business

Inetium and Avtex, two technology firms of Pohlad Family Companies, Minneapolis, plan to merge their operations into a single company, Avtex Solutions, effective Jan. 1.

Digi-Key Corp., Thief River Falls, Minn., an electronic components distributor, will be a worldwide distributor for Austriamicrosystems, an Austrian designer of analog integrated circuits.

Famous Dave's of America Inc., Minnetonka, said that BBQ Restaurants of Hawaii has purchased the right to franchise three Famous Dave's Legendary Pit Bar-B-Que restaurants in Hawaii. The first location is expected to open by the end of 2010.

Alliant Techsystems Inc., Eden Prairie, said that it is in discussions with a group of lenders about refinancing its existing senior credit facilities, consisting of a $500 million revolving credit facility and a $257.8 million term loan. Alliant hopes to replace the existing facilities with a new five-year senior credit facility of up to $1 billion, consisting of a $600 million revolving credit facility and a $400 million term loan. The company also has commenced a public offering of $300 million senior subordinated notes due in 2020. Bank of America Merrill Lynch and RBS are acting as joint book-running managers. Alliant Techsystems intends to use about $280 million of the net proceeds of the offering to fund its redemption of all its outstanding 2.75 percent convertible subordinated notes due in 2024, and any remaining net proceeds for general corporate purposes.

General Mills Inc., Golden Valley, reaffirmed its fiscal 2011 earnings per share forecast of $2.46 to $2.48 for the fiscal year ending May 2011 before any effects of mark-to-market valuation. General Mills also said it expects first-quarter results to be in line with company expectations, which did not call for earnings-per-share growth.