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3M Co (MMM)

MMM on New York Consolidated

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21 Jul 2017
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Latest Key Developments (Source: Significant Developments)

3M completes sale of tolling and automated license/number plate recognition business
Friday, 30 Jun 2017 11:00am EDT 

June 30 (Reuters) - 3M Co ::3M completes sale of tolling and automated license/number plate recognition business.Impact of transaction will be neutral to both second-quarter and full-year 2017 GAAP earnings per share.  Full Article

3M to sell its electronic monitoring business
Thursday, 1 Jun 2017 08:00am EDT 

June 1 (Reuters) - 3M Co ::3M to sell its electronic monitoring business; transportation safety division to focus on connected roadways of the future.3M co - ‍upon completion of this transaction, 3m expects to record a gain of approximately $0.15 per share from this divestiture​.3M co - entered into an agreement to sell its electronic monitoring business to an affiliate of apax partners for $200 million.3M co - approximately 265 3M employees who support electronic monitoring business are expected to transfer in connection with sale.  Full Article

3M to sell its Tolling and Automated License/Number Plate Recognition business
Wednesday, 10 May 2017 10:00am EDT 

May 10 (Reuters) - 3M Co : :3M to sell its Tolling and Automated License/Number Plate Recognition business.Approximately 85 employees are expected to join Neology upon completion of sale.Entered into agreements to sell its Tolling and Automated License/Number Plate Recognition business to Neology, Inc, a subsidiary of SMARTRAC.  Full Article

3M Q1 GAAP earnings per share $2.16
Tuesday, 25 Apr 2017 07:30am EDT 

April 25 (Reuters) - 3M Co ::3M delivers first-quarter sales of $7.7 billion and earnings of $2.16 per share; company raises its full-year 2017 outlook.Q1 GAAP earnings per share $2.16.Q1 sales $7.7 billion versus i/b/e/s view $7.47 billion.Sees FY 2017 earnings per share $8.70 to $9.05.Q1 earnings per share view $2.06 -- Thomson Reuters I/B/E/S.3M co - foreign currency translation decreased sales by 0.5 percent in quarter.3M co says company now forecasts organic local-currency sales growth to be 2 to 5 percent in 2017.3M co says affirmed its free cash flow expectation of 95 to 105 percent for 2017.Qtrly organic local-currency sales increased 4.6 percent while divestitures reduced sales by 0.4 percent.Fy2017 earnings per share view $8.63 -- Thomson Reuters I/B/E/S.  Full Article

3M files lawsuit against K2 Concepts and Phoenix Automotive Refinishing for patent infringement
Thursday, 6 Apr 2017 08:30am EDT 

3m Co : 3M files lawsuit against K2 concepts and phoenix automotive refinishing for patent, trademark, and copyright infringement . 3M co-suit alleges certain automotive painting spray gun cup products made by phoenix in china infringe seven 3m patents directed to co's pps technology .3M co - suit also alleges that phoenix's marketing materials for the same spray gun cup products infringe 3m's registered copyright and trademarks.  Full Article

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

BRIEF-3M completes sale of tolling and automated license/number plate recognition business

* 3M completes sale of tolling and automated license/number plate recognition business