MERGERS AND ACQUISITIONSKensington Energy Corp., Eden Prairie, has entered into a letter of intent to acquire Nature's Prime Organic Foods Inc., a Victoria-based organic foods retail business, in a reverse merger. Terms were not disclosed. The deal is scheduled to close on or before Nov. 30.
Company news
July 28, 2011 at 2:52AM
NEW BUSINESSU.S. Bancorp, Minneapolis, has a deal with Dunbar Armored, a security and cash management products provider, to use its Dunbar Cash Manager Safe product line.
Enventis, a subsidiary of HickoryTech Corp., Mankato, has kicked off its $24 million Greater Minnesota Broadband Collaborative Project to further extend its middle mile fiber-optic network across Minnesota. The 430-mile fiber network to be built over the next two years will improve high-speed Internet access in rural communities and connect health care facilities, schools, libraries, higher education institutions and public offices with high-capacity broadband.
Essar Steel Minnesota has signed a long-term agreement to purchase the electricity it needs to operate a taconite mine, processing plant, and later a steel mill, from the city of Nashwauk, Minn. The city gets its electric power from Minnesota Power, a division of Allete Inc., Duluth.
NEW BUSINESSPinnacle Federal Credit Union, Edison, N.J., has partnered with Elan Financial Services, a unit of U.S. Bancorp, Minneapolis, to provide credit card products and services to its nearly 24,000 members.
debt and equitiesAmeriprise Financial Inc., Minneapolis, declared a quarterly cash dividend of 23 cents per common share, payable Aug. 19 to shareholders of record Aug. 5.
Winmark Corp., Minneapolis, declared a cash dividend of 3 cents per share, playable Sept. 1, to shareholders of record on Aug. 10.
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Two former employees say REI policy has made it easy for thieves to get away.
