MedTech Dive March 12, 2024
Investors will receive one share of Solventum for every four shares of 3M they hold on March 18.
Dive Brief:
- The board of directors of 3M approved the planned spinoff of the company’s healthcare business, marking another step toward the anticipated completion of the transaction on April 1, the company announced Friday.
- The conglomerate hatched the plan to turn its healthcare unit into an independent company in July 2022 and, after a delay, is now weeks away from closing the deal and creating Solventum.
- Investors will receive one share of Solventum for every four shares of 3M they hold on March 18. The transactions will result in 3M shareholders owning roughly 80% of the new company.
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