Company news

Updated: July 29, 2010 - 9:25 PM

0
comments
resize text
print
buy reprints

Tweet
share

email
Email share

your name

your email

recipients email

+ add a comment add a comment

DEBT AND EQUITY

Hutchinson Technology Inc., Hutchinson, Minn., approved a share rights plan that will replace an existing plan when it expires Aug. 10. Under the plan, the board of directors has declared a dividend distribution of one common share purchase right on each outstanding share of common stock of Hutchinson Technology held by shareholders of record on Aug. 10. The rights will expire on Aug. 10, 2020. Each right will entitle shareholders of Hutchinson Technology to buy one-tenth of a share of common stock of the company at an exercise price of $3. The plan was adopted to increase the likelihood Hutchinson shareholders would get fair and equal treatment in the event of a takeover of the company.

NEW BUSINESS

Life Time Fitness Inc., Chanhassen, announced plans to open its first LifePower Yoga studio in Minnesota during August. The location, in Minneapolis' Uptown neighborhood, is Life Time's 25th center in Minnesota. The Uptown studio is dedicated solely to yoga and Pilates.

Medtronic Inc., Fridley, announced the global launch of the Defeat-HF (Determining the Feasibility of Spinal Cord Neuromodulation for the Treatment of Chronic Heart Failure) clinical trial. It is the industry's first prospective, randomized study evaluating the clinical feasibility of spinal cord stimulation, or neurostimulation, to improve clinical signs and symptoms of heart failure.

PERSONNEL

Transit for Livable Communities, St. Paul, named Barb Thoman executive director. Thoman co-founded the transportation advocacy group in 1996 and has been serving as acting executive director since March.