Mergers & Acquisitions

3M has announced a realignment of its major business groups to better serve global markets and customers, effective immediately.

The new structure will be comprised of five business groups: Consumer (2011 sales of $4.2 billion), Industrial ($9.6 billion), Health Care ($5.0 billion) and two newly formed business groups: Safety & Graphics ($5.5 billion), and Electronics & Energy ($5.7 billion). Previously, the company operated six segments.

Seattle -- Green-building consulting firm Paladino and Co. said Wednesday it has acquired S.D. Keppler & Associates, a green consultancy out of Rockville, Md.
 
The two firms have joined to establish a comprehensive consulting offering focused on elevating the impact of green real estate programs within business.

London -- British retailer Tesco reported Wednesday that profit dropped 6.8% in its first fiscal half to $2.06 billion, weighed down by costs associated with its turnaround strategy.

Revenue for the period inched up 1.6% to $51.9 billion, but costs were up as well for the world’s third-largest retailer. Same-store sales fell off 0.7%.

"The plan is a long course of treatment for us, not a single dose," new CEO Philip Clarke said of the turnaround plan.

NEW YORK — Send the Trend, the e-commerce site acquired by QVC in February, has relaunched to provide a broader range of premier beauty and accessory products.

Dallas -- The Merchant Customer Exchange announced Tuesday that Bed Bath & Beyond, Dillard's, Dunkin’ Brands, Gap, Sheetz and Wakefern Food Corp. are among those joining the existing lineup of merchants who are committed to creating a seamless mobile-commerce solution.

Conshohocken, Pa. -- Ikea announced it is submitting plans to the city of Merriam, Kansas, for a Kansas City-area store that would increase the Swedish retailer’s presence in the Midwestern United States.  

Dallas -- SRS Real Estate Partners said it represented Brentwood Specialty Center, LLC in the sale of The Streets of Brentwood to a partnership between New York City-based DRA Advisors and RED Development out of Kansas City.

Beachwood, Ohio -- DDR Corp. announced Monday the acquisition of $328 million of prime assets and the disposition of $12 million of non-prime assets during the quarter.

Year to date, the company closed $2 billion of acquisitions, including the joint venture with Blackstone's flagship real estate fund, and disposed of $137 million of non-prime assets.

As of the third quarter, DDR said it has raised gross common equity capital of $435 million through the issuance of 31.7 million new common shares to fund investments and lower leverage.