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3M to Buy Aearo Technologies for $1.2 Billion
Topics:Mergers & Acquisitions
Companies:3M Company
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3M, which makes products ranging from Scotch tape to optical films for liquid crystal displays, Thursday said it agreed to buy Aearo Technologies, a maker of personal protection and energy absorbing products, for $1.2 billion.
The deal for Aearo, which is owned by funds advised by private equity firm Permira and company management, will be financed through a combination of cash and other borrowings, 3M, said in a statement.
3M [MMM
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] said the deal does not affect its 2007 profit forecast as it is not expected to close until the first quarter of 2008.
Copyright 2009 Reuters. Click for restrictions.
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