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3M to Buy Aearo Technologies for $1.2 Billion

Topics:Mergers & Acquisitions

Companies:3M Company

By: Reuters | 15 Nov 2007 | 08:30 AM ET

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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 Loading... () ] said the deal does not affect its 2007 profit forecast as it is not expected to close until the first quarter of 2008.

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