3M has entered into an agreement with Neogen to merge its food safety business with the company. 3M shareholders will receive 50.1% of the combined company. 3M itself will receive another $1 billion. The food safety business is valued at $5.3 billion and the EV of the combined company will be $9.3 billion. The deal is expected to be completed by the end of Q...

Neogen's GAAP net income for 3M 2022 fiscal year was $17.077 million, up 7.7% from $15.86 million in the prior year. Revenue increased 17.4% to $128.305 million from $109.325 million a year earlier.

Neogen's GAAP net income for fiscal year 2021 was $60.882 million, up 2.4% from $59.475 million the prior year. Revenue increased 12% to $468.459 million from $418.17 million a year earlier.

Neogen's board of directors announced a 2-for-1 stock split. Shareholders of record as of May 26 will each receive one additional share. The distribution will take place on June 4, 2021.