MoFo Reps Cogent In $943M Purchase By 3M

Law360, New York (August 30, 2010, 5:40 PM EDT) -- 3M Co. announced Monday that it had reached an agreement to purchase biometric identification developer Cogent Inc. for $943 million.

Shareholders will receive $10.50 for each share of Cogent stock. The company's shares closed at $8.91 on the Nasdaq stock exchange Friday but jumped to a close of $11.09 after the deal was announced.

With net of cash required, 3M said it would be spending $430 million to purchase Pasadena, Calif.-based Cogent.

The deal calls for a 3M subsidiary to commence a tender offer for all...
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