MAPLEWOOD (dpa-AFX) - 3M (MMM) said that its board has approved the planned
spin-off of its Health Care business, which will be known as Solventum
Corporation. The company is anticipated to spin off from 3M on April 1, 2024,
and has applied to list on the New York Stock Exchange as 'SOLV.'

According to the company, Holders of 3M common stock will be entitled to receive
one share of Solventum common stock for every four shares of 3M common stock
held at the close of business on March 18, 2024, the record date for the
distribution. The distribution is expected to occur prior to the opening of
trading on April 1, 2024.

3M's Board approved the distribution to 3M shareholders of 80.1% of the
outstanding shares of Solventum. 3M will retain 19.9% of the outstanding shares
of Solventum common stock, which will be monetized within five years following
the spin-off.



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