Center" at its branch in City Creek Center in downtown Salt Lake City. Besides traditional services, the branch will showcase credit union innovations and seek customer input on how services should be shaped.