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