3M, an American multinational conglomerate operating in the fields of industry, worker safety, healthcare, and consumer goods, completed the spin-off of Solventum, an American health care company, in a $12bn deal. Holders of 3M common stock received one share of Solventum common stock for every four shares of 3M common stock held at the close of business on March 18, 2024, the record date for the distribution. "This is an important day for 3M and Solventum, and I extend my sincere congratulations to members of both teams who have made this possible. Both companies are positioned to pursue their respective growth and tailored capital allocation plans, and I am excited to see both companies succeed as they innovate new solutions and create value for their respective stakeholders," Mike Roman, 3M Chairman and CEO.