ADESA Inc.

News & Analysis

adesa inc. and minnesota power - All News and Analysis

• Affiliate of Minnesota Power Company Buys Nine Auto Auctions.(Knight Ridder/Tribune Business News)

  - 2000-10-10

  Oct. 9--ADESA, a subsidiary of Allete, formerly called Minnesota Power Inc., announced Monday that it has completed its purchase of nine auto auctions. The company paid $251 million to buy the operations from Manheim Auctions. The deal involves auctions in Phoenix; San Francisco; Atlanta;...

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• Auction Subsidiary of Minnesota Power Company Buys Two Arkansas Auctions.(Knight Ridder/Tribune Business News)

  - 2000-08-16

  Aug. 15--The automobile auction subsidiary of Minnesota Power Inc. has expanded for the fourth time since January, nearly doubling its holdings in less than eight months. ADESA Corp. on Friday concluded the acquisitions of two Arkansas auctions, Mid-Ark Auto Auction in Little Rock and...

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• Minnesota Power Company Acquires Canadian Auto Auction Chains.(Knight Ridder/Tribune Business News)

  - 2000-06-26

  Jun. 20--ADESA, a Minnesota Power Inc. subsidiary that sells used vehicles, announced Tuesday its acquisition of Canadian Auction Group, a wholesale auto remarketing company with 13 auction sites and dealer financing operations located across Canada. The purchase, along with ADESA's recent acquisition of another...

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• Auto Services, Water Utilities Cited in Minnesota Power's Growth.(Knight Ridder/Tribune Business News)

  - 2000-01-18

  Jan. 19--You wouldn't know it by checking recent stock quotes, but Minnesota Power's five-year diversification strategy has produced a third year of solid earnings growth that exceeds that of most utilities in its peer group. The Duluth-based company reported 1999 net income of $104.2...

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• Minnesota Power Rated a Good Buy.(Originated from Duluth News-Tribune, Minn.)

  - 1997-06-05

  Jun. 5--At a time when some investors are shying away from lackluster utility stocks, a major Minnesota investment firm recently rated Duluth-based Minnesota Power a good buy. Dain Bosworth gave the company's stock a "buy" rating in an evaluation report mailed...

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• Minnesota Power Reports Rise in Earnings.(Originated from Duluth News-Tribune, Minn.)

  - 1996-10-23

  Oct. 23--Minnesota Power reported earnings of 58 cents per share for the third quarter of 1996, up from 52 cents for the same quarter in 1995. Electric operations and the company's investment portfolio contributed to the increased earnings. The Duluth-based, diversified...

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• Utility parent cleans house at ADESA auction company. (management shakedown at Minnesota Power and Light Co.'s newly-acquired ADESA Corp.)

  - 1996-08-26

  Minnesota Power and Light Co. instigated a management shakedown at ADESA Corp. resulting in the resignation of ADESA founder and CEO Michael Hockett. Along with Hockett, ADESA Pres. Larry Wechter, Vice-Chmn. and COO Dave Hill and general counsels Jerry Williams and Pat Stillman were also taken out of ADESA's senior...

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• Minnesota Power Buys ADESA Car Auction Firm, to Name New Chief Executive.(Originated from Duluth News-Tribune, Minn.)

  - 1996-08-22

  Aug. 22--Minnesota Power will complete its acquisition of ADESA, the auto auction company, by purchasing the remaining 17 percent of the company and naming a new executive. Early in 1995, Minnesota Power bought 80 percent of the Indianapolis-based auto auction company, a move that received a...

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