3M Corp Stock Price, News & Analysis

Epicore Biosystems has announced a collaboration with 3M and Innovize to enhance the development of its advanced sweat-sensing wearables. This partnership aims to leverage 3M's skin-interfacing materials and Innovize's manufacturing capabilities to improve production efficiency and support high-volume manufacturing of hydration monitoring devices. With rising temperatures increasing heat-related risks, this initiative ensures a robust domestic production infrastructure while expanding Epicore's portfolio of clinically validated products. The collaboration aims to address hydration management in sports and industrial settings.

3M (MMM) has launched the 3M Verify platform to combat counterfeit products, expanding its anti-counterfeit initiatives established during the COVID-19 pandemic. The platform allows customers to report suspected counterfeit products, building on efforts that led to the seizure of over 58 million counterfeit respirators. 3M's response teams will investigate all reports globally, reinforcing customer confidence in product authenticity. The company continues to prioritize innovation and fraud prevention, ensuring the quality associated with its brand worldwide.

Wrapmate has launched a new Franchise Wraps and Graphics Program, catering to franchisors across the U.S. The service enables franchisors to quickly and efficiently wrap between one and 10,000 vehicles, with coverage in all major markets. The program features flexible pricing with no setup costs for corporate entities, focusing on streamlined logistics and consistent branding. Franchisees benefit from an easy-to-use ordering platform, facilitating their vehicle graphics needs, while Wrapmate aims to enhance marketing effectiveness and support business growth for franchisees nationwide.

3M Health Information Systems achieved full FedRAMP authorization for its 3M RevCycle Health Services Platform (RHSP). This marks the first division of 3M to secure such a designation. The platform supports operations including natural language processing for medical coding and documentation integrity. The FedRAMP approval facilitates federal contracting, enhancing visibility and opportunities for 3M in the governmental sector.

The Command™ Large Organizing Caddy from 3M has won the Good Housekeeping 2022 Best Cleaning and Organizing Award in the "Cleverest Clutter Busters" category. This caddy is part of a new heavyweight product line enabling consumers to hang heavy items without wall damage. It can support up to 10 pounds and is ideal for various home areas. The product offers tool-free convenience and clean removal, addressing customer needs for easier organization. Command products are widely available at retailers and online.

3M announced a final proration factor of 7.346065% for its split-off exchange offer related to the separation of its food safety business. Approximately 203,610,687 shares were validly tendered, with odd-lot shareholders fully accepted. 15,989,536 shares were accepted for exchange at an exchange ratio of 6.7713 shares of SpinCo common stock for each share of 3M common stock. Following the merger with Neogen Corporation, 3M shareholders will receive approximately 6.7713 shares of Neogen for each tendered share.

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.