ST. PAUL, Minn., Sept. 1, 2022 /PRNewswire/ — 3M (NYSE: MMM) announced today both the successful completion of its split-off exchange offer for 3M common stock in connection with the previously announced separation of 3M’s food safety business and the closing of the merger of Garden SpinCo Corporation (“SpinCo”), the 3M subsidiary holding the food safety business, with a subsidiary of Neogen Corporation (“Neogen”). Pursuant to the merger, SpinCo is now a wholly-owned subsidiary of Neogen.
In the merger, each share of SpinCo common stock was converted into the right to receive one share of Neogen common stock. As a result, 3M stockholders who tendered shares of 3M common stock in the exchange offer and whose shares were accepted will receive approximately 6.7713 shares of Neogen common stock (subject to the receipt of cash in lieu of fractional shares) for each share of 3M common stock accepted for exchange.
Pursuant to the…
