3M Completes Spin-off Of Healthcare Business Solventum

(RTTNews) - 3M Company (MMM) Monday said it has completed the spin-off of its health care business named Solventum Corporation, which is listed on the New York Stock Exchange as SOLV.

3M stock holders received 1 share of Solventum for every four 3M shares they held as on March 18, 2024.

3M retained 19.9 percent of the outstanding shares of Solventum, which will be monetized within five years following the spin-off, the company said in a statement.

"Both companies are positioned to pursue their respective growth and tailored capital allocation plans," commented Mike Roman, 3M chairman and chief executive officer.