3M: buys Scott Safety for 2 billion dollars.

(CercleFinance.com) - 3M has signed a definitive agreement to acquire safety devices maker Scott Safety from Johnson Controls for a total enterprise value of two billion dollars.


The US diversified manufacturer said that Scott Safety's solutions will complement its personal safety portfolio, which the group considers as a "core growth business."

Scott Safety's products including breathing systems and gas and flame detection instruments that help protect firefighters, industrial workers, police and military forces.

The company's annual revenues reached approximately 570 million dollars in 2016.

On a GAAP reported basis, 3M estimates that the acquisition will dilute its EPS by 0.10 dollar over the first 12 months after the deal's completion.

The transaction is set to close in the second half of 2017.

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