3M Selling Communication Markets Division to Corning for $900 Million

Cleary Gottlieb is advising 3M on the sale, announced December 11, 2017, of its Communication Markets Division to Corning Incorporated for $900 million, subject to closing and other adjustments.

This business consists of optical fiber and copper passive connectivity solutions for the telecommunications industry including 3M’s xDSL, FTTx, and structured cabling solutions and, in certain countries, telecommunications system integration services. This business has annual global sales of approximately $400 million.