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3M Co (MMM.N)

MMM.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

3M Co Files For Four-Part Notes Offering Size Not Disclosed
2:02pm BST 

Aug 19 (Reuters) - 3M Co ::3M CO FILES FOR FOUR-PART NOTES OFFERING; SIZE NOT DISCLOSED - SEC FILING.  Full Article

SA's Competition Commission Unconditionally Approves Colossal SPV - Aveng Infraset Deal
Thursday, 15 Aug 2019 

Aug 15 (Reuters) - SA'S Competition Commission::UNCONDITIONALLY APPROVED PROPOSED MERGER WHERE COLOSSAL SPV INTENDS TO BUY AVENG INFRASET, A UNIT OF AVENG AFRICA.UNCONDITIONALLY APPROVED PROPOSED MERGER WHEREBY 3M INTENDS TO ACQUIRE ACELITY.  Full Article

3M To Sell Its Advanced Ballistic-Protection Business
Wednesday, 7 Aug 2019 

Aug 7 (Reuters) - 3M Co ::PRESS RELEASE - 3M TO SELL ITS ADVANCED BALLISTIC-PROTECTION BUSINESS.3M CO - A FURTHER CONTINGENT CONSIDERATION OF UP TO $25 MILLION IS PAYABLE DEPENDING ON OUTCOME OF PENDING TENDERS.3M CO - ENTERED INTO AN AGREEMENT WITH AVON RUBBER P.L.C. TO PURCHASE 3M'S ADVANCED BALLISTIC-PROTECTION BUSINESS FOR $91 MILLION.3M CO SAYS 3M EXPECTS EARNINGS PER SHARE IMPACT OF THIS DIVESTITURE TO BE NEUTRAL..3M CO - APPROXIMATELY 280 3M EMPLOYEES, WHO PRIMARILY SUPPORT BUSINESS, ARE EXPECTED TO JOIN AVON RUBBER AS A RESULT OF SALE.3M CO - AS A PART OF ONGOING PORTFOLIO MANAGEMENT, 3M HAS DECIDED TO SELL THIS BUSINESS AND FOCUS ON OTHER BUSINESSES WITHIN ITS ADVANCED MATERIALS DIVISION.3M CO SAYS ENTERED INTO AN AGREEMENT WITH AVON RUBBER P.L.C. TO PURCHASE 3M'S ADVANCED BALLISTIC-PROTECTION BUSINESS.  Full Article

3M Sets Quarterly Dividend Of $1.44 Per Share
Tuesday, 6 Aug 2019 

Aug 6 (Reuters) - 3M Co ::3M BOARD DECLARES QUARTERLY DIVIDEND.SETS QUARTERLY DIVIDEND OF $1.44PER SHARE.  Full Article

3M Sets Quarterly Dividend Of $1.44 Per Share
Tuesday, 14 May 2019 

May 14 (Reuters) - 3M Co ::SETS QUARTERLY DIVIDEND OF $1.44PER SHARE.3M BOARD DECLARES QUARTERLY DIVIDEND.  Full Article

New Jersey AG Says Suit Filed Against 3M, Dupont For Sale of Firefighting Foam Product
Tuesday, 14 May 2019 

May 14 (Reuters) - New Jersey AG::NEW JERSEY AG, DEP ANNOUNCE SUIT AGAINST 3M, DUPONT, OTHERS FOR MAKING, SELLING TOXIC CHEMICALS IN FIREFIGHTING FOAM PRODUCT.LAWSUIT FILED AGAINST COS FOR SELLING FIREFIGHTING FOAM PRODUCTS IN NEW JERSEY DESPITE KNOWING PRODUCTS RELEASED TOXIC CHEMICALS.LAWSUIT INCLUDES BOTH ENVIRONMENTAL & CONSUMER FRAUD CLAIMS, SEEKS NATURAL RESOURCE DAMAGES ALONG WITH OTHER DAMAGES AND PENALTIES.  Full Article

3M Shareholders Elect 12 Nominees To Co's Board For A One-Year Term
Tuesday, 14 May 2019 

