NEW BUSINESS
Tiger Group's Remarketing Services division is conducting a Sealed Bid Offering of assets of St. Paul-based traffic safety and control equipment manufacturer Addco LLC, whose product lines included permanent dynamic message signs and portable changeable message signs built for Intelligent Transportation System and traffic control. The assets will be sold off in groups of 10 lots through a U.S. Bankruptcy Court-ordered sealed bid sale, with all bids due by 3 p.m. Twin Ctiies time March 21. Lots offered in the sealed bid lot catalog range from all assets to machinery and equipment; specific product lines; all of the company's inventory, including raw materials, components, finished goods and demo units; intellectual property; and various vehicles. Addco filed for voluntary Chapter 7 bankruptcy on Jan. 11 in the U.S. Bankruptcy Court for the District of Delaware. Tiger is conducting the sale on behalf of Chapter 7 Bankruptcy Trustee George Miller. A preview of the assets being sold is being conducted by appointment at the 60-year-old company's 80,000-square-foot manufacturing facility, 240 Arlington Av. E., St. Paul.
DEBT AND EQUITIES
U.S. Bancorp, Minneapolis, declared a quarterly dividend of 19.5 cents per common share, payable April 15 to shareholders of record March 28. Additionally, the board of directors of U.S. Bancorp has approved a one-year authorization to repurchase up to $2.25 billion of its outstanding stock, beginning on April 1, to replace the current authorization, which expires March 31.
Toro Co., Bloomington, declared a regular quarterly cash dividend of 14 cents per share, payable April 15 to shareholders of record March 28.
Target Corp., Minneapolis, declared a quarterly dividend of 36 cents per common share, payable June 10 to shareholders of record May 15.
