|November 20, 2012|
|14:55 EDT||EFII, EFII, EFII, CRDN, CRDN, CRDN, MMM, MMM, MMM||Electronics for Imaging to be added to S&P 600; Ceradyne deleted as of 11/27|
S&P 100 & 500 constituent 3M Co.(MMM) is acquiring Ceradyne (CRDN) in a deal expected to be completed soon pending final conditions.
News For EFII;CRDN;MMM From The Last 14 Days
|July 2, 2015|
|07:13 EDT||EFII||Brean Capital continues to 'love' the set-up of Electronics for Imaging|
Brean Capital said they continue to love the set-up of Electronics for Imaging, believing the company has a good chance to deliver better than expected earnings as it executes its acquisition strategy. Brean Capital reiterated its Buy rating and $60 price target on Electronics for Imaging shares.
|July 1, 2015|
|16:09 EDT||EFII||Electronics for Imaging acquires Matan Digital Printers for approximately $29M|
Electronics For Imaging has acquired privately-held Matan Digital Printers, an award-winning provider of innovative technologies for superwide-format display graphics and other industrial printing applications. Matan's work force of approximately 70 employees has joined EFI, giving EFI a significant presence in Israel, a center for innovation in the printing industry. Yosefi has joined EFI as vice president and general manager, EFI Inkjet Israel. EFI's acquisition was an all-cash transaction in which EFI paid the shareholders of Matan approximately $29M to acquire all of Matan's outstanding shares. Under the purchase agreement, EFI also assumed approximately $5M of Matan's debt, and deposited $14M into escrow to serve as security for EFI's benefit for the indemnification obligations of the Matan shareholders. Subject to EFI's claims against the escrow, portions of the escrow may be released to the sellers in 2017 and 2022. The transaction is expected to be slightly accretive to FY 2015 earnings. The company will provide selected financial information about its anticipated Q3 results including the impact of this transaction during its regular Q2 earnings call scheduled for July 21.
|June 25, 2015|
|17:00 EDT||MMM||3M files patent infringement lawsuit in Germany for dental ceramic technology|
3M has filed a patent infringement lawsuit in Düsseldorf, Germany, against Zirkonzahn Deutschland GmbH located in Neuler, Germany, and Zirkonzahn SRL located in Gais, South Tyrol, Italy. The lawsuit alleges infringement of 3M’s European Patent No. 1 154 969 B2 by using Zirkonzahn’s instructions for sintering of Zirkonzahn’s zirconia blocks. 3M’s patented technology enables dimensionally precise sintering of dental ceramics.
|June 23, 2015|
|09:45 EDT||EFII||Electronics for Imaging initiated with a Buy at Longbow|
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|09:03 EDT||MMM||3M to buy Capital Safety from KKR in deal valued at $2.5B|
3M (MMM) announced it has entered into a definitive agreement to acquire Capital Safety from KKR (KKR) for a total enterprise value of $2.5B, including the assumption of approximately $700M of debt, net of cash acquired. The business employs approximately 1,500 people worldwide and is headquartered in Bloomington, Minnesota. On a GAAP reported basis, 3M estimates the acquisition to be 4c dilutive to earnings in the first 12 months following completion of the transaction. Excluding purchase accounting adjustments and anticipated one-time expenses related to the transaction and integration, 3M estimates the acquisition to be 12c accretive to earnings over the same period. The transaction is expected to close in the third quarter, subject to customary closing conditions and regulatory approvals. 3M will finance the transaction with existing cash, a portion of which will come from outside the U.S.
|June 22, 2015|
|14:31 EDT||MMM||3M files patent infringement suit in Korea against LMS Co. Ltd.|
3M Innovative Properties Co. and 3M Korea Ltd. filed a patent infringement lawsuit on June 19 in the Seoul Central District Court against LMS Co. Ltd. The suit alleges that certain LMS Co. Ltd. light management film package products, including a light management film package product sold under the product name of “XLAS,” infringe 3M’s Korean Patent No. 1,074,570 titled "Method for Stacking Surface Structured Optical Films." 3M’s microreplicated stacked prism films, including 3M Advanced Structured Optical Composites (ASOC), are integrated into LCD displays. The prism films direct light to enable a thinner and more energy-efficient electronic display.