Conglomerates Sector Review: 3M Patent Problems Resolved, Tyco Talks

United Technologies Corp. (NYSE:UTX): Goodrich (NYSE:GR) announced that, at the special meeting of shareholders held earlier, Goodrich shareholders voted to approve the proposed merger with United Technologies Corp. (NYSE:UTX). The final tabulation indicates that more than 98% of votes were cast in favor of the transaction, which represents approximately 75% of the total outstanding shares of Goodrich common stock as of February 6, the record date for the special meeting. Goodrich continues to expect the merger to be completed by mid-2012, following the satisfaction or waiver of all closing conditions.

The shares closed at $86.57, up $2.58, or 3.07%, on the day. Its market capitalization is $78.68 billion.

3M Company (NYSE:MMM): 3M announced that Zirkonzahn GmbH has licensed 3M’s patented technology that enables the coloring of zirconia-based dental restorations. The license agreement resolves a nearly two-year patent infringement lawsuit between 3M and Zirkonzahn in Dusseldorf, Germany.

The shares closed at $88.75, up $1.21, or 1.38%, on the day. Its market capitalization is $61.64 billion.

Tyco International Ltd. (NYSE:TYC): Pulmonary devices maker superDimension is in acquisition talks with Covidien (NYSE:COV), a spin-off of Tyco (NYSE:TYC), with $300M being batted around as a potential figure, according to Israeli periodical Globes.

The shares closed at $52.96, up $0.46, or 0.88%, on the day. Its market capitalization is $24.41 billion.

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To contact the reporter on this story: Stella Mariz at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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