Avon Rubber To Acquire 3M's Ballistic Protection Business

摘要

Britain’s Avon Rubber plc on Wednesday said it has agreed to acquire the U.S.-based ballistic protection business of 3M Corp. [MMM] for $91 million in cash, a deal that complements its respirator business and positions it in the U.S. defense market. Terms of the deal include a $25 million earn out provision based on the success of pending tenders and is expected to close in early 2020 subject to U.S. regulatory approvals.