Most shareholders of Talecris Biotherapeutics will get a slightly sweeter deal under revised terms of the proposed $4 billion takeover by Grifols of Spain.

The companies altered the terms to settle a lawsuit by Talecris investors, according to a Securities and Exchange Commission filing. Talecris investors, including its more than 2,000 local workers, now will receive $19 in cash and 0.6485 of a Grifols share for each Talecris share they own.

Talecris board members and Cerberus Partners, the investment firm that owns 49 percent of Talecris, still will get the original terms, $19 in cash and 0.641 of a Grifols share.

The difference isn't much, less than 10 cents based on Grifols' closing price today. But it does mean that investors, who still need to vote on the deal, will have more incentive to approve it.

Shares of Talecris Biotherapeutics fell today after a report that federal antitrust regulators may seek to block the company's $4 billion acquisition by Grifols of Spain.

The Deal Pipeline reported that the Federal Trade Commission is preparing a lawsuit to stop the union, citing an unnamed antitrust lawyer in Washington. The FTC, which blocked a previous buyout of Talecris, is again worried that a takeover would hurt competition in the market for medicines made from blood plasma, and lead to higher prices for patients, according to the report.

The Deal Pipeline is an information service that tracks acquisitions for investors and other clients.

An FTC spokesman declined to comment. Both companies said they had no knowledge of FTC plans to oppose the transaction.

The Manhattan financier behind Cerberus Capital is a big fan of guns.

Stephen A. Feinberg, the secretive head of the investment firm, and other Cerberus officials turned a firearms fascination into an investment opportunity when they bought several gun companies and formed Freedom Group, Bloomberg BusinessWeek reports.

Freedom Group of Madison, N.C., is the largest gun and ammo maker in the U.S., controlling iconic brands such as Bushmaster, Remington and Marlin. Last fall, the company filed to raise as much as $200 million in an initial public offering. That deal has been on hold as the stock market remains volatile.

It isn't clear whether Feinberg, who likes to hunt pheasant, will be able to make the Freedom Group IPO pay off, Bloomberg reports. What looked like a great strategy with gun sales rising looks less promising now that fears of new gun control efforts have subsided.

Cerberus is also one of the two investment firms that bought Bayer's blood-plasma business in 2005 to form Talecris Biotherapeutics. The Research Triangle Park company held its own IPO last fall and in June agreed to be acquired by Grifols of Spain for $4 billion.

Read the full Bloomberg story here.

Talecris Biotherapeutics, the Triangle's largest biotechnology company, reported stronger first-quarter financial results this afternoon.

In addition, the Research Triangle Park company reaffirmed its previous financial projections for 2010. Talecris' shares have fallen sharply in the past week after one of its top rivals, Baxter International, cut its forecast for this year because of higher costs related to the federal health-care overhaul.

Talecris' drugs, produced from blood plasma by more than 1,500 people at a massive Clayton factory, are used to treat various genetic and chronic illnesses. Its biggest product is Gamunex, which is used to treat a type of immune deficiency and other diseases.

Higher sales of Gamunex during the first quarter offset lower prices paid by the Medicaid system as a result of the new health reform law. The company continues to expand its sales and marketing efforts, said CEO Lawrence Stern, in a prepared statement.

"As a result of those efforts, we are on track to deliver our growth targets for the full year 2010," he said.

Talecris Biotherapeutics, the Triangle's largest biotechnology company, reported weaker financial results for the fourth quarter.

Late Tuesday, the Research Triangle Park company reported that revenue for the quarter was $390.1 million, down 2.8 percent from the same period a year earlier.

Net income after excluding a one-time charge was 22 cents per share. That was down from 28 cents per share a year earlier and less than Wall Street analysts were expecting. Expenses rose, including higher costs to market its medicines made from blood plasma.

Government and corporate officials like to keep tight control of when they release news about economic development and new jobs. That's at least partly so they can make a show of it and take turns congratulating each other and themselves.

This morning's press conference in downtown Clayton about Talecris Biotherapeutics' planned expansion was a perfect example.

Clayton Mayor Jody McLeod, who introduced Gov. Bev Perdue, noted that it's Friday the 13th. But it was "a lucky day" for Clayton, he said.

