Welcome to our dedicated page for 3M news (Ticker: MMM), a resource for investors and traders seeking the latest updates and insights on 3M stock.
3M Company (NYSE: MMM) delivers cutting-edge materials science solutions across safety, transportation, and consumer markets. This news hub provides investors and industry professionals with centralized access to official corporate developments and market-moving updates.
Track 3M's latest earnings announcements, product innovations, and strategic initiatives through verified press releases and curated analysis. Our repository covers essential updates across all business segments including industrial safety systems, electronic materials advancements, and consumer product developments.
Key content categories include quarterly financial disclosures, manufacturing process innovations, sustainability initiatives, and global market expansions. Each update is presented with contextual clarity to support informed decision-making without speculative commentary.
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On September 1, 2022, 3M announced the completion of its exchange offer related to the separation of its food safety business, now merged with Neogen Corporation. In the merger, shareholders of 3M who participated in the offer will receive approximately 6.7713 shares of Neogen stock for each share tendered. 3M accepted nearly 16 million shares in exchange for over 108 million shares of SpinCo, its food safety business subsidiary. This transaction is valued at around $1 billion and aims to enhance shareholder value while reducing 3M's outstanding shares by approximately 3%.
3M announced preliminary results of its split-off exchange offer for stockholders to exchange shares for common stock in Garden SpinCo Corporation. A total of approximately 215 million shares were tendered, with around 15.99 million shares accepted for exchange, resulting in a proration factor of about 6.95%. The merger with Neogen Corporation is expected to close today, with shareholders receiving roughly 6.77 shares of Neogen common stock for each share of 3M common stock exchanged. Final results will be announced after the guaranteed delivery period.
3M has announced an upcoming investor event scheduled for September 14, 2022. Monish Patolawala, the executive vice president and chief financial officer, will present at the Morgan Stanley 10th Annual Laguna Conference at 11:45 a.m. EDT. This event will be accessible via a live webcast, with a replay available on 3M's Investor Relations website. 3M is committed to leveraging science and innovation to solve global challenges and improve lives.
3M (NYSE: MMM) announced a final exchange ratio of 6.7713 for its split-off exchange offer, allowing stockholders to exchange shares for SpinCo common stock. This offer is part of the separation of 3M's food safety business, which will merge with Neogen Corporation. The exchange offer expires at 11:59 p.m. on August 31, 2022, and if fully subscribed, 3M expects to accept approximately 15,989,536 shares. Stockholders may tender or withdraw their shares until the expiration date, with additional details available through Georgeson LLC.
3M is on track to separate its food safety business by September 1, 2022. This follows the U.S. Bankruptcy Court's decision to deny Aearo Technologies' request for a preliminary injunction in the ongoing litigation concerning Combat Arms Earplug Version 2 products. Aearo intends to appeal this ruling while continuing its Chapter 11 proceedings. 3M will vigorously defend its position in the associated multi-district litigation and appeals. The company is focusing on an efficient resolution of these challenges while proceeding with its planned business separation.
Neogen Corporation (NASDAQ: NEOG) announced that shareholders approved all proposals necessary for the combination with 3M's (NYSE: MMM) food safety business at a special meeting held on August 17, 2022. The merger is expected to finalize on September 1, 2022, pending customary closing conditions. Neogen's President and CEO, John Adent, expressed gratitude for shareholder support, highlighting anticipated growth and food security advancements. Final voting results will be filed with the SEC.
On August 12, 2022, the Board of Directors of 3M (NYSE: MMM) declared a quarterly dividend of $1.49 per share, payable on September 12, 2022, to shareholders on record as of August 22, 2022. This reflects over 100 years of uninterrupted dividend payments, showcasing the company’s commitment to returning value to shareholders. As of June 30, 2022, 3M had approximately 569.6 million shares outstanding with 64,391 shareholders. The company continues to focus on science and innovation to address global challenges.
3M Company (NYSE: MMM) has launched an exchange offer to separate its food safety business as part of a Reverse Morris Trust transaction with Neogen Corporation (NASDAQ: NEOG). 3M stockholders can exchange their shares for SpinCo common stock, which will convert to Neogen stock post-merger. The exchange provides approximately $107.53 of Neogen shares for every $100 of 3M stock tendered. The offer, which may be oversubscribed, is set to expire on August 31, 2022. Following completion, holders of SpinCo stock will own about 50.1% of Neogen's outstanding shares.
3M Health Care's Medical Solutions Division has launched two significant innovations in wound care: the 3M™ Veraflo™ Cleanse Choice Complete™ Dressing Kit and a software upgrade for the 3M™ V.A.C.® Ulta Therapy Unit. These advancements aim to simplify the administration of Veraflo Therapy, enhancing clinician efficiency and patient comfort by making dressing changes quicker and less painful. The upgraded software includes features that automate therapy initiation and improve usability, while the new dressing kit reduces the complexity of product application.
3M launches the revolutionary 3M™ On Demand Bonding System with 3M™ VHB™ Extrudable Tape, enhancing manufacturing with improved automation and sustainability. This innovative solution merges the effectiveness of traditional VHB tapes with the flexibility of liquid adhesives, allowing for easy application on various materials without the mess. The system aims to reduce waste, increase throughput, and streamline production processes. Available worldwide, this product marks a significant advancement in bonding technology, promising faster and more efficient manufacturing capabilities.
