CUNO Cuno (MM)

3M, CUNO Acquisition Receives Required Regulatory Approvals ST. PAUL, Minn. and MERIDEN, Conn., July 19 /PRNewswire-FirstCall/ -- 3M Company (NYSE:MMM), and CUNO Incorporated (NASDAQ:CUNO) announced today that they have now received all the regulatory approvals required for the closing of the proposed acquisition of CUNO by 3M in an all cash transaction for $72 dollars per share. The 30-day waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 expired on June 27, and notices have been received from German, Austrian and Italian regulatory agencies approving the merger. A special meeting of CUNO's stockholders to vote on the transaction has been scheduled for August 2, 2005, with closing of the transaction expected shortly thereafter. Additional Information about the Merger and Where to Find It CUNO has filed a proxy statement and other relevant documents concerning the proposed merger with the Securities and Exchange Commission (the "SEC"). CUNO INVESTORS ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. You may obtain these documents free of charge at the website maintained by the SEC at http://www.sec.gov/. In addition, you may obtain documents filed with the SEC by CUNO free of charge by contacting CUNO's Chief Financial Officer, 400 Research Parkway, Meriden Connecticut 06450. CUNO and its directors and executive officers may be deemed to be participants in the solicitation of proxies from CUNO's stockholders in connection with the merger. Information about the directors and executive officers of CUNO and their ownership of CUNO stock is set forth in CUNO's proxy statements filed with the SEC on February 3, 2005 and July 8, 2005. Investors may obtain additional information regarding the interests of such participants by reading the proxy statement for the merger when it becomes available. Investors should read the proxy statement carefully when it becomes available before making any voting or investment decisions. Forward-Looking Statements This news release contains forward-looking information (within the meaning of the Private Securities Litigation Reform Act of 1995) about 3M's and CUNO's financial results and estimates, business prospects, and products under development that involve substantial risks and uncertainties. You can identify these statements by the use of words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Among the factors that could cause 3M's actual results to differ materially from those expressed herein are the following: (1) worldwide economic conditions; (2) foreign currency exchange rates and fluctuations in those rates; (3) the timing and acceptance of new product offerings; (4) the availability and cost of purchased components and materials, including oil- derived compounds; (5) 3M's ability to successfully integrate and obtain the anticipated synergies from acquisitions and strategic alliances (including the acquisition of CUNO); (6) generating less operating income from its corporate initiatives than estimated; and (7) legal proceedings, including the outcome of and information derived from pending Congressional action concerning asbestos-related litigation and other significant developments that could occur in the legal proceedings described in 3M's Annual Report on Form 10-K for the year ended December 31, 2004 and in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2005 (the "Reports"). Changes in such assumptions or factors could produce significantly different results. A further description of these factors is located in the Reports. The forward-looking statements with respect to CUNO are also subject to risks and uncertainties, which could cause performance or actual results to differ materially from those expressed herein. Such risks and uncertainties include, among other things: risks that the transaction with 3M will not be completed; volumes of shipments of CUNO's products; changes in product mix and product pricing; costs of raw materials; the rate of economic and industry growth in the U.S. and the other countries in which CUNO conducts business; economic and political conditions in the foreign countries in which CUNO conducts a substantial part of its operations and other risks associated with international operations including exchange rate fluctuations; CUNO's ability to protect its technology, proprietary products and manufacturing techniques; changes in technology; changes in legislative, regulatory or industrial requirements and risks generally associated with new product introductions and applications; and domestic and international competition in CUNO's global markets. The information contained in this news release is as of the date indicated. Neither 3M nor CUNO assumes any obligation to update any forward- looking statements contained in this release as a result of new information or future events or developments. About CUNO -- A Market Leading Filtration Company CUNO is a leader in the design, manufacture, and marketing of a comprehensive line of filtration products for the separation, clarification, and purification of fluids and gasses. Its proprietary products include uses in the healthcare, industrial, and drinking water markets. CUNO operates manufacturing facilities in the United States, Brazil, Mexico, France, Japan, Australia and China, and has sales offices throughout the world. About 3M -- A Global, Diversified Technology Company Every day, 3M people find new ways to make amazing things happen. Wherever they are, whatever they do, the company's customers know they can rely on 3M to help make their lives better. 3M's brands include Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command and Vikuiti. Serving customers in more than 200 countries around the world, the company's 67,000 people use their expertise, technologies and global strength to lead in major markets including consumer and office; display and graphics; electronics and telecommunications; safety, security and protection services; health care; industrial and transportation. 3M, Empore, Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command and Vikuiti are trademarks of 3M. Contact: Media Contact: 3M Donna Fleming, 651-736-7646 or CUNO Frederick C. Flynn, Jr., 203-238-8847 or Investor Contacts: 3M Mark Colin, 651-733-8206 or Bruce Jermeland, 651-733-1807 DATASOURCE: CUNO Incorporated CONTACT: Donna Fleming, Media Contact, +1-651-736-7646, or Mark Colin, Investor Contact, +1-651-733-8206, or Bruce Jermeland, Investor Contact, +1-651-733-1807, all of 3M; or Frederick C. Flynn, Jr., Media Contact of CUNO, +1-203-238-8847 Company News On-Call: http://www.prnewswire.com/comp/126696.html

Copyright