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Article: Strategic Buyer of the Year.(3M Corp. acquires Quest Technologies Inc. and Meguiar's Inc.)
- Article from:
- Mergers & Acquisitions Report
- Article date:
- May 4, 2009
- Author:
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Byline: Ken MacFadyen
2008 was supposed to be the year of the strategic buyer. As it turned out, it was merely the year of two or three strategics, who managed to ramp up their M&A activity in spite of the economic unrest that sent all others to the sidelines. 3M Corp. was among those to take advantage, distinguishing itself with 18 separate acquisitions, paying an aggregate of $1.39 billion for all of them.
This activity was not necessarily out of the ordinary for the conglomerate, perhaps best known for its Scotch-brand tape and Post-It Notes. In 2006, for example, 3M spent $888 million on 19 new business combinations, according to its most recent 10K ...
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