GE playbook….how long until it happens at 3M? Seems the GE way is now the 3M way!
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Great move to step up discussion on HIS - not so smart on $1b for m-modal - should have sold last time the asset was under strategic review. HCB BD team was and is very weak
What would the split look like?
A wild speculation:
Health Care - Sell off HIS, spin off rest as a clean unit. - This one is easy to figure out.
TEBG - Current divisions plus FMS and minus AASD - This is the unit to take the PFOS liability and the bankruptcy. DMSD's cash flow will make it work through the Texas two-step.
SIBG - Current SIBG divisions plus AASD - Maybe send AAD to CBG? If earplugs are a fatal liability, split hearing off from PSD and into TEBG's dead pile.
CBG - Current plus maybe AAD, sending protective materials in HCD to TEBG. This part will be very short in manufacturing but that can be fixed.
Depressing. Stock worth less and less. Everyone good will leave.
Not surprisingly since 3M hired many of the GE into leadership....
Bankruptcy in 5 years to clear all the lawsuits and then split the assets into 3 separate companies.