3M confirms agreement to acquire Polyporeís Separations Media business for $1B 3M (MMM) announced that it has entered into a definitive agreement with Polypore International (PPO) to acquire the assets and liabilities associated with Polyporeís Separations Media business for a total purchase price of $1B. Polyporeís Separations Media business is a leading provider of microporous membranes and modules for filtration in the life sciences, industrial and specialty segments with trailing 12-month sales of $210M as of Sept. 27, 2014. Separately, Asahi Kasei has announced that it has entered into a definitive merger agreement to acquire Polyporeís Energy Storage business. Both transactions are subject to regulatory approvals and customary closing conditions. In addition, both transactions are conditioned on 3Mís transaction with Polypore closing immediately prior to the closing of Asahi Kaseiís transaction with Polypore.
3M acquires Polypore's Separatoins Media Segment for $1B As an integrated step in Polypore's (PPO) sale to Asahi Kasei for $60.50, immediately prior the transaction, 3M (MMM) will acquire the assets of Polypore's Separations Media segment for approximately $1band Asahi Kasei will receive the cash proceeds from the asset sale. The definitive agreements require that the sale of the Polypore and the integrated sale of the Separations Media segment close after closing conditions for both transactions have been satisfied and that the closings of the transactions are conditioned upon one another.