MERGERS AND ACQUISItiONS
3M Co., Maplewood, has completed the sale of the assets of its Pressurized Polyurethane Foam Adhesives business (formerly known as Polyfoam) to Innovative Chemical Products Group, a portfolio company of Audax Private Equity. The business was part of 3M's Industrial Adhesives and Tapes Division, which will continue to focus on its core adhesives, sealants and tapes businesses.
Urologix Inc., Plymouth, announced that all of its assets and its Urologix name were surrendered to a secure creditor. The company changed its name to 21st North Inc. and will dissolve.
Gevo Inc., Englewood, Colo., a producer of a high-value alcohol called isobutanol from corn at its Luverne, Minn., plant, said it has licensed its technology to Porta Hnos, an alcohols company in Argentina. The first production there is expected in 2017.
3M Co., Maplewood, has elected Gregory Page, executive director of Minnetonka-based Cargill Inc., and Patricia Woertz, retired chief executive and chairwoman of the board of Archer-Daniels-Midland Co., to its board of directors.
Patterson Companies Inc., Mendota Heights, said that Kelly Baker has joined the company as chief human resource officer. Baker previously was vice president of human resources for the U.S. retail operating segment of General Mills Inc., Golden Valley.
Northern Oil and Gas Inc., Wayzata, announced that it is separating the positions of chairman of the board and chief executive. Independent director Richard Weber was appointed chairman. Michael Reger, who had been chairman and CEO, will remain CEO.
Otter Tail Corp., Fergus Falls, declared a quarterly dividend of 31.25 cents per share payable on March 10, to shareholders of record on Feb. 12.
Bio-Techne Corp., Minneapolis, declared a dividend of 32 cents per share, payable Feb. 26 to shareholders of record on Feb. 12.