3M falls after $1.95 billion Madison Fire & Rescue deal with Bain Capital

Industrial giant 3M MMM.N down nearly 1% at about $145 premarket

3M and Bain Capital will buy Madison Fire & Rescue from privately held Madison Industries for $1.95 billion

Under the deal, the buyers will form a new fire and safety joint venture, with 3M owning 50.1% and Bain Capital 49.9%

The transaction is expected to be completed in the second half of 2026

As of last close, stock had fallen 9.4% YTD