3M Expands Personal Safety Portfolio With $2B Acquisition of Johnson Controls’ Scott Safety
We do not expect a material change to our fair value estimate of $167 per share after wide-moat 3M’s agreement to acquire Johnson Controls’ Scott Safety for $2 billion, or 13 times trailing 12-month EBITDA. A maker of respirators and gas detection systems, Scott’s products add to 3M’s growing personal safety platform. The deal comes nearly two years after 3M paid $2.5 billion, or 14 times EBITDA, to acquire Capital Safety, a manufacturer of fall-protection harnesses. Together, Capital Safety and...
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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