Registration No. 333-103234
Filed pursuant to Rule 424(b)(3)
Prospectus Supplement dated May 9, 2003
(To Prospectus dated May 9, 2003)
$639,000,000
3M COMPANY
LIQUID YIELD OPTION(TM) NOTES DUE 2032
(ZERO COUPON -- SENIOR)
AND SHARES OF COMMON STOCK ISSUABLE UPON CONVERSION
OF THE LIQUID YIELD OPTION(TM) NOTES
------------------------------------------
This document supplements the prospectus dated May 9, 2003 relating to
the resale by holders of Liquid Yield Option(TM) Notes due 2032 (Zero Coupon -
Senior) (the "LYONs") and the shares of our common stock into which the LYONs
are convertible.
This prospectus supplement is incorporated by reference into, and
should be read in conjunction with, the prospectus dated May 9, 2003, as amended
or supplemented. This prospectus supplement is not complete without, and may not
be delivered or utilized except in connection with, the prospectus, as amended
or supplemented.
The table of selling securityholders contained on pages 29-31 of the
prospectus dated May 9, 2003 is hereby replaced in its entirety by the table set
forth below.
SHARES OF
PRINCIPAL COMMON LYONs COMMON STOCK
AMOUNT OF STOCK COMMON OWNED OWNED
LYONS BENEFICIALLY STOCK AFTER AFTER
BENEFICIALLY OWNED UPON OFFERED UPON COMPLETION COMPLETION
OWNED AND CONVERSION CONVERSION OF OF
NAME OFFERED OF LYONs(1) OF LYONs(1) OFFERING(2) OFFERING(2)
---- ---------- ----------- ------------ ----------- -----------
Advisory Convertible Arbitrage Fund(I)L.P.(4) 1,200,000 5,676.1 5,676.1 0 -
Akela Capital Master Fund, Ltd. 5,000,000 23,650.5 23,650.5 0 -
Allstate Life Insurance Company(4) 1,250,000 5,912.6 5,912.6 0 -
Aloha Airlines Non-Pilots Pension Trust 210,000 993.3 993.3 0 -
Aloha Pilots Retirement Trust 115,000 544.0 544.0 0 -
American Investors Life Insurance Co. 100,000 473.0 473.0 0 -
Amerisure Mutual Insurance Company 320,000 1,513.6 1,513.6 0 -
AmerUs Life Insurance Co. 1,300,000 6,149.1 6,149.1 0 -
Arbitex Master Fund, L.P.(4) 19,100,000 90,344.9 90,344.9 0 -
Argent Classic Convertible Arbitrage Fund
(Bermuda) Ltd. 3,300,000 15,609.3 15,609.3 0 -
Argent Low Lev Convertible Arbitrage Fund LLC 900,000 4,257.1 4,257.1 0 -
Argent Low Lev Convertible Arbitrage Fund Ltd. 5,500,000 26,015.6 26,015.6 0 -
Arpeggio Fund(4) 7,700,000 36,421.8 36,421.8 0 -
Banc of America Securities, LLC(5) 4,438,000 20,992.2 20,992.2 0 -
Bankers Life Insurance Company of New York 100,000 473.0 473.0 0 -
C&H Sugar Company Inc. 265,000 1,253.5 1,253.5 0 -
Canyon Capital Arbitrage Master Fund, Ltd.(4) 9,000,000 42,570.9 42,570.9 0 -
Canyon Value Realization Fund (Cayman), Ltd.(4) 13,500,000 63,856.4 63,856.4 0 -
Canyon Value Realization Fund, L.P.(4) 6,000,000 28,380.6 28,380.6 0 -
Canyon Value Realization MAC 18, Ltd.(RMF)(4) 1,500,000 7,095.2 7,095.2 0 -
CitiSAM Ltd.(4) 1,000,000 4,730.1 4,730.1 0 -
Clinton Multistrategy Master Fund, Ltd. 10,000,000 47,301.0 47,301.0 0 -
Clinton Riverside Convertible Portfolio Limited 10,000,000 47,301.0 47,301.0 0 -
CSV Limited(4) 1,800,000 8,514.2 8,514.2 0 -
Deutsche Bank AG - London(4) 8,000,000 37,840.8 37,840.8 0 -
DNB Investment 500,000 2,365.1 2,365.1 0 -
Dodeca Fund, L.P. 900,000 4,257.1 4,257.1 0 -
Drury University 50,000 236.5 236.5 0 -
Excellus Health Plan Inc. 2,000,000 9,460.2 9,460.2 0 -
Goldman Sachs, & Co.(5) 7,380,000 34,908.1 34,908.1 0 -
Hawaiian Airlines Employees Pension Plan - IAM 85,000 402.1 402.1 0 -
Hawaiian Airlines Pension Plan for
Salaried Employees 15,000 71.0 71.0 0 -
Hawaiian Airlines Pilots Retirement Plan 190,000 898.7 898.7 0 -
Hillbloom Foundation 85,000 402.1 402.1 0 -
IL Annuity and Insurance Co. 11,100,000 52,504.1 52,504.1 0 -
IMF Convertible Fund(4) 800,000 3,784.1 3,784.1 0 -
