MAPLEWOOD (dpa-AFX) - Diversified technology company 3M Co (MMM) on Monday said it has completed its acquisition of Capital Safety from KKR for a total enterprise value of $2.5 billion.
Capital Safety is a provider of fall protection equipment, and the deal bolsters 3M's personal safety platform.
On a GAAP reported basis, 3M estimates the Capital Safety acquisition to be $0.04 per share dilutive to 2015 earnings, all of which will be incurred in the third quarter.
3M's 2015 earnings guidance of $7.80 to $8.00 per share, announced on July 23, excluded the estimated impact from its pending acquisitions of Capital Safety and Polypore's Separations Media business at that time. The acquisition of the Polypore Separations Media business is still pending completion.
Analysts polled by Thomson Reuters expect the company to report earnings of $7.84 per share in 2015.
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