Posted 4/1/2024, 10:34:19 AM
3M Completes Spin-Off of Health Care Business into New Public Company Solventum Corp.
- 3M completed the spin-off of its health care business as the independent company Solventum Corp. (SOLV)
- Solventum shares were distributed tax-free to 3M shareholders at a ratio of 1 Solventum share for every 4 shares of 3M stock
- 3M retained 19.9% ownership stake in Solventum that will be sold within 5 years
- The spin-off is intended to enable both companies to pursue tailored growth and capital allocation strategies
- Forward-looking statements caution that actual future results may differ materially due to various internal and external factors
