Per UBS Analyst, 3M faces a total liability of $15 billion from the Combat Arms litigation, but his estimate is for a liability of about $7 billion. That compares with 3M’s settlement offer of $1 billion.
Yikes! Buckle up folks
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In that scenario, what happens to pension benefits to retired 3M lifers?
😎Not to mention the cost to perpetually 💯‼️ cleanse all the true and accurate comments on this board!
And that is 1/10 what PFAS settlements will cost...
Dupont tried to spin off it's Pfas liability into Chemours but a judge ruled they can't get away from the liability, so 3M is doing the opposite spin off everything else. I predict 3M to spin off everything they can away from PFAS and combat arms, isolate the liabilities down to a small "remain co. version 2 or 3" and just let that go bankrupt.
It's not good for those of use who work here, but I see where it's going... If your young don't plan on retiring at 3M it may not be around (but it's children co. will live on).