3M has received applications to exchange 215,199,594 of its securities for Neogen stock as part of a spin-off of its food safety business. 3M stockholders who submitted bids will receive 6.7713 shares of Neogen common stock in exchange for one share of their company's stock. Because more than 15,989,536 shares of 3M common stock were offered, there will be no pro rata distribution of Neogen securities to other 3M shareholders.