MERGERS AND ACQUISITIONSEcolab Inc., St. Paul, has closed on its previously announced purchase of the assets of the Cleantec business of Campbell Brothers Ltd., Brisbane, Australia. Cleantec is a developer, manufacturer and marketer of cleaning and hygiene products principally within the Australian food- and beverage-processing, food service, hospitality and textile-care markets. Sales of the business are about $55 million. No other details were announced.
3M Co., Maplewood, has completed its acquisition of Cogent Inc., pursuant to a merger agreement approved and adopted by Cogent's stockholders at a special meeting Dec. 1. Under the terms of the merger, Cogent's stockholders are entitled to receive $10.50 per share in cash. Cogent is now a wholly owned subsidiary of 3M and will be known as 3M Cogent Inc.
The Dolan Co., Minneapolis, acquired DataStream Content Solutions, a provider of federal legislative and regulatory data and advanced content management systems to information businesses, publishers and governments.
PERSONNELHope for the City, Minnetonka, named Patti Dalen Leisinger as its new executive director. Leisinger was most recently vice president of development for Regions Hospital and executive director of the Regions Hospital Foundation. Hope for the City collects corporate surplus and distributes it to nonprofit organizations serving people in need.
DEBT AND EQUITIESThe Toro Co., Bloomington, declared a regular quarterly cash dividend of 20 cents per share, an increase from 18 cents per share, payable Jan. 11 to shareholders of record Dec. 17. The board also authorized repurchase of 3 million shares of common stock, in addition to the 1.3 million shares remaining under the prior authorization.
LEGAL MATTERSA United States District Court judge in Minnesota has found that Pradeep Mohan, a Santa Cruz, Calif., businessman who sells stethoscopes over the Internet, engaged in "purposeful and egregious" infringement of 3M Co.'s trademarks, including 3M's well-known Littmann Master Cardiology, and Cardiology III trademarks. The order prohibits Mohan from using any of the trademarks or designations 3M uses with its Littmann stethoscopes, or any confusingly similar designations. The court also enjoined Mohan from selling ear tips that infringe a 3M patent that was the subject of an earlier order. Finally, the court ordered Mohan to pay 3M's costs and attorneys' fees.
