The acquisition will provide Minnesota Rubber & Plastics with the funding it needs to continue growth abroad and within the medical market.
Banking + Finance
The merger, which is expected to be completed September 28, also received clearance from Chinese regulators.
Vadnais Heights-based H.B. Fuller said that the acquisition will help it to better serve the growing electronics market.
Republic Bank & Trust Company has acquired First Commercial Bank in Bloomington, and its chief executive said that the bank plans to grow its presence in the Twin Cities.
U.S. Bank and the Metropolitan Economic Development Association have launched a series of quarterly events offering business consulting to minority entrepreneurs in the Twin Cities.
After the Department of Justice threatened to sue, 3M Company and Avery Dennison Corporation said that they will address antitrust concerns in order to receive regulatory clearance for 3M’s proposed acquisition of Avery Dennison’s office products unit.
Life Time acquired New Leaf software and support materials, product inventory, trademarks, and websites from MGC Diagnostics.
If the deal is approved, the merged company will have 1,500 physicians and operate under a single board of directors.
Wells Fargo’s NeighborhoodLIFT program will offer down payment assistance of up to $15,000 to qualified homebuyers seeking to purchase a home in Minneapolis or St. Paul.
CEO Joel Waller said that the company’s second-quarter financial results “marked improvement in our business, demonstrating that our strategic initiatives are taking hold.”
The dealerships included in the deal are Carousel Audi and Carousel Porsche, both in Golden Valley; Maplewood Audi; and Maplewood Imports—which sells both Mercedes-Benz and Porsche vehicles.
A new agreement gives Richard Schulze access to Best Buy’s financials and 60 days to present a fully financed buyout offer. If rejected by the board, he can present a second proposal in January—and if rejected again, he can go directly to shareholders.
Richard Schulze has resumed discussions with Best Buy after negotiations fell apart over the weekend; meanwhile, he is also reportedly working on a campaign to oust board directors who are resisting his buyout attempt.
M&A investment banker Jack Helms shares tales of his career—and his love of small business.
Best Buy—which on Monday named a new CEO and whose founder is pursuing a private takeover—reported a steep decline in second-quarter earnings and suspended its full-year forecast.
Best Buy offered to share financial information as requested by founder Richard Schulze—on the condition that he postpone bringing a buyout offer to shareholders—but negotiations appear to have stalled.
In a letter to the company’s board, the Best Buy founder repeated an earlier request for permission to form a group to conduct due diligence and develop a more formal offer; “I am not going away,” he wrote.
Cost Seg Associates, a Minneapolis-based firm devoted exclusively to cost segregation studies, has merged with Eide Bailly.