<SEC-DOCUMENT>0001140361-22-022409.txt : 20220819
<SEC-HEADER>0001140361-22-022409.hdr.sgml : 20220819
<ACCEPTANCE-DATETIME>20220609060456
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001140361-22-022409
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20220609

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NEOGEN CORP
		CENTRAL INDEX KEY:			0000711377
		STANDARD INDUSTRIAL CLASSIFICATION:	IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES [2835]
		IRS NUMBER:				382367843
		STATE OF INCORPORATION:			MI
		FISCAL YEAR END:			0531

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		620 LESHER PLACE
		CITY:			LANSING
		STATE:			MI
		ZIP:			48912
		BUSINESS PHONE:		5173729200

	MAIL ADDRESS:	
		STREET 1:		620 LESHER PLACE
		CITY:			LANSING
		STATE:			MI
		ZIP:			48912
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
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          <td style="width: 100%; vertical-align: top; text-align: right;">&#160;<img src="ny20004078x8_image01.jpg"></td>
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            <div>&#160;</div>
            <div>&#160;</div>
            <div style="text-align: right; color: #000000;">767 Fifth Avenue</div>
            <div style="text-align: right; color: #000000;">New York, NY 10153-0119</div>
            <div style="text-align: right; color: #000000;">+1 212 310 8000 tel</div>
            <div style="text-align: right; color: #000000;">+1 212 310 8007 fax</div>
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    <div style="text-align: right; color: #000000;">June 9, 2022</div>
    <div style="color: #000000;"><u>Via EDGAR</u></div>
    <div><br>
    </div>
    <div style="color: #000000;">Abby Adams</div>
    <div style="color: #000000;">Christine Westbrook</div>
    <div style="color: #000000;">Division of Corporation Finance</div>
    <div style="color: #000000;">Office of Life Sciences</div>
    <div style="color: #000000;">U.S. Securities and Exchange Commission</div>
    <div style="color: #000000;">100 F Street, NE</div>
    <div style="color: #000000;">Washington, D.C.&#160; 20549</div>
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          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">Re:</td>
          <td style="width: auto; vertical-align: top;">
            <div style="color: #000000;"><font style="font-weight: bold;">Neogen Corporation</font><br>
              <font style="font-weight: bold;">Revised Preliminary Proxy Statement on Schedule 14A</font><br>
              <font style="font-weight: bold;">Filed on May 6, 2022</font><br>
              <font style="font-weight: bold;">File No. 000-17988</font></div>
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    <div style="color: #000000;">Dear Ms. Adams and Ms. Westbrook:</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; color: #000000;">In response to the comments of the Staff of the Division of Corporation Finance (the &#8220;<u>Staff</u>&#8221;) that were set forth in your letter dated May 27, 2022, regarding Amendment No. 1 to the preliminary
      proxy statement on Schedule 14A (&#8220;<u>Amendment No. 1</u>&#8221;) of Neogen Corporation (the &#8220;<u>Company</u>&#8221;) filed with the Securities and Exchange Commission on May 6, 2022, the Company is today filing Amendment No. 2 to the Proxy Statement (&#8220;<u>Amendment




