Neogen Corp.

NASDAQ:NEOG   3:59:59 PM EDT
22.27
+0.01 (+0.04%)
Mergers / Acquisitions

3M Commences Split-Off Exchange Offer For Food Safety Business

Published: 08/04/2022 18:58 GMT
Neogen Corp. (NEOG) - 3m Commences Split-off Exchange Offer for Food Safety Business.
3m Co - Stockholders Have Option to Exchange Some, All Or None of Their Shares of 3m Common Stock for Shares of Common Stock of Spinco.
3m Co - Tendering 3m Stockholders Are Expected to Receive About $107.53 of Neogen Common Stock for Every $100.00 of Shares of 3m Common Stock Tendered.
3m Co - Shares of Spinco Common Stock Will Convert Automatically Into Right to Receive Shares of Neogen Common Stock at Closing of Merger.
3m Co - Currently Expects That Approximately 108.3 Million Shares of Spinco Common Stock Will Be Available in Exchange Offer.
3m Co - Shares of Spinco Common Stock Will Not Be Transferred to Participants in Exchange Offer.
3m Co - After Deal, a Subsidiary of Neogen Will Be Merged With and Into Spinco and Spinco Will Become a Wholly-owned Subsidiary of Neogen.
3m - As Result of Merger, Each Share of Spinco Common Stock (except for Certain Excluded Shares) Will Be Converted Into 1 Share of Neogen Common Stock.
3m Co - If Deal Terminated by Co, Intends to Distribute Shares of Spinco Common Stock Owned on Pro Rata Basis to Holders of Shares of 3m Common Stock.