Key Developments: 3M Co (MMM)
112.97USD
18 Jun 2013
$1.06 (+0.95%)
$111.91
$112.07
$113.23
$111.90
1,695,374
2,777,281
$113.23
$85.29
Latest Key Developments (Source: Significant Developments)
Bruker Corp And 3M Co Sign Exclusive Patent License Agreement
Bruker Corp announced that it has signed an exclusive patent license agreement with 3M Co, which allows Bruker to include 3M patented innovations relating to matrix-assisted laser desorption ionization (MALDI) mass spectrometry imaging. The licensed 3M patents are directed to a technique for performing mass spectrometry analysis on proteins in tissue that has been preserved in paraffin. The technology enables researchers to more easily study formalin-fixed, paraffin-embedded (FFPE) tissue for life-science research and drug development. Full Article
3M Co Declares Quarterly Dividend
3M Co announced that it has declared a dividend on the Company`s common stock of 63.5 cents per share for the second quarter of 2013, payable June 12, 2013, to shareholders of record at the close of business on May 24, 2013. Full Article
3M Co Lowers FY 2013 EPS Guidance; Reaffirms FY 2013 Revenue Guidance
3M Co announced that for fiscal 2013, it expects earnings to be in the range of $6.60 to $6.85 per share versus a previous expected range of $6.70 to $6.95 per share and organic local-currency sales growth of 2% to 5%. The Company reported revenue of $29.787 billion in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $31.45 billion and EPS of $6.82 for fiscal 2013. Full Article
3M Co And Avery Dennison Corp. Conclude Patent Infringement And Related Lawsuits
3M Co along with its wholly-owned subsidiary 3M Innovative Properties Co., announced that they have successfully concluded their lawsuits against Avery Dennison Corp. relating to retroreflective sheeting products used on traffic signs, pavement markings and other traffic control products. 3M’s patent infringement litigation against Avery has been resolved with the court entering a consent judgment in favor of 3M. Avery’s separate claims of patent infringement and antitrust violations against 3M have been dismissed by the court with prejudice. Full Article
3M Co Increases Dividend 8% and Authorizes $7.5 Billion Share Repurchase Program
3M Co announced that it has declared a dividend on the Company's common stock of 63.5 cents per share for the first quarter of 2013, an 8% increase over the quarterly dividend paid in 2012. The dividend is payable on March 12, 2013, to shareholders of record at the close of business on February 15, 2013. The board also authorized the repurchase of up to $7.5 billion of 3M's outstanding common stock, replacing the Company's existing repurchase program. The authorization has no pre-established closing date. Full Article
3M Co Reaffirms FY 2013 Guidance
3M Co affirmed fiscal 2013 full-year performance expectations and anticipates fiscal 2013 earnings to be in the range of $6.70 to $6.95 per share with organic local-currency sales growth of 2% to 5%. The Company reported revenue of $29.787 billion in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $31.343 billion and EPS of $6.85 for fiscal 2013. Full Article
3M Co Reaffirms FY 2013 EPS Guidance-Conference Call
3M Co reaffirmed its guidance for fiscal 2013 and expects 2013 earnings to be between $6.70 per share and $6.95 per share. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $6.83 for fiscal 2013. Full Article
3M Co Issues FY 2013 Guidance In Line With Analysts' Estimates
3M Co announced that for fiscal 2013, it expects earnings in the range of $6.70-$6.95 per share (EPS) with organic local-currency sales growth of 2%-5%. The Company reported revenue of $29.787 billion in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $31.266 billion for fiscal 2013; EPS of $6.85 for fiscal 2013. Full Article
3M Co Completes Acquisition Of Ceradyne, Inc
3M Co announced that it has completed acquisition of Ceradyne, Inc. effective as of November 28, 2012, pursuant to the previously announced merger agreement among Ceradyne, 3M, and 3M's wholly owned subsidiary, Cyborg Acquisition Corporation, through the merger of Cyborg Acquisition Corporation with and into Ceradyne. As a result of the merger, Ceradyne is now a wholly owned subsidiary of 3M. Full Article
3M Co's Cyborg Acquisition Corporation Updates On Ceradyne, Inc. Tender Offer
3M Co announced that its tender offer to purchase all issued and outstanding shares of common stock of Ceradyne, Inc. at a price of $35.00 per share was successful. The tender offer expired on November 27, 2012. The depositary for the tender offer has advised that, as of such time, a total of 21,093,164 shares were validly tendered and not withdrawn in the offer, representing approximately 87.7% of Ceradyne`s currently outstanding shares (or approximately 85.8% calculated on a fully diluted basis). 3M has accepted for payment all validly tendered shares. Pursuant to the previously announced merger agreement among Ceradyne, 3M, and 3M`s wholly owned subsidiary, Cyborg Acquisition Corporation. 3M will exercise the "top-up option" under the merger agreement, pursuant to which Cyborg Acquisition Corporation will purchase from Ceradyne additional shares of Ceradyne common stock, and intends to complete the second and final step of the acquisition, a short-form merger under Delaware law, later on November 28, 2012, pursuant to which Cyborg Acquisition Corporation will merge with and into Ceradyne and each share of Ceradyne common stock not tendered in the tender offer, other than those as to which holders exercise appraisal rights under Delaware law and those held by 3M or Ceradyne or their respective wholly owned subsidiaries, will be converted into the right to receive $35.00 per share in cash, without interest and less any required withholding taxes. Full Article
US STOCKS-Wall St extends rise, investors see no change in Fed policy
NEW YORK, June 18 - U.S. stocks advanced for a second straight day on Tuesday as investors bet the Federal Reserve would temper statements which were interpreted to mean a sooner-than-expected winding down of stimulus efforts.
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