        No. 2</u>&#8221;). On behalf of our client, we respectfully advise the Staff that, to the extent applicable to the Proxy Statement, the Company has revised Amendment No. 2 in light of the comments of the Staff set forth in its letter dated May 27, 2022
      regarding the related Amendment No. 1 to Registration Statement on Form S-4 (Reg. No. 333-263667) filed by the Company on May 4, 2022.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; color: #000000;">For the convenience of the Staff, set forth below are each of the comments of the Staff from its letters dated April 18, 2022 (the &#8220;<u>April 18 Letter</u>&#8221;) and May 27, 2022 (the &#8220;<u>May 27 Letter</u>&#8221;)
      on the Company&#8217;s related Registration Statement on Form S-4 (as amended, the &#8220;<u>Registration Statement</u>&#8221;), followed by the Company&#8217;s response indicating where the Company has previously revised the Proxy Statement in response to the Staff&#8217;s
      comment or has revised the disclosure in Amendment No. 2, or otherwise explaining why no corresponding revision was required to the Proxy Statement.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;"><font style="color: #000000;"> </font><br>
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    <div style="color: #000000; font-weight: bold;"><u>Cover Page</u></div>
    <div><br>
    </div>
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          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">1.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000; font-weight: bold;">Please revise the cover page to disclose the SpinCo Cash Payment, as disclosed in the Q&amp;A on page 15.</div>
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    <div style="text-align: justify; color: #000000;"><u>Response</u>:&#160; The Company respectfully advises the Staff that there is no corresponding section in the Proxy Statement to the prospectus cover page referenced in the Staff&#8217;s comment on the
      Registration Statement, and that the SpinCo Cash Payment is disclosed in relevant sections of the Proxy Statement, including the Q&amp;A, Summary and Transactions sections. In order to further address the Staff&#8217;s comment, the Company has revised its
      disclosure in the letter to the Company&#8217;s shareholders and on page 8 of Amendment No. 2.</div>
    <div><br>
    </div>
    <div style="color: #000000; font-weight: bold;"><u>Questions and Answers About the Exchange Offer and the Transactions, page 5</u></div>
    <div><br>
    </div>
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          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">2.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000; font-weight: bold;">Revise to prominently disclose that the contemplated Separation, Distribution and Merger of the Food Safety Business is structured as a Reverse Morris Trust transaction and that this structure is
              intended to result in a tax-efficient disposition of the Food Safety Business for 3M and 3M stockholders. Describe what a reverse Morris Trust transaction is and briefly discuss why the parties chose this structure.</div>
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    <div><br>
    </div>
    <div style="text-align: justify; color: #000000;"><u>Response</u>:&#160; The Company respectfully advises the Staff that the Company previously made corresponding updates to its disclosure on page 7 of Amendment No. 1. In response to the Staff&#8217;s comment,
      the Company has further revised its disclosure on pages 6-7 of Amendment No. 2.</div>
    <div><br>
    </div>
    <div style="color: #000000; font-weight: bold;"><u>Summary, page 19</u></div>
    <div><br>
    </div>
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          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">3.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000; font-weight: bold;">Revise to clarify that you have summarized all material conditions to the exchange offer and merger in the summary. For example, briefly describe the &#8220;other customary conditions,&#8221; or clarify that
              they are not material.</div>
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    </table>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000;"><u>Response</u>:&#160; The Company respectfully advises the Staff that, unlike the prospectus included in the Registration Statement, which mirrors the prospectus included in the Registration Statement of
      Garden SpinCo related to the exchange offer, the specific conditions to any exchange offer are not applicable to the Proxy Statement, which relates to the vote of the Company&#8217;s shareholders on the issuance of shares of the Company&#8217;s common stock in
      connection with the Merger and certain amendments to the Company&#8217;s organizational documents that are being proposed in connection with the Transactions. The Company also refers the Staff to the discussion of the exchange offer in the section entitled
      &#8220;Information About 3M&#8217;s Distribution of Garden SpinCo Common Stock.&#8221;</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000;">In response to the Staff&#8217;s comment, the Company has revised its disclosure on pages 17-18 of Amendment No. 2 to include a summary of the conditions to the Merger.</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3b7443d5674f44bbb404512a6de78915" cellpadding="0" cellspacing="0">

