With the delays in announcing the CEO, business name and HQ location of Spinco it’s becoming more likely that Spinco is being shopped around for a buyer.
My guess is that Spinco won’t be bought as an intact business, but split across several buyers. Maybe HIS will remain with medical? Maybe medical will be split into wound care, patient prep and HIS?
I’m interested if anyone else thinks the same and if so, who your money would be on for a potential buyer(s).
Nobody coz it’s a sinking ship
Either way its a win for spin. Both funds are flush with cash. And once that starts pouring in, all these morality debates here will come to an end. Money talks. Especially in capitalist countries.
@gdb+1nducsha - pit Saudi PIF against Qatari Investment Authority and looser gets to buy this SpinCo
Heard from a fairly reliable source new name will be
3M Healthcare
What a way to distance SpinCo from Parentco.
Saudi PIF?
My guess is that HC is split up for the sale:
That leaves OCSD and MSD. They could go as a pair to either private equity or another medical supply company. They could also work as a pair, or as two separate companies, indefinitely. These two I think have too many decent options to make a good guess.
HIS is ripe for selling.
The other groups could be split within reason but they’d lose out significantly in the process via incremental losses. Plus they’re successful, intact divisions that have diverse offerings… aka what 3M used to have.
Lack of CEO is irritating but medical is doing just fine and working on spin. As long as it’s not a 3Mer or GE id--t, it should be fine. The biggest issue is that Roman picks; nobody trusts his opinion.
Name is immaterial. The branding and artwork changes are monumental especially for med device. They’re probably very tempted to stay with “3M ___” because it’s easy but don’t want to.
Location is also immaterial. Staying in 275 complex for now and very likely to stay in MN. Holding out to make MN play nice for taxes. It’s not like ParentCo’s HQ is some prize with gunshots, asbestos, potholes, and JLL.
Are they sending flim flam and Monish to spinco?
SpinCo offered for FREE with all liabilities of 3M. Better yet, merge with Local company Medtronic so that both can assist each other in sun-setting.