Rep. Bob Etheridge was there too. He said the deal is a good example of government working well with the private sector. "It'll send a positive message across this state and across America that it's good to invest in Johnston County and in Clayton," he said.

Talecris CEO Lawrence Stern called N.C. the "jewel of the south."

Stern said after the company's recent IPO, Perdue called the company and asked what she could do to support its growth.

Perdue said Talecris told her about the expansion two weeks ago. "We were willing to invest to keep them here," she said.

Talecris Biotherapeutics plans to add 259 jobs over the next seven years as part of a $268.7 million expansion of its Clayton drug-manufacturing plant.

To convince the Research Triangle Park company, which recently raised about $1.7 billion on Wall Street, to expand in this region, state and local officials promised a package of tax breaks and other financial aid that could be worth nearly $20 million.

The practice of using such incentives to lure jobs is drawing increasing criticism, especially with the recent news that Dell plans to shut its factory in Winston-Salem, a project subsidized by a record assistance package.

Government officials say they need to use incentives because North Carolina must attract and keep solid employers to bolster its ailing economy.

"The goal is pretty simple: jobs, jobs and more jobs," Gov. Bev Perdue said at a news conference this morning in downtown Clayton.

An expanding biotech company a bright spot for North Carolina in a bad economy and the incentives are important "so that some other state doesn't lure Talecris away," she added.

Talecris' new jobs will pay average annual salaries of $51,066, state officials said. That's above the Johnston County average of $33,800.

Shares of Talecris Biotherapeutics, which began trading publicly last month, surged this morning after the company reported higher third-quarter profit and sales of its medicine made from blood plasma.

On Monday afternoon, Talecris reported revenue of $395.7 million for the period ended Sept. 30, up about 13 percent from a year earlier.

Profit rose to $35.8 million, or 38 cents a share, from $20.6 million, or 22 cents a share.

It was Talecris' first earnings report since the Research Triangle Park company raised $1.1 billion in its initial public offering, one of the largest and most successful IPOs on Wall Street this year. The shares began trading publicly at $19 on Oct. 1.

The money raised was used mostly to repay debt. But the IPO and a $600 million debt refinancing also allowed the company to improve its balance sheet and plan future expansion.

Company officials have said they'll consider adding capacity at Talecris' Clayton factory, which employs about 1,500 people, but also are looking at other sites.

"We are now very well positioned to invest in our business," CEO Lawrence Stern said on a conference call with Wall Street analysts.

Talecris Biotherapeutics, which began trading publicly last month, reported higher third-quarter profit as the company sold more medicine made from blood plasma.

The Research Triangle Park-based company this afternoon reported revenue of $395.7 million for the period ended Sept. 30, up about 13 percent from a year earlier. Profit rose to $35.8 million.

It was Talecris' first earnings report since the company raised $950 million in its initial public offering, one of the largest and most successful IPOs on Wall Street this year. The shares began trading publicly at $19 on Oct. 1. On Monday, the stock rose 33 cents to close at $20.76.

The money raised was used mostly to repay debt. But the IPO and a $600 million debt refinancing also allowed the company to improve its balance sheet and plan future expansion.

Company officials have said they'll consider adding capacity at Talecris' Clayton factory, which employs about 1,500 people, but also are looking at other sites.

More than 600 employees with Talecris Biotherapeutics spent Friday and today volunteering at 26 nonprofit agencies, mostly across Johnston County.

The "Talecris Cares" event is timed to happen as the company's massive drug-manufacturing plant in Clayton halts production for maintenance and upgrades. About 1,500 workers at the factory make medicines from blood plasma.

The plant will be shut down for 4 to 6 weeks, and employees will spend much of that time doing training. The volunteer effort originated out of the company's interest in using part of the factory's down time about every 18 months to give back to the community.

This year, workers volunteered at the Boys and Girls Club, Boy Scouts, Girl Scouts, Johnston County Animal Shelter and Howell Woods environmental learning center in Four Oaks. A group of workers also visited Ft. Bragg to volunteer at two elementary schools on the base and help prepare barracks for the return of 240 soldiers from Iraq.

The company will spend $20 million to maintain and upgrade its Clayton plant during the next few weeks.