May 14 (Reuters) - 3M Co ::3M ANNUAL MEETING HIGHLIGHTS 2018 PERFORMANCE.3M CO - 3M SHAREHOLDERS ELECTED 12 NOMINEES TO COMPANY'S BOARD OF DIRECTORS FOR A ONE-YEAR TERM.3M CO - SHAREHOLDERS DID NOT APPROVE SHAREHOLDER PROPOSAL TO SET TARGET AMOUNTS FOR CEO COMPENSATION..  Full Article

3M To Acquire Acelity Inc
Thursday, 2 May 2019 

May 2 (Reuters) - 3M Co ::3M TO ACQUIRE ACELITY INC..3M CO - ACQUISITION EXPANDS PRESENCE IN ADVANCED AND SURGICAL WOUND CARE.3M CO - DEAL FOR TOTAL ENTERPRISE VALUE OF APPROXIMATELY $6.7 BILLION.3M CO - 3M NOW EXPECTS FULL-YEAR 2019 SHARE REPURCHASES TO BE IN RANGE OF $1.0 BILLION TO $1.5 BILLION VERSUS $2.0 BILLION TO $4.0 BILLION PREVIOUSLY..3M CO - ON A GAAP REPORTED BASIS, 3M ESTIMATES ACQUISITION TO BE $0.35 DILUTIVE TO EARNINGS PER SHARE IN FIRST 12 MONTHS FOLLOWING COMPLETION.3M - EFFECTIVE ENTERPRISE VALUE MULTIPLE IS APPROXIMATELY 11 TIMES ESTIMATED ANNUAL ADJUSTED EBITDA FOR FIRST 12 MONTHS FOLLOWING COMPLETION OF TRANSACTION.3M CO - 3M WILL FINANCE TRANSACTION WITH A COMBINATION OF AVAILABLE CASH AND PROCEEDS FROM ISSUANCE OF NEW DEBT.3M CO - ON A GAAP REPORTED BASIS, ESTIMATES ACQUISITION TO BE $0.35 DILUTIVE TO EPS IN FIRST 12 MONTHS FOLLOWING COMPLETION OF TRANSACTION.3M CO - ENTERED INTO DEFINITIVE AGREEMENT TO ACQUIRE ACELITY INC. AND ITS KCI SUBSIDIARIES WORLDWIDE.3M CO - ESTIMATES ACQUISITION TO BE $0.25 ACCRETIVE TO EARNINGS PER SHARE IN FIRST 12 MONTHS FOLLOWING COMPLETION OF TRANSACTION.  Full Article

3M Co Says End Market Softness In China Hurt Results
Thursday, 25 Apr 2019 

April 25 (Reuters) - 3M Co ::3M CO SAYS SAW END MARKET SOFTNESS IN CHINA, AUTOMOTIVE AND ELECTRONICS; SAYS ALSO FACED CHANNEL INVENTORY ADJUSTMENTS, WHICH NEGATIVELY IMPACTED SEVERAL OF CO'S BUSINESSES.3M CO SAYS GROWTH CONDITIONS IN CERTAIN MARKETS HAVE BEEN SLOWER-THAN-ANTICIPATED GOING INTO THE YEAR.3M CO SAYS REMAINS POSITIVE ON THE GLOBAL MACROECONOMIC ENVIRONMENT.3M CO SAYS ASIA PACIFIC WAS DOWN 3.6 PERCENT ORGANICALLY IN Q1, IMPACTED BY THE SLOWDOWN IN CHINA, AUTOMOTIVE AND ELECTRONICS MARKETS - CONF CALL.3M CO SAYS PRODUCTIVITY CHALLENGES WERE MOST PRONOUNCED IN CO'S INDUSTRIAL-RELATED BUSINESSES WITHIN ASIA PACIFIC AND THE UNITED STATES - CONF CALL.3M CO SEES FY 2019 CAPEX $1.6 BILLION TO $1.7 BILLION VERSUS $1.7 BILLION TO $1.9 BILLION, PREVIOUSLY.3M CO SAYS CONTINUE TO EXPECT FULL YEAR SHARE REPURCHASES IN THE RANGE OF $2 BILLION TO $4 BILLION.3M CO SAYS SLOW ORGANIC GROWTH WITHIN INDUSTRIAL WAS MOST PRONOUNCED IN AUTOMOTIVE BUSINESS.3M CO SAYS CO'S AUTOMOTIVE OEM BUSINESS WAS DOWN 9 PERCENT YEAR-ON-YEAR, IMPACTED BY A 6 PERCENT DECLINE IN Q1 GLOBAL CAR AND LIGHT TRUCK BUILDS ALONG WITH CHANNEL INVENTORY REDUCTIONS, PARTICULARLY IN CHINA.3M CO CEO SAYS "THERE IS AN EXPECTATION THAT THERE WILL BE A BROADER GROWTH IN THE GLOBAL MACRO AND MAYBE A BIT SLOWER AS WE COME THROUGH THE YEAR IN TERMS OF GLOBAL INDUSTRIAL PRODUCTION IN PARTICULAR".  Full Article

