NEW BUSINESS The U.S. Postal Service has selected U.S. Bank, lead bank of U.S. Bancorp, Minneapolis, to provide purchasing cards and Voyager fleet cards under the new General Services Administration SmartPay2 contract.
BioE Inc., Vadnais Heights, and StemSoft Software Inc., Vancouver, have begun a partnership to provide cord-blood banks with comprehensive cord-blood data management and cord-blood processing. The integrated solution combines BioE's PrepaCyte-CB Cord Blood Processing System with StemSoft's StemLab, cord-blood banking software.
DEBT AND EQUITIES Ciprico Inc., Plymouth, has received a Nasdaq staff determination notice that it is not in compliance with the filing requirements for continued listing. The company has requested a hearing to review the notice before a Nasdaq listing qualifications panel. The hearing request automatically stays suspension of trading of Ciprico's common stock on the Nasdaq Capital Market until the hearing can be scheduled and convened.
Synovis Life Technologies Inc., St. Paul, said its board of directors has approved a program to repurchase up to 1 million shares of common stock. The timing and extent to which the company buys back shares will depend on market conditions and other corporate considerations.
Supervalu Inc., Eden Prairie, said its board of directors declared a quarterly dividend of 17.25 cents per share, an increase from 17 cents per share, payable June 16 to shareholders of record June 2. The company also said it has adopted a new annual share-repurchase program authorizing purchase of up to $70 million of Supervalu common stock. The new program replaces the $235 million share repurchase program authorized in April 2007.
Eric Wieffering, assistant managing editor/business • 612-673-4237 • ewieffering@startribune.com
