3M Wraps Up Spin-off of Solventum

ST. PAUL, Minn., April 1, 2024 /PRNewswire/ — Today marks a big milestone as 3M officially spins off its health care business, birthing Solventum Corporation as a standalone entity. Solventum is now trading on the New York Stock Exchange under the ticker SOLV.

“This is a huge deal for both 3M and Solventum, and I want to give a big shout-out to everyone who made this happen,” said Mike Roman, 3M’s chairman and CEO. “Both companies are now free to chase their own growth paths and tailor their investment strategies. I’m pumped to see them both thrive as they roll out new innovations and add value for their shareholders.”

Shareholders of 3M got one share of Solventum for every four shares of 3M they owned as of March 18, 2024, the cutoff date for the spin-off. For tax purposes, this split is generally expected to be tax-free for 3M shareholders. More details on this are available here.

3M kept 19.9% of Solventum’s shares, which they plan to cash out within five years post-spin-off.

Forward-Looking Statements This update includes forward-looking statements. You’ll spot them by words like “plan,” “expect,” “aim,” “believe,” “project,” “target,” “anticipate,” “intend,” “estimate,” “will,” “should,” “could,” “would,” “forecast,” and similar terms. Several factors could throw actual results off course, including: (1) global economic, political, regulatory, trade, and other external conditions beyond our control; (2) currency exchange rates and their fluctuations; (3) risks tied to certain fluorochemicals, like claims and lawsuits over PFAS-related products; (4) risks linked to the proposed class-action settlement for PFAS claims by U.S. public water systems; (5) legal developments, as detailed in our Annual Report on Form 10-K for the year ending Dec. 31, 2023, and subsequent quarterly reports; (6) competition and customer preferences; (7) the rollout and reception of new products and services; (8) availability and costs of components, materials, and energy; (9) issues with the phased rollout of our global ERP system or IT disruptions; (10) impacts from acquisitions, alliances, divestitures, and other strategic moves; (11) operational performance, including realizing productivity gains and handling organizational changes; (12) financial market impacts on our pension and postretirement obligations; (13) our credit ratings and cost of capital; (14) tax-related external changes; (15) risks related to the spin-off of our Health Care business; and (16) matters related to Combat Arms Earplugs (“CAE”). Changes in these factors could lead to different outcomes. More on these factors can be found in our reports under “Cautionary Note Concerning Factors That May Affect Future Results” and “Risk Factors.” We’re not obligated to update any forward-looking statements here due to new info or future developments.

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