Innovest Finanzdienstle 900,000 4,257.1 4,257.1 0 -
[WIDE TABLE CONTINUED FROM ABOVE]
MATERIAL
NAME RELATIONSHIP(3)
---- ---------------
Advisory Convertible Arbitrage Fund(I)L.P.(4) None
Akela Capital Master Fund, Ltd. None
Allstate Life Insurance Company(4) None
Aloha Airlines Non-Pilots Pension Trust None
Aloha Pilots Retirement Trust None
American Investors Life Insurance Co. None
Amerisure Mutual Insurance Company None
AmerUs Life Insurance Co. None
Arbitex Master Fund, L.P.(4) None
Argent Classic Convertible Arbitrage Fund
(Bermuda) Ltd. None
Argent Low Lev Convertible Arbitrage Fund LLC None
Argent Low Lev Convertible Arbitrage Fund Ltd. None
Arpeggio Fund(4) None
Banc of America Securities, LLC(5) None
Bankers Life Insurance Company of New York None
C&H Sugar Company Inc. None
Canyon Capital Arbitrage Master Fund, Ltd.(4) None
Canyon Value Realization Fund (Cayman), Ltd.(4) None
Canyon Value Realization Fund, L.P.(4) None
Canyon Value Realization MAC 18, Ltd.(RMF)(4) None
CitiSAM Ltd.(4) None
Clinton Multistrategy Master Fund, Ltd. None
Clinton Riverside Convertible Portfolio Limited None
CSV Limited(4) None
Deutsche Bank AG - London(4) None
DNB Investment None
Dodeca Fund, L.P. None
Drury University None
Excellus Health Plan Inc. None
Goldman Sachs, & Co.(5) None
Hawaiian Airlines Employees Pension Plan - IAM None
Hawaiian Airlines Pension Plan for
Salaried Employees None
Hawaiian Airlines Pilots Retirement Plan None
Hillbloom Foundation None
IL Annuity and Insurance Co. None
IMF Convertible Fund(4) None
Innovest Finanzdienstle None
Investcorp - SAM Fund Ltd.(4) 4,400,000 20,812.4 20,812.4 0 -
JMG Convertible Investments, LP 7,250,000 34,293.2 34,293.2 0 -
Lehman Brothers Inc(5) 45,650,000 215,929.1 215,929.1 0 -
Lyxor Master Fund (4) 5,000,000 23,650.5 23,650.5 0 -
Lyxor Master Fund Ref: Argent LowLev CB
c/o Argent 1,200,000 5,676.1 5,676.1 0 -
McMahan Securities Co. L.P.(5) 1,500,000 7,095.2 7,095.2 0 -
Med America Insurance Co. 2,430,000 11,494.1 11,494.1 0 -
Med America Insurance Co. of N.Y. 340,000 1,608.2 1,608.2 0 -
Merrill Lynch Pierce Fenner & Smith Inc.(5) 9,039,000 42,755.4 42,755.4 0 -
MLQA Convertible Securities Arbitrage, Ltd.(4) 10,000,000 47,301.0 47,301.0 0 -
Morgan Stanley Dean Witter Convertible
Securities Trust(4) 3,000,000 14,190.3 14,190.3 0 -
NACM Investment Grade Convertible 10,000 47.3 47.3 0 -
Nomura Securities Intl Inc(5) 5,000,000 23,650.5 23,650.5 0 -
Partners Group Alternative Strategies PCC, Ltd. 200,000 946.0 946.0 0 -
Quest Global Convertible Master Fund, Ltd. 2,000,000 9,460.2 9,460.2 0 -
RBC Alternative Assets LP(4) 200,000 946.0 946.0 0 -
Rhapsody Fund, L.P.(4) 10,000,000 47,301.0 47,301.0 0 -
State of Oregon/SAIF Corporation 6,500,000 30,745.7 30,745.7 0 -
Sunrise Partners Limited Partnership(4) 1,000,000 4,730.1 4,730.1 0 -
Sutton Brook Capital Portfolio LP 35,000,000 165,553.5 165,553.5 0 -
Teachers Insurance and Annuity Association 10,000,000 47,301.0 47,301.0 0 -
Thrivent Financial for Lutherans(4) 1,500,000 7,095.2 7,095.2 0 -
Topanga XI(4) 2,000,000 9,460.2 9,460.2 0 -
US Bank FBO Benedictine Health System 350,000 1,655.5 1,655.5 0 -
Wachovia Securities International Ltd.(4) 20,000,000 94,602.0 94,602.0 0 -
Windmill Master Fund LP 5,000,000 23,650.5 23,650.5 0 -
Xavex Convertible Arbitrage 2 Fund 200,000 946.0 946.0 0 -
Other(6) 314,628,000 1,488,221.9 1,488,221.9 0 -
[WIDE TABLE CONTINUED FROM ABOVE
Investcorp - SAM Fund Ltd.(4)
JMG Convertible Investments, LP None
Lehman Brothers Inc(5) None
Lyxor Master Fund (4) None
Lyxor Master Fund Ref: Argent LowLev CB None
c/o Argent
McMahan Securities Co. L.P.(5) None
Med America Insurance Co. None
