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Monday A.M. Report

Regulators shut down Pinehurst Bank, Valleyfair owner Cedar Fair sets $500 million offering, and Carlson to open Radisson Blu in Philippines

Regulators shut down Pinehurst Bank: The Minnesota Department of Commerce on Friday shut down Pinehurst Bank, which had become the worst capitalized bank in the Twin Cities, selling its assets to La Crosse, Wis.-based Coulee Bank. Read full story 

Valleyfair owner Cedar Fair sets $500 million offering: The owner of the Valleyfair amusement park in Shakopee is planning a $500 million offering of senior unsecured notes as part of a refinancing initiative. Cedar Fair Entertainment Co. said proceeds of the offering will be used to down its credit facilities. Read full story 

Carlson to open Radisson Blu in Philippines: Carlson Hotels will open its first Radisson Blu hotel in the Asia Pacific region in September, the company announced Friday. The 400-room hotel will open in the Philippines and will be called Raddison Blu Hotel Cebu. Read full story