3M Shareholders Get A Blockchin Spin-Off

In 2022, 3M Company will combine its food safety business with Neogen Corporation.

3M shareholders will be rewarded with a new, high-tech spin-off company that uses blockchain technology to provide food and animal safety services.

Neogen is an established business that tests animals and food for diseases or allergens. They essentially protect people from eating things that contain harmful chemicals, viruses, or bacteria.

This might not seem exciting, but it is an essential service that everyone depends on.

As I write this, Dole announced a recall of their packaged salads because the salads contain Listeria. So, there’s certainly a big market for protecting restaurant customers and supermarket shoppers from contaminated products.

While the spin-off won’t happen until sometime in the third quarter of 2022, I wanted to write this article because it highlights a major advantage to buying individual stocks: The Spin-Off.

Successful investors love spin-offs.

Peter Lynch famously said, “Spinoffs often result in astoundingly lucrative investments.”

And Mohnish Pabrai wrote that:

Too often, shareholders shrug off spinoffs and sell the spinoff…