Med America Insurance Co. of N.Y. None
Merrill Lynch Pierce Fenner & Smith Inc.(5) None
Aulana Peters is a
director of Merrill
Lynch & Co and has
been a director of 3M
since 1990. Further,
Merrill Lynch Pierce
Fenner & Smith may or
may not have acted in
a financial
investment advisory
capacity to 3M within
the past 3 years.
MLQA Convertible Securities Arbitrage, Ltd.(4) None
Morgan Stanley Dean Witter Convertible
Securities Trust(4) None
NACM Investment Grade Convertible None
Nomura Securities Intl Inc(5) None
Partners Group Alternative Strategies PCC, Ltd. None
Quest Global Convertible Master Fund, Ltd. None
RBC Alternative Assets LP(4) None
Rhapsody Fund, L.P.(4) None
State of Oregon/SAIF Corporation None
Sunrise Partners Limited Partnership(4) None
Sutton Brook Capital Portfolio LP None
Teachers Insurance and Annuity Association None
Thrivent Financial for Lutherans(4) None
Topanga XI(4) None
US Bank FBO Benedictine Health System None
Wachovia Securities International Ltd.(4) None
Windmill Master Fund LP None
Xavex Convertible Arbitrage 2 Fund None
Other(6)
(1) Represents shares of common stock issuable upon conversion of LYONs, at the
rate of 4.7301 shares of common stock per $1,000 principal amount of
maturity of LYONs, that would be beneficially owned and offered by the
selling security holder upon such conversion. This conversion rate is
subject to adjustment, however, as described under "Description of
LYONs--Conversion Rights--Conversion Adjustments and Delivery of Common
Stock." As a result, the number of shares of common stock issuable upon
conversion of the LYONs may increase or decrease in the future. 3M has the
right to deliver, in lieu of common stock, cash upon conversion, as
described in this Prospectus.
(2) Assumes that all the LYONs and/or all of the common stock into which the
LYONs are convertible are sold. No selling security holder will own more
than 1% of the common stock after the offering by the selling stockholder.
(3) Includes any position, office or other material relationship which the
selling security holder has had within the past three years with 3M or any
of its affiliates.
(4) This selling securityholder has represented to 3M that, although it is
affiliated with a securities broker or dealer, the selling securityholder
purchased the securities shown in the ordinary course of business, and at
the time of the purchase of the securities, the selling securityholder had
no agreements or understandings, directly or indirectly, with any person to
distribute the securities.
(5) This selling securityholder has identified itself as a securities broker or
dealer, and accordingly it is deemed to be an "underwriter" within the
meaning of Section 2(a)(11) of the Securities Act.
(6) Assumes that none of the holders of LYONs who have not yet returned their
questionnaire beneficially own any other shares of our common stock. Other
selling securityholders may be identified at a later date and will be
included in a post-effective amendment to the registration statement. To
the extent that they are brokers or dealers, disclosure will be made that
they are deemed to be "underwriters" within the meaning of Section 2(a)(11)
of the Securities Act.
See the "Risk Factors" section beginning on page 7 of the prospectus to
read about factors you should consider before purchasing the LYONs.
Neither the Securities and Exchange Commission nor any state securities
commission has approved or disapproved of these securities or passed upon the
adequacy or accuracy of this prospectus. Any representation to the contrary is a
criminal offense.
The date of this prospectus supplement is May 9, 2003
(TM) Trademark of Merrill Lynch & Co., Inc.