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3M Co (MMM)

MMM on New York Consolidated

191.51USD
24 Mar 2017
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Latest Key Developments (Source: Significant Developments)

Xpel Technologies and 3M Co report settlement agreement in patent infringement lawsuit
Thursday, 23 Mar 2017 08:30am EDT 

Xpel Technologies Corp : Xpel Technologies Co and 3M company, today announced they have reached a settlement agreement in a patent infringement lawsuit . Under terms of settlement, Xpel will acquire a license to united states patent no. 8,765,263 . 3M and Xpel have agreed to dismiss lawsuit "without prejudice" .The patent infringement lawsuit was filed by 3M Company and 3M innovative properties company on December 30, 2015.  Full Article

3M CEO Inge Thulin's FY 2016 total compensation was $16.7 mln
Wednesday, 22 Mar 2017 10:31am EDT 

3m Co : CEO Inge Thulin's FY 2016 total compensation was $16.7 million versus $19.4 million in FY 2015 - sec filing . 3M Co says CFO Nicholas C. Gangestad's total 2016 compensation was $5.8 million versus $5.1 million in 2015 . EVP, consumer business group, Joaquin Delgado's FY 2016 total compensation $4.6 million versus $4.1 million in FY 2015 .EVP, health care business group, Michael Vale's FY 2016 total compensation $4.5 million versus $4.1 million in FY 2015.  Full Article

3M to acquire Scott Safety from Johnson Controls
Thursday, 16 Mar 2017 08:19am EDT 

3M Co : 3M to acquire Scott Safety from Johnson Controls . 3M Co - total enterprise value of $2.0 billion . 3M Co - 3M will finance transaction through a combination of cash and debt . 3M Co - on a GAAP reported basis, 3M estimates acquisition to be $0.10 dilutive to earnings in first 12 months following completion of transaction . 3M Co - 3M estimates acquisition to be $0.10 accretive to earnings over same period . 3M Co - excluding purchase accounting adjustments and anticipated one-time expenses , estimates acquisition to be $0.10 accretive to earnings .3M Co - Citi and Goldman Sachs & Co. acted as financial advisors to 3M and Cleary Gottlieb Steen & Hamilton Llp acted as legal counsel to 3M.  Full Article

Johnson Controls to sell Scott Safety business to 3M
Thursday, 16 Mar 2017 08:19am EDT 

Johnson Controls International Plc : Johnson Controls to sell Scott Safety business to 3M for $2 billion . Johnson Controls International - plans to offset dilution from transaction, including increasing its share repurchase program during remainder of FY 2017 . Johnson Controls International - net cash proceeds from transaction to be used to repay portion of Tyco International Sarl's $4.0 billion of merger related debt . Johnson Controls International Plc - centerview partners acted as Johnson Controls' financial advisor in connection with transaction . Johnson Controls International Plc - net cash proceeds from transaction are expected to approximate $1.8 to $1.9 billion .Johnson Controls International Plc - Simpson Thacher & Bartlett and Axinn, Veltrop & Harkrider acted as legal counsel for co.  Full Article

3M announces changes to its segments, effective Q1, 2017 - SEC filing
Thursday, 9 Mar 2017 01:43pm EST 

3M Co : Effective Q1, 2017, co's former Renewable Energy Division integrated within Electronics & Energy segment, Safety & Graphics segment - SEC filing . Effective Q1, 2017, co consolidated its customer account activity in U.S. into more centralized sales districts .Effective Q1 2017, co created Automotive, Aerospace Solutions Division, combining former Automotive Division & Aerospace, Commercial Transportation Division.  Full Article

3M Co files for potential mixed shelf, size undisclosed
Friday, 24 Feb 2017 12:14pm EST 

3m Co :Files for potential mixed shelf; size undisclosed - SEC filing.  Full Article

State Street Corp reports 7.62 percent passive stake in 3M CO as of Dec 31, 2016
Tuesday, 14 Feb 2017 10:26am EST 

State Street Corp :State Street Corp reports 7.62 percent passive stake in 3M co as of Dec 31, 2016-SEC filing.  Full Article

3M wins preliminary injunction against Spain-based BossAuto
Thursday, 19 Jan 2017 01:33pm EST 

3M Co : 3M wins preliminary injunction against Spain-based BossAuto; protects PPS technology .Court order prohibits import and/or manufacture, export, promotion, introduction in trade and marketing of BossAuto's "BossAuto paint system".  Full Article

Umicore acquires NMC battery material patents from 3M
Tuesday, 10 Jan 2017 01:32am EST 

Umicore SA : Umicore acquires nmc battery material patents from 3M . Umicore takes over all rights and responsibilities with existing licensees of 3M .Patents collectively cover South Korea, China, Japan, Europe and United States and have a validity of between 2021 and 2024.  Full Article

3M to sell indentity management business to Gemalto for $850 mln
Thursday, 8 Dec 2016 07:27pm EST 

3M Co : 3M to sell identity management business . Deal for $850 million, subject to closing and other adjustments. . Upon completion of sale, 3M will record a gain related to transaction . Says has entered into agreements to sell identity management business within its traffic safety and security division, to Gemalto . In addition, co will incur various charges as it continues to make investments to drive growth and improve productivity .Approximately 450 3M employees are expected to transfer to Gemalto with acquisition.  Full Article

More From Around the Web

BRIEF-Xpel Technologies and 3M Co report settlement agreement in patent infringement lawsuit

* Xpel Technologies Co and 3M company, today announced they have reached a settlement agreement in a patent infringement lawsuit