Key Takeaways

  • 3M shares jumped following a report of a settlement over claims of water pollution from "forever chemicals."
  • The more than $10 billion deal could keep 3M from facing trial in South Carolina.
  • DuPont, Chemours, and Corteva announced a similar agreement.

3M (MMM) shares jumped on a report the conglomerate has struck a tentative agreement in lawsuits over water pollution caused by so-called “forever chemicals.”

Bloomberg reported the settlement would be for at least $10 billion and could prevent the company from having to stand trial in a federal court case set to begin in South Carolina next week.

The plaintiffs sued 3M over the effects of per- and polyfluoroalkyl substances, or PFAS, known as “forever chemicals” because they take a long time to break down. 3M is the largest manufacturer of PFAS, which are used to make coatings and products that resist oil, grease, stains, water, and heat. 

On Friday, DuPont (DD) and spinoffs Chemours (CC) and Corteva (CTVA) said they agreed to a $1.185 billion PFAS settlement related to DuPont’s production of the chemicals. 

The report helped lift 3M shares for a second straight day after they hit a more than 10-year low on Wednesday. Shares of 3M were up 8.6% as of 3:30 p.m. ET on Friday. Shares of DuPont, Chemours, and Corteva also advanced.


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