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Britain’s Avon Rubber plc on Wednesday said it has agreed to acquire the U.S.-based ballistic protection business of 3M Corp. [MMM] for $91 million in cash, a deal that complements its respirator business and positions it in the U.S. defense market. Terms of the deal include a $25 million earn out provision based on the success of pending tenders and is expected to close in early 2020 subject to U.S. regulatory approvals. 3M’s ballistic protection business is part of the…
