* U.S. Trust Corp.'s West Coast subsidiary has signed an agreement to buy Wood Island Associates, a Larkspur-based money manager with $1 billion in assets under management. Terms of the transaction weren't disclosed.
* Morgan Hill-based Global Motorsport Group Inc., a supplier of custom chrome replacement parts for Harley-Davidson and other motorcycles, said San Francisco-based equity fund Fremont Partners has agreed to buy a 88% stake in it, worth about $195 million, or $21.75 a share, in cash and assumed debt. Fremont Partners said May 22 that it planned to pay $23 each for shares of Global Motorsport, which was under pressure from shareholders to sell. The latest offer is a 5.7% premium to Global Motorsport's May 22 closing price, although it's 5% less than the initial offer. No reason for the lower offer was given by either company. Global Motorsport is the parent of an international group of motorcycle parts makers, including Custom Chrome Inc. Global Motorsport shares were unchanged at $21 on Nasdaq.