MERGERS AND ACQUISITIONS
ABRA Auto Body & Glass, Brooklyn Center, has acquired Crash1 Off Alpine Collision Center in Rockford, Ill. The transaction is ABRA's fourth deal in three different states in less than a month. ABRA's repair center portfolio in Illinois has grown to 32 centers, and its nationwide footprint now stands at 266 in 20 states.
U.S. Bancorp, Minneapolis, has hired Shailesh Kotwal as vice chairman, payment services. He will report to Andy Cecere, vice chairman and chief operating officer, U.S. Bank. Kotwal succeeds Pamela Joseph, who is planning to retire midyear.
Debt and equities
TCF Financial Corp., Wayzata, issued $150 million of subordinated notes Friday, due Feb. 27, 2025. Proceeds of the offering will be used for general corporate purposes.
Medtronic PLC, Fridley and Dublin, said that the Irish High Court has approved the company's share premium reduction petition, creating the distributable reserves needed to support share repurchases or redemptions and payment of the cash dividend of 30.5 cents per ordinary share that was previously announced Feb. 13. The dividend is payable April 17 to shareholders of record on March 30. Medtronic expects that for U.S. tax purposes, all or a portion of the distribution may be treated as a return of capital to U.S. shareholders.