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MERGERS AND ACQUISITIONS
3M Co., Maplewood, has completed acquisition of TOP-Service für Lingualtechnik GmbH, an orthodontic technology and services company based in Bad Essen, Germany, offering the Incognito brand system, a digital lingual orthodontic solution. Terms were not disclosed. TOP will produce synergies with Lingualcare Inc., which was acquired by 3M Unitek in 2007 and sells lingual orthodontic solutions under the iBraces brand.
C.H. Robinson Worldwide Inc., Eden Prairie, has acquired certain operating subsidiaries of Transera International Holdings, a project forwarding company headquartered in Calgary, Alberta. Terms were not disclosed. Transera provides North American and international transportation of over-dimensional and heavy lift shipments, and has gross revenue of about $125 million.
NEW BUSINESSAlliant Techsystems, Edina, has received a $7.6 million initial contract from the U.S. Army for the M1028 120mm canister cartridge. The contract also includes four option years that could raise the total value of the contract to more than $30 million if all production options are exercised.
DEBT AND EQUITIESCyberOptics Corp., Golden Valley, announced final results of its modified Dutch auction tender offer, which expired July 29. CyberOptics has accepted for purchase 1.5 million shares of its common stock, or about 18.3 percent of its outstanding shares, at $10 per share. A total of 1,560,490 shares was properly and not conditionally tendered and not withdrawn at a price of $10 or less. All shares tendered and delivered at prices above $10 per share, as well as all shares tendered and delivered at $10 per share and not purchased because of proration or conditional tender, will be returned promptly to shareholders.
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Lights out at U energy conference. Irony police notified.
Just as Lawrence Kazmerski, a top official at the National Renewable Energy Laboratory, was about to give the keynote address at the University of Minnesota's annual E3 conference at the RiverCentre in St. Paul, the lights went out, bathing the audience in darkness and a deep sense of irony.
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