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          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">4.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000; font-weight: bold;">We note your disclosure on page 31 that the consummation of the Merger is conditioned upon the IRS Ruling continuing to be valid and in full force and effect, as well as the receipt by 3M and
              Neogen of opinions from Wachtell Lipton and Weil, respectively. Please clarify here and elsewhere, as appropriate, the conditions to the merger that may be waived. We note your disclosure on page 20 that 3M may waive any of the conditions of
              the exchange offer. Revise to highlight the material consequences of the waiver of any of the tax opinions or tax rulings and provide a cross-reference to a discussion of the consequences of these waivers in an appropriate section of the
              registration statement.</div>
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    <div style="text-align: justify;"><font style="color: #000000;"><u>Response</u>:&#160; </font>The Company respectfully advises the Staff that the Company previously made corresponding revisions to its disclosure on pages 139 and 140 of Amendment No. 1 to
      reflect that the conditions to the Merger may only be waived to the extent permitted by law. The Company otherwise refers the Staff to (i) the Company&#8217;s response to Comment No. 4 included in its letter dated May 4, 2022 filed in connection with <font style="color: #000000;">Amendment No. 1 to the Registration Statement (the &#8220;<u>Response Letter</u>&#8221;) and (ii) response to Comment No. 3 above with respect to disclosure relating to the conditions to the exchange offer.</font></div>
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          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">5.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000;"><font style="font-weight: bold;">Please include a summary of the Food Safety Business. Include in your revisions that the Food Safety Business has historically operated as part of 3M&#8217;s Healthcare Business Group, as
                referenced on page 104. </font>(<font style="font-style: italic;">April 18 Letter</font>)</div>
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    <div style="text-align: justify; text-indent: 0pt; color: #000000;"><font style="font-weight: bold;">We note the added disclosure in response to comment 5. Please expand the brief summary of the food safety business to provide additional detail about
        the type of products falling under the &#8220;food safety solution&#8221; umbrella. </font>(<font style="font-style: italic;">May 27 Letter, Comment 1</font>)</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000;"><u>Response</u>:&#160; The Company respectfully advises the Staff that the Company previously revised its disclosure on page 15 of Amendment No. 1 in response to Comment 5 included in the April 18 Letter.
      The Company has further revised its disclosure on page 15 of Amendment No. 2 in response to Comment 1 included in the May 27 Letter.</div>
    <div><br>
    </div>
    <div style="color: #000000; font-weight: bold;"><u>Interest of Certain Persons in the Transactions, page 29</u></div>
    <div><br>
    </div>
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          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">6.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000; font-weight: bold;">Please revise to clarify what interests the officers and directors of the various involved entities may have in the transactions or benefits they may receive from the transactions that differ from
              those of 3M or Neogen shareholders generally.</div>
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    </div>
    <div style="color: #000000;"><u>Response</u>:&#160; The Company respectfully advises the Staff that the Company previously made corresponding revisions to its disclosure on page 117 of Amendment No. 1. However, in order to further address the Staff&#8217;s
      comment, the Company has further revised its disclosure on pages 18-19 of Amendment No. 2 to include a corresponding summary description of the interests of the directors and executive officers of the Company, 3M and Garden SpinCo in the
      Transactions.</div>
    <div><br>
    </div>
    <div style="color: #000000; font-weight: bold;"><u>Debt Financing Arrangements, page 31</u></div>
    <div><br>
    </div>
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          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">7.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000; font-weight: bold;">Please clarify if the terms of the Permanent Financing will become known prior to the time Neogen shareholders are asked to approve the Share Issuance Proposal.</div>
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    <div><br>
    </div>
    <div style="color: #000000;"><u>Response</u>:&#160; The Company respectfully advises the Staff that the Company previously made corresponding revisions to its disclosure on page 161 of Amendment No. 1. In order to further address the Staff&#8217;s comment, the
      Company has revised its disclosure on page 19 of Amendment No. 2 to include a corresponding summary description of the debt financing arrangements that are contemplated in connection with the Transactions.</div>
    <div><br>
    </div>
    <div style="color: #000000; font-weight: bold;"><u>Summary Risk Factors, page 31</u></div>
    <div><br>
    </div>
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          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">8.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000;"><font style="font-weight: bold;">Revise the Summary Risk Factors to more specifically explain the risks to Neogen of the limited resources transferred pursuant to the agreements with 3M and Neogen&#8217;s reliance on
                transition services, as outlined in the risk factors beginning on page 57 and discussed on page 84. </font>(<font style="font-style: italic;">April 18 Letter</font>)</div>
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    </table>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 0pt; color: #000000;"><font style="font-weight: bold;">We reissue comment 8. Please revise the summary risk factor to briefly explain the risks associated with the fact that Neogen is acquiring a &#8220;global
        leading company,&#8221; but only acquiring a subset of the resources that are currently used to run those aspects of the company, pursuant to transition agreements that have not been finalized and may not provide ongoing robust support, as outlined in
        the risk factors now on pages 61-62. </font>(<font style="font-style: italic;">May 27 Letter, Comment 2</font>)</div>
    <div><br>
    </div>
    <div style="color: #000000;"><u>Response</u>:&#160; The Company respectfully acknowledges the Staff&#8217;s comment. The Company notes that the Staff&#8217;s comment relates to the summary risk factor section included in the Registration Statement as required by Item
      105 to Regulation S-K. Schedule 14A does not require disclosure under Item 105 of Regulation S-K and so there is no corresponding risk factor summary included in the Proxy Statement and there were no corresponding revisions required to the Proxy
      Statement in response to the Staff&#8217;s comment.</div>
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    <div style="color: #000000; font-weight: bold;"><u>Risk Factors</u></div>
    <div><br>
    </div>
    <div style="color: #000000; font-weight: bold;"><u>Risks Related to the Combined Company's Business Following the Transactions</u></div>
    <div><br>
    </div>
    <div style="color: #000000; font-weight: bold;"><u>The combined company will be subject risks relating to international operations..., page 52</u></div>
    <div><br>
    </div>
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          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">9.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000; font-weight: bold;">We note your disclosure that Neogen has discontinued sales into Russia. To the extent material, please describe with greater specificity the current and anticipated impact of the ongoing conflict
              in Ukraine on your business, including giving consideration to availability of materials, cost of materials, costs and risks associated with your supply chain, impact on margins and on your customers. Additionally, please place your
              discussion of foreign currency risk on page 54 in appropriate context with reference to foreign currencies in which material operations are transacted and/or denominated.</div>
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    </div>
    <div><font style="color: #000000;"><u>Response</u>:&#160; </font>The Company respectfully advises the Staff that it previously made corresponding revisions to its disclosure on page 35 of Amendment No. 1. We also refer the Staff to the Response Letter for
      the Company&#8217;s prior response to Comment No. 9 included in the April 18 Letter<font style="color: #000000;">.</font></div>
    <div><br>
    </div>
    <div style="color: #000000; font-weight: bold;"><u>Information about the Food Safety Business</u></div>
    <div><br>
    </div>
    <div style="color: #000000; font-weight: bold;"><u>Competition, page 82</u></div>
    <div><br>
    </div>
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          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">10.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000; font-weight: bold;">Revise to provide disclosure regarding the Food Safety Business's competitive conditions that are material to an understanding of its business. Refer to Item 101(c)(1)(ii) of Regulation S-K and
              Section II.B.2.b. of Securities Act Release No. 10825 (Oct. 8, 2020), &#8220;Modernization of Regulation S-K Items 101, 103 and 105.&#8221;</div>
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    <div><br>
    </div>
    <div><font style="color: #000000;"><u>Response</u>:&#160; </font>The Company respectfully advises the Staff that it previously made corresponding revisions to its disclosure on pages 53 and 54 of Amendment No. 1.</div>
    <div><br>
    </div>
    <div style="color: #000000; font-weight: bold;"><u>Intellectual Property, page 82</u></div>
    <div><br>
    </div>
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          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">11.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000;"><font style="font-weight: bold;">Please revise your intellectual property disclosure to clearly describe on an individual or patent family basis the type of patent protection granted for each product or product
                line, the expiration year of each patent held, and the jurisdiction of each patent. Please clearly distinguish between owned patents and licensed patents. In this regard it may be useful to provide tabular disclosure. </font>(<font style="font-style: italic;">April 18 Letter</font>)</div>
          </td>
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    </table>
    <div><br>
    </div>
    <div style="color: #000000;"><font style="font-weight: bold;">We reissue comment 11. Our comment allowed for disclosure on a patent-family basis, rather than for individual patents. Please revise to provide the information in table form by patent
        family, as the pie graphs do not adequately show, for example, which product categories are covered by issued or pending patents and in which jurisdiction(s) and related expiry. </font>(<font style="font-style: italic;">May 27 Letter, Comment 3</font>)</div>
    <div>&#160;</div>
    <div><font style="color: #000000;"><u>Response</u>:&#160; </font>The Company respectfully advises the Staff that it previously made corresponding revisions to its disclosure in response to Comment No. 11 included in the April 18 Letter on pages 54 and 55
      of Amendment No. 1. In response to Comment No. 3 included in the May 27 Letter, the Company has further updated its disclosure on pages 64-67 of Amendment No. 2.</div>
    <div><br>
    </div>
    <div style="color: #000000; font-weight: bold;"><u>Working Capital, page 82</u></div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z507c8956336b4a3fa4fb2fca0c5bf2db" cellpadding="0" cellspacing="0">

