Photo courtesy of 3M

Sep 02, 2022

Neogen, 3M Close Merger of Food Safety Business

Transaction included dedicated food safety manufacturing operations located in Bridgend, UK

3M has successfully completed its split-off exchange offer for 3M common stock in connection with the previously announced separation of 3M's food safety business and closing of the merger of Garden SpinCo Corp., the 3M subsidiary holding the food safety business, with a subsidiary of Neogen Corp.

Pursuant to the merger, SpinCo is now a wholly-owned subsidiary of Neogen.

"We believe our Food Safety business will be well positioned with Neogen, and we are pleased to close the transaction," said Mike Roman, 3M chairman and chief executive officer.

"By building a global innovator in food safety, the business will bring customers a broader offering of technologies and solutions, while unlocking greater value for shareholders."

3M employees globally who primarily supported 3M's food safety business will transition with the business in conjunction with the divesture. The transaction included dedicated food safety manufacturing operations located in Bridgend, UK.

Feed & Grain Staff

Sponsored Items

Recently Added to Buyer's Guide

AgraStrip Pro GMO Rapid Test Kits

  • Independent, simultaneous testing of up to four samples
  • Limits of detection as low as 0.1%

Granulex 5

  • Up to 30% reduction in energy consumption per ton
  • Connects to Bühler Insights to enable 24/7/365 data-based decision making

Automated Extrusion Control Systems

  • Designed for increased efficiency, higher production rates, reduced waste
  • Consistent results and quality across production lines, shifts and plants

Catwalks & Towers

  • Includes handrail trusses, outrigger trusses, and walk-thru truss style catwalks with standard spans over 200 feet
  • Welded sections and panels allow for easy field assembly while maximizing freight

Market+ Merchandise

  • Bid Management to upload or enter bids, easily adjust basis and other details, and publish to originators and farmers
  • Competitive insights to see how bids compare to other nearby bids

Hydro-Mix XT-FS Sensor

  • Designed to measure moisture in flowing material where there is a food safety requirement
  • Installed in ducting, conveying and mixing systems in process control environments

Magazine

Marketwatch: Dec, 06

US Corn Price Idx: ZCPAUS.CM

open: 6.5328
high: 6.55
low: 6.4408
close: 6.4673

US Soybean Price Idx: ZSPAUS.CM

open: 14.2059
high: 14.2809
low: 14.1255
close: 14.1516

US Hard Red Winter Wheat Price Idx: KEPAUS.CM

open: 8.3708
high: 8.3933
low: 8.0459
close: 8.0561

US Soft Red Winter Wheat Price Idx: ZWPAUS.CM

open: 6.9245
high: 6.947
low: 6.6307
close: 6.6779