Company news

MERGERS AND ACQUISITIONSJonaco Machine, Chaska, a precision machining supplier and a portfolio company of Denali Partners LLC, Minneapolis, announced it will be acquired by Demmer Investments III Inc., an entity of Demmer Corp., Lansing, Mich. Terms of the deal were not disclosed

Medtronic Inc., Fridley, completed the $123 million acquisition of Osteotech Inc., a New Jersey-based maker of biologic products used largely in spine surgery. The agreement calls for Medtronic to pay $6.50 in cash for each share of Osteotech stock. Medtronic sees the deal as a way of expanding its presence in the regenerative biologics field.

PERFORMANCEChristopher & Banks Corp., Plymouth, said it expects to report a net loss from operations for the third quarter ending Nov. 27 and also intends to report a one-time non-cash charge resulting from recording a $13 million valuation allowance related to its deferred tax assets. In addition, based upon its current outlook, the company intends to reverse about $2.9 million, or 8 cents per share, of income tax expense previously accrued through the second fiscal quarter.

PERSONNELFMH Corp., Fridley, has named Nick Thomey as president. FMH provides mechanical design, engineering and manufacturing of electronic control systems. Thomey most recently spent 16 years at ObjectFX Corp., Minneapolis.

DEBT AND EQUITIESValueVision Media Inc., Eden Prairie, which owns and operates ShopNBC, announced ShopNBC has entered into a $25 million loan with a lending group led by Crystal Financial LLC. The loan has a 5-year maturity, bears a variable interest rate, initially set at 11 percent, and will be used as general working capital. The loan replaces a previous $20 million revolving credit facility.

Fitch Ratings expects to rate Minnesota Office of Higher Education Student Loan Revenue Bonds series 2010 as follows: $ 55 million class A fixed-rate bonds 'AA-'. The outlook is stable.