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          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">12.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000;"><font style="font-weight: bold;">You state, &#8220;the Food Safety Business&#8217;s high margin, supported by strong recurring revenue of consumables, generates sufficient cash flow from operations to support its business
                needs.&#8221; Clarify this disclosure in light of any known trends or other events that are reasonably likely to cause a material change in the relationship between costs and revenues, including the contemplated transactions. Similarly, please
                expand your discussion on page 106 to explain your material Research and Development activities. Refer to Item 303(b)(2)(i) and (ii) of Regulation S-K. </font>(<font style="font-style: italic;">April 18 Letter</font>)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 0pt; color: #000000;"><font style="font-weight: bold;">We note your revised disclosure in response to comment 14. Further revise the discussion of research and development expenses here to provide
        meaningful disclosure regarding the changes from 2020 to 2021. Revise the references to &#8220;customer-facing application engineers,&#8221; &#8220;disruptive automation technologies enabling integrated solutions&#8221; and the generic description &#8220;integrated solutions
        still under development&#8221; to provide context or further explanation. </font>(<font style="font-style: italic;">May 27 Letter, Comment 10</font>)</div>
    <div><br>
    </div>
    <div><font style="color: #000000;"><u>Response</u>:&#160; </font>The Company respectfully advises the Staff that it previously made corresponding revisions to its disclosure on pages 54 and 60 of Amendment No. 1. In response to Comment No. 10 included in
      the May 27 Letter, the Company has further updated its disclosure on page 72 of Amendment No. 2.</div>
    <div><br>
    </div>
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    <div style="color: #000000; font-weight: bold;"><u>Environmental and Regulatory Considerations, page 83</u></div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6dad5645154140ee90c6b88328840038" cellpadding="0" cellspacing="0">

