Inland to purchase investment trust

OAK BROOK -- Inland Capital Markets Group Inc. said it negotiated a merger agreement on behalf of Inland American Real Estate Trust Inc. to acquire Apple Hospitality Five Inc., a public, nonlisted real estate investment trust focused on the ownership of upscale hotels, for approximately $709 million. The merger is anticipated to close in the fourth quarter. The 28-property, 3,717-room lodging portfolio operates under the Hilton and Marriott brands.

Cabot reports record results

AURORA -- Cabot Microelectronics Corp., a supplier of chemical mechanical planarization polishing slurries, reported total results for its third quarter, ended June 30, at a record $89 million, 15.6 percent higher than the prior quarter's revenue of $77 million. Gross profit for the June quarter was $42.5 million, compared with $33.8 million reported in the prior quarter and $40.4 million in the same quarter a year ago. Year to date, gross profit represents 46.6 percent of revenue.