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DEBT AND EQUITIES
Otter Tail Corp., Fergus Falls, Minn., began a public offering of 5 million common shares. The company expects to grant the underwriters of the offering an option to buy up to an additional 750,000 shares to cover overallotments. Otter Tail intends to use the proceeds to finance construction of the Ashtabula Wind Center in Barnes County, N.D.; expansion of wind-tower manufacturing facilities in Tulsa, Okla., and West Fargo, N.D., and to fund working capital needs.
Xcel Energy, Minneapolis, closed its previously announced offering of 15 million common shares. The company has granted the underwriters a 30-day option to purchase up to 2.25 million additional shares to cover overallotments. The proceeds are expected to be used to repay commercial paper.
MERGERS AND ACQUISITIONSDairyland Healthcare Solutions, Glenwood, Minn., acquired Advanced Professional Software Inc., Waco, Texas, and changed its company name to Healthland.
U.S. Bancorp, Minneapolis, announced that its lead bank, U.S. Bank, has a definitive agreement with Zions Bank to assume leases of 49 full-service in-store banking locations in retailer Smith's Food & Drug Stores, a division of the Kroger Co. U.S. Bank will add 28 Smith's locations in Nevada and 21 in Utah.
NEW PRODUCTSMedtronic Inc., Fridley, began two new clinical trials of its Endeavor Resolute drug-coated heart stent, which was approved by the Food and Drug Administration in February. The U.S. trial will enroll 1,399 patients who will be followed for up to 5 years at up to 125 sites. The international trial will enroll up to 2,200 patients at 100 centers worldwide.
CodeWeavers, St. Paul, a developer of software products that transform Mac OS X and Linux into Windows-compatible operating systems, has extended the Google Chromium browser launch beyond Windows. CodeWeavers is releasing CrossOver Chromium for Mac and Linux, available now as a free download.
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Blog: Patent Pending
A few thoughts on MinneDemo…
I’m not a tech guy. My colleagues at work seem to think so though, which is why they keep asking me questions about how to turn on their cell phones, download podcasts to iPods, and unfreeze their computers. “Is it because I’m young or Asian?” I always ask. Cue uncomfortable silence. In truth, I wouldn’t know a Twitter [...]
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