We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of NEOGEN Corporation (“NEOGEN” or the “Company”) (NASDAQ:NEOG), in connection with the proposed merger of the Company with 3M Company(“3M”) (NYSE: MMM). Under the terms of the agreement, 3M’s Food Safety business will be spun-off to 3M shareholders and simultaneously merged with a wholly owned subsidiary of NEOGEN. At the completion of the transaction, NEOGEN will issue a number of shares to 3M shareholders such that 3M shareholders will receive approximately 50.1% of the combined company and existing NEOGEN shareholders will own approximately 49.9% of the combined company. The transaction is valued at approximately $9.3 billion.
WeissLaw LLP is investigating whether (i) NEOGEN’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, and (ii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.