What happens if 3M shares are merged with garden Spinco?

Under the terms of the agreement released on 4 August, owners of shares in 3M will have the option to exchange their 3M stock for shares in the common stock of an entity called Garden SpinCo. On 29 August, shareholders will face a deadline for taking part in the merger.

What happens if Spinco shares are merged with Neogen?

Shares of SpinCo common stock will convert automatically into the right to receive shares of Neogen common stock at the closing of the Merger, which is expected to occur promptly after completion of the exchange offer.

What happened to Spinco?

Pursuant to the merger, SpinCo is now a wholly-owned subsidiary of Neogen. In the merger, each share of SpinCo common stock was converted into the right to receive one share of Neogen common stock.

How many shares of Spinco will be available in the exchange offer?

3M currently expects that approximately 108.3 million shares of SpinCo common stock will be available in the exchange offer, with the final number dependent on the number of outstanding shares of Neogen common stock outstanding immediately prior to the closing of the Merger.