Maybe keep MSD and sell off the other 2 groups. I have a contact in Division Engineering who said that the support groups for Engineering are thin in the smaller groups except being fully loaded in MSD.
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Hope that a class action is made with the misleading of shareholders with the spinoff.
@pdu+1noNxIXq - Near zero chance of spin by end of 2023 as they're already hedging with excuses of why it might take longer than the 15 months they originally planned.
"We were working towards a Q4 '23, early 2024 time line. But just a reminder, our spin timing ultimately is subject to the IRS rulings because we want this to be a tax-free transaction, government approvals, making sure we get final Board approval and also taking into account other conditions like equity and debt markets, other external conditions that could impact -- on other developments that could impact 3M or any of its business. So put all that together, I would just say that teams are focused, dedicated teams continuing to make progress working through all the government regulations that we have to work through to get ready." - Monish Patolawala 04-25-2023
So I guess they have to wait for the IRS, the BOD, and the debt markets to get off their a$$es before they are allowed to tell HC employees and shareholders what the new company will be called, where it will be located, and who will be on the leadership team.
Maybe we can get more people from GE. That is working out well for us.
Does anyone even thinks there's a chance that spin will close end of this year? The fact that they haven't announced mgmt as of July 1 is mind boggling to me.
Rohit Kashyap (Smith & Nephew) for $100
Who will run the former 3M Health Care?
As time goes by, an acquisition is looking more and more likely. That is probably what they hoped to do all along. Maybe MSD goes and everything else folds back into 3M. Seems doubtful that one company would want all the HCBG parts that have very little in common. The spin was never about creating shareholder value, it’s about cash generation and survival.
Given it's July and a Spinco CEO is yet to be named, I'm not convinced there will be one. Is an acquisition brewing? Hmmm.
I bet both will be able to run either place into the ground. I would bet I don't have any confidence. How many friends does Tireman have??