3M Says Co Initiated Restructuring That Will Result In An Expected Reduction Of 2,000 Positions Worldwide
Thursday, 25 Apr 2019 

April 25 (Reuters) - 3M Co ::3M REPORTS FIRST-QUARTER 2019 RESULTS; COMPANY INITIATES RESTRUCTURING.Q1 ADJUSTED EARNINGS PER SHARE $2.23 EXCLUDING ITEMS.Q1 GAAP EARNINGS PER SHARE $1.51.Q1 SALES $7.9 BILLION VERSUS REFINITIV IBES ESTIMATE OF $8.02 BILLION.SEES FY 2019 ADJUSTED EARNINGS PER SHARE $9.25 TO $9.75 EXCLUDING ITEMS.SEES FY 2019 GAAP EARNINGS PER SHARE $8.53 TO $9.03.Q1 EARNINGS PER SHARE ESTIMATE $2.49 -- REFINITIV IBES DATA.CLOSED ACQUISITION OF M*MODAL'S TECHNOLOGY BUSINESS.ANNOUNCED COMPANY REALIGNMENT FROM FIVE TO FOUR BUSINESS GROUPS EFFECTIVE APRIL 1.INITIATED RESTRUCTURING THAT WILL RESULT IN AN EXPECTED REDUCTION OF 2,000 POSITIONS WORLDWIDE.TWO SIGNIFICANT LITIGATION ISSUES IMPACTED 3M'S FIRST-QUARTER RESULTS.COMPANY ESTABLISHED A RESERVE OF $235 MILLION TO RESOLVE CERTAIN ENVIRONMENTAL MATTERS AND LITIGATION.Q1 2019 EXCLUDES SIGNIFICANT LITIGATION-RELATED CHARGES OF $0.72 PER SHARE.ESTIMATED ANNUAL PRE-TAX SAVINGS RANGE OF $225 MILLION TO $250 MILLION FROM RESTRUCTURING AND OTHER ACTIONS.ANTICIPATES A PRE-TAX CHARGE IN 2019 OF APPROXIMATELY $150 MILLION, OR $0.20 PER SHARE.COMPANY MAINTAINED ITS FULL-YEAR EXPECTATIONS FOR FREE CASH FLOW CONVERSION OF 95 TO 105 PERCENT.SEES 2019 ORGANIC LOCAL-CURRENCY SALES GROWTH GUIDANCE TO BE IN RANGE OF MINUS 1 TO PLUS 2 PERCENT.DURING Q1 OF 2019, COMPANY RECORDED SIGNIFICANT LITIGATION-RELATED PRE-TAX CHARGES OF $548 MILLION, OR $0.72 PER SHARE.QTRLY ORGANIC LOCAL-CURRENCY SALES DECLINED 1.1 PERCENT.  Full Article

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HONG KONG John Lam's safety equipment shop has been spared the global downdraft shaking Hong Kong's economy. In times of crisis, businesses providing basic necessities tend to fare better.