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SurModics Appoints 2 New Directors, Ends Dispute

Two board candidates nominated by shareholder Ramius, LLC, will join the company's board immediately, and two current board members will vacate their seats in February-an arrangement that Ramius sought in order to address SurModics' "long-term underperformance."

3M Buys Engineered Materials Manufacturer

Nida-Core is the latest in a long series of recent acquisitions for 3M. The company closed 11 deals in 2010, and two remaining transactions-for the purchase of Alpha Beta and Winterthur-are expected to close in the first quarter of 2011.

Michael Foods to Expand in Gaylord

The company has entered into an agreement with the city to purchase a 31,460-square-foot building and two vacant lots in an industrial complex where it currently owns three other buildings.

Granite City to Get New Majority Owner

Concept Development Partners, LLC, will purchase $9 million of Granite City's newly issued convertible preferred stock and arrange for $10 million in debt financing, which will allow Granite City to buy back 3 million shares of outstanding common stock from its majority shareholder.