3M, CUNO Acquisition Receives Required Regulatory Approvals
19 Julho 2005 - 2:30PM
PR Newswire (US)
3M, CUNO Acquisition Receives Required Regulatory Approvals ST.
PAUL, Minn. and MERIDEN, Conn., July 19 /PRNewswire-FirstCall/ --
3M Company (NYSE:MMM), and CUNO Incorporated (NASDAQ:CUNO)
announced today that they have now received all the regulatory
approvals required for the closing of the proposed acquisition of
CUNO by 3M in an all cash transaction for $72 dollars per share.
The 30-day waiting period under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976 expired on June 27, and notices have been
received from German, Austrian and Italian regulatory agencies
approving the merger. A special meeting of CUNO's stockholders to
vote on the transaction has been scheduled for August 2, 2005, with
closing of the transaction expected shortly thereafter. Additional
Information about the Merger and Where to Find It CUNO has filed a
proxy statement and other relevant documents concerning the
proposed merger with the Securities and Exchange Commission (the
"SEC"). CUNO INVESTORS ARE URGED TO READ THE PROXY STATEMENT AND
ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC BECAUSE THEY WILL
CONTAIN IMPORTANT INFORMATION. You may obtain these documents free
of charge at the website maintained by the SEC at
http://www.sec.gov/. In addition, you may obtain documents filed
with the SEC by CUNO free of charge by contacting CUNO's Chief
Financial Officer, 400 Research Parkway, Meriden Connecticut 06450.
CUNO and its directors and executive officers may be deemed to be
participants in the solicitation of proxies from CUNO's
stockholders in connection with the merger. Information about the
directors and executive officers of CUNO and their ownership of
CUNO stock is set forth in CUNO's proxy statements filed with the
SEC on February 3, 2005 and July 8, 2005. Investors may obtain
additional information regarding the interests of such participants
by reading the proxy statement for the merger when it becomes
available. Investors should read the proxy statement carefully when
it becomes available before making any voting or investment
decisions. Forward-Looking Statements This news release contains
forward-looking information (within the meaning of the Private
Securities Litigation Reform Act of 1995) about 3M's and CUNO's
financial results and estimates, business prospects, and products
under development that involve substantial risks and uncertainties.
You can identify these statements by the use of words such as
"anticipate," "estimate," "expect," "project," "intend," "plan,"
"believe," and other words and terms of similar meaning in
connection with any discussion of future operating or financial
performance. Among the factors that could cause 3M's actual results
to differ materially from those expressed herein are the following:
(1) worldwide economic conditions; (2) foreign currency exchange
rates and fluctuations in those rates; (3) the timing and
acceptance of new product offerings; (4) the availability and cost
of purchased components and materials, including oil- derived
compounds; (5) 3M's ability to successfully integrate and obtain
the anticipated synergies from acquisitions and strategic alliances
(including the acquisition of CUNO); (6) generating less operating
income from its corporate initiatives than estimated; and (7) legal
proceedings, including the outcome of and information derived from
pending Congressional action concerning asbestos-related litigation
and other significant developments that could occur in the legal
proceedings described in 3M's Annual Report on Form 10-K for the
year ended December 31, 2004 and in its Quarterly Report on Form
10-Q for the quarter ended March 31, 2005 (the "Reports"). Changes
in such assumptions or factors could produce significantly
different results. A further description of these factors is
located in the Reports. The forward-looking statements with respect
to CUNO are also subject to risks and uncertainties, which could
cause performance or actual results to differ materially from those
expressed herein. Such risks and uncertainties include, among other
things: risks that the transaction with 3M will not be completed;
volumes of shipments of CUNO's products; changes in product mix and
product pricing; costs of raw materials; the rate of economic and
industry growth in the U.S. and the other countries in which CUNO
conducts business; economic and political conditions in the foreign
countries in which CUNO conducts a substantial part of its
operations and other risks associated with international operations
including exchange rate fluctuations; CUNO's ability to protect its
technology, proprietary products and manufacturing techniques;
changes in technology; changes in legislative, regulatory or
industrial requirements and risks generally associated with new
product introductions and applications; and domestic and
international competition in CUNO's global markets. The information
contained in this news release is as of the date indicated. Neither
3M nor CUNO assumes any obligation to update any forward- looking
statements contained in this release as a result of new information
or future events or developments. About CUNO -- A Market Leading
Filtration Company CUNO is a leader in the design, manufacture, and
marketing of a comprehensive line of filtration products for the
separation, clarification, and purification of fluids and gasses.
Its proprietary products include uses in the healthcare,
industrial, and drinking water markets. CUNO operates manufacturing
facilities in the United States, Brazil, Mexico, France, Japan,
Australia and China, and has sales offices throughout the world.
About 3M -- A Global, Diversified Technology Company Every day, 3M
people find new ways to make amazing things happen. Wherever they
are, whatever they do, the company's customers know they can rely
on 3M to help make their lives better. 3M's brands include Scotch,
Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command
and Vikuiti. Serving customers in more than 200 countries around
the world, the company's 67,000 people use their expertise,
technologies and global strength to lead in major markets including
consumer and office; display and graphics; electronics and
telecommunications; safety, security and protection services;
health care; industrial and transportation. 3M, Empore, Scotch,
Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command
and Vikuiti are trademarks of 3M. Contact: Media Contact: 3M Donna
Fleming, 651-736-7646 or CUNO Frederick C. Flynn, Jr., 203-238-8847
or Investor Contacts: 3M Mark Colin, 651-733-8206 or Bruce
Jermeland, 651-733-1807 DATASOURCE: CUNO Incorporated CONTACT:
Donna Fleming, Media Contact, +1-651-736-7646, or Mark Colin,
Investor Contact, +1-651-733-8206, or Bruce Jermeland, Investor
Contact, +1-651-733-1807, all of 3M; or Frederick C. Flynn, Jr.,
Media Contact of CUNO, +1-203-238-8847 Company News On-Call:
http://www.prnewswire.com/comp/126696.html
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