Minnesota Based 3M Will Sell Fiber Optics Business Unit In $900m Cash Deal

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Via Reuters

“(Reuters) – Gorilla Glass maker Corning Inc (GLW.N) said on Monday it would buy substantially all of 3M Co’s (MMM.N) communication markets business for about $900 million in cash.

3M’s unit provides optical fiber and copper passive connectivity solutions for the telecommunications industry and has annual global sales of about $400 million. The deal is part of New-York-based Corning’s plan to invest$1 billion-$3 billion in acquisitions, Corning said.”

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