3M Co. is working with advisers on the sale of its food safety business, people with knowledge of the matter told Bloomberg.
The unit, which sells test kits and other products to help foodmakers monitor sanitation and allergens, could fetch about $3.5 billion, one of the people who asked not to be identified told Bloomberg
Bloomberg reported that no final decision has been made and 3M could still opt to retain the business, the people said. A representative of the St. Paul, Minnesota-based company declined to comment.
Source: Bloomberg
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