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Mergers and Acquisitions

  • 1/7/03 2:37 am CST
    ST. PAUL, Minn.--(BUSINESS WIRE)--3M announced today that it will acquire NEC Corp.'s 25 percent interest in Sumitomo 3M Limited for 45 billion Japanese Yen (approximately $375 million U.S. dollars). Upon completion of the cash transaction, 3M's interest in the joint venture will increase from 50 percent to 75 percent, with the remaining 25 percent owned by Sumitomo Electric Industries Ltd., (SEI). The acquisition is expected to close Jan. 8, 2003. Sumitomo 3Mmore...