Company news
Published Feb 11, 2002
• Standard & Poor's revised its outlook on Minnetonka-based Metris Companies Inc. to negative from stable. The single-B-plus counterparty credit and senior debt ratings are affirmed.
• General Mills Inc., Golden Valley, said it intends to offer about $2 billion in debt securities. Proceeds will be used to repay short-term debt incurred for General Mills' recent acquisition of Pillsbury. Barclays Capital, Deutsche Bank Alex. Brown and Salomon Smith Barney have been selected to serve as joint lead managers for the offering.
• Allete Inc., Duluth, said it intends to merge its telecommunications business, MP Telecom, and its network services business, Enventis. The combined operation will be known as Enventis Telecom and will have offices in Minneapolis, Duluth and Rochester.
• Sterion Inc., Ham Lake, formerly known as Oxboro Medical, has completed the acquisition of substantially all the assets of Mendota Heights-based Bellingham Medical Inc. Terms of the cash transaction were not disclosed. Bellingham Medical makes a variety of sterile single-use wound closure products.
• Uni-Systems Inc., Robbinsdale, has opened a Dallas office to serve American Airlines and to develop new business in the Dallas-Fort Worth area. The company designs and makes systems that move large structures.
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