new business Minnetronix, St. Paul, has an exclusive licensing agreement for Penn State Research Foundation's wireless energy transmission technology to assist devices in the treatment of congestive heart failure. Wireless energy transmission technology enables therapies for congestive heart failure, such as left ventricular assist devices.

Carlson Rezidor Hotel Group, Minnetonka, and Magellan Development Group, Chicago, have entered into a strategic partnership with Seldar Holdings, the North American investment and business development arm of Al Rayyan Tourism and Investment. This partnership will own the Radisson Blu Aqua Hotel, Chicago, which opened on Nov. 1. Carlson Rezidor Hotel Group will retain the long-term management contract for the hotel.

Conferma, a Manchester, England-based travel and expense settlement and reconciliation technology provider, and U.S. Bank have announced a global partnership agreement that lets U.S. Bank offer its corporate customers an alternative to manual billing and reconciliation of certain travel expenses, extending the benefits of electronic payment to situations where placing transactions on individual travel cards may not be desired.

PERFORMANCE General Mills Inc., Golden Valley, has reaffirmed its sales and earnings targets for the current fiscal year ending May 27. The company reiterated fiscal 2012 earnings per share guidance of $2.53 to $2.55 excluding mark-to-market effects and integration costs related to the acquisition of a controlling interest in Yoplait SAS.

DEBT AND EQUITIES Northern Oil and Gas Inc., Wayzata, has upsized and priced its private offering to eligible purchasers of 8 percent senior notes due in 2020 at an offering price equal to 100 percent of par. The offering of the notes has been raised, from $250 million to the current $300 million aggregate principal amount. Northern Oil intends to use net proceeds of about $291.3 million, after deducting initial purchasers' discounts and offering expenses, to repay borrowings outstanding under its revolving credit facility, to fund capital expenditures, and for other general corporate purposes. The offering is expected to close on May 18, subject to the satisfaction of customary closing conditions.

Toro Co., Bloomington, declared a regular quarterly cash dividend of 22 cents per share, payable June 18 to shareholders of record on June 4.