The idea came from GE. GE’s announcement below. IF YOU WANT TO KNOW OUR FUTURE, LOOK AT GE’s PAST.
Old GE Announcement: “GE will spin off its healthcare division, GE Healthcare, in early 2023 as part of a larger effort to separate the nearly 130 year old industrial giant into three separate public companies. GE plans to retain a stake of 19.9% in GE Healthcare once it’s spun off.”
The problems with 3M's most senior leadership pre-date the Acelity acquisition by a LONG time.
The spin's goal is to make bankers as much money as possible before RemainCo goes Chapter 11.
Nobody at the top have any clue as to how to grow the company organically. It is always about cost cutting and other such tricks, which have proven disastrous for many American enterprises, but then who cares as soon as C suite compensations keep coming.
Money Potti's brilliant idea.
I remembered the stock price drop by $20 to $190 when they first announced the acquisition. Should have sold all the holdings then.
Looks like to cover up a bad acquisition of Acelity
Mo Spin Mo Money