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3M buys Aearo Technologies for $1.2 billion


Published : Thu, 15 Nov 2007 13:04
By : Agencies
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NEW YORK (Thomson Financial) - 3M Co. said it agreed to buy personal protection equipment maker Aearo Technologies Inc. for $1.2 billion.

3M intends to fund the purchase with cash and other borrowings. The company said it doesn't expect the deal to affect 2007 earnings, as the closing is expected in the first quarter of 2008

Aearo is owned by private equity firm Permira, as well as by company management.

3M's stock, a component of the Dow industrials, closed Wednesday at $80.21.

Tomi Kilgore

tk1

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Copyright Thomson Financial News Limited 2007. All rights reserved.

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