3M exploring $1 bln sale of drug delivery systems unit – Bloomberg

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Dec 6 (Reuters) – Industrial conglomerate 3M Co is exploring a sale of its drug delivery systems unit, which could fetch around $1 billion, Bloomberg reported here on Friday, citing people with knowledge of the matter.

The company is currently working with an adviser to run an auction process for the business, the report said, adding that the business is likely to draw interest from private equity firms.

3M did not immediately respond to a Reuters request for comment. (Reporting by Amal S in Bengaluru; Editing by Arun Koyyur)

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