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          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">13.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000;"><font style="font-weight: bold;">Please revise to include a description of governmental regulations applicable to your business, including the material provisions of each regulation you briefly mention in this
                section. To the extent applicable, please disclose the effects of the Food and Drug Administration regulations on your business, including any requirement for FDA approval of your products. </font>(<font style="font-style: italic;">April
                18 Letter</font>)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 0pt; color: #000000;"><font style="font-weight: bold;">We reissue comment 13. Please expand this section to describe the material governmental regulations governing the food safety business. Refer to Item
        101(c)(2)(i) of Regulation S-K. </font>(<font style="font-style: italic;">May 27 Letter, Comment 4</font>)</div>
    <div><br>
    </div>
    <div><font style="color: #000000;"><u>Response</u>:&#160; </font>The Company respectfully advises the Staff that it previously made corresponding revisions to its disclosure on page 56 of Amendment No. 1<font style="color: #000000;">. </font>In response
      to Comment No. 3 included in the May 27 Letter, the Company has further updated its disclosure on pages 67-68 of Amendment No. 2.</div>
    <div><br>
    </div>
    <div style="color: #000000; font-weight: bold;"><u>Human Capital, page 83</u></div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z41a489523c6f43f782b1cc256e7b3a10" cellpadding="0" cellspacing="0">

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          </td>
          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">14.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000; font-weight: bold;">Clarify whether all of the 470 Food Safety Business employees will be employed by Neogen after the separation and merger transactions are complete, including the impact of any transition periods
              following the merger. For example, in the next section, you discuss that the Food Safety Business uses several 3M sites around the world that will not transfer as part of the transaction, and that 3M has agreed to provide transition services.
              In this section, it appears you have not addressed the impact of the merger. Please revise or advise.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><font style="color: #000000;"><u>Response</u>:&#160; </font>The Company respectfully advises the Staff that it previously made corresponding revisions to its disclosure on page 56 of Amendment No. 1<font style="color: #000000;">.</font></div>
    <div><br>
    </div>
    <div style="color: #000000; font-weight: bold;"><u>Unaudited Pro Forma Condensed Combined Financial Information Of Neogen and The Food Safety Business, page 86</u></div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z30b628a4c2fd42998b33117df9e6242f" cellpadding="0" cellspacing="0">

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          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">15.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000;"><font style="font-weight: bold;">Disclose here that the contemplated Separation, Distribution and Merger transactions are structured as a Reverse Morris Trust transaction. In Note 1 to the pro forma financial
                statements, further explain what a Reverse Morris Trust transaction is