MERGERS AND ACQUISITIONS
Techne Corp., Minneapolis, has finalized its previously announced acquisition of Bionostics Holdings Ltd. and its operating subsidiary Bionostics Inc. for about $104 million in cash, subject to adjustments after closing based on the final level of working capital. Bionostics makes control solutions that verify the proper operation of in vitro diagnostic devices primarily used in point-of-care blood glucose and blood gas testing.
DEBT AND EQUITIES
TCF Financial Corp., Wayzata, declared a quarterly cash dividend of 5 cents per common share, payable Aug. 30 to stockholders of record on Aug. 15. As of June 30, there were 164.4 million common shares outstanding listed on the New York Stock Exchange.
PERSONNEL
St. Jude Medical Inc., Little Canada, has appointed Stefan Widensohler, proprietor, chief executive and president of the Krauth Medical Group, to its board of directors.
Regulatory
Xcel Energy Inc., Minneapolis, said it will appeal to the Eighth U.S. Circuit Court of Appeals a ruling by a Minnesota federal judge denying the utility permission to intervene in an environmental lawsuit over two of the utility's Sherco coal-burning power plants in Becker, Minn. The suit by environmental groups alleges that the U.S. Environmental Protection Agency isn't enforcing regulations to curb emissions that contribute to atmospheric haze that reduces visibility in the Voyagers National Park in Minnesota and Isle Royale National Park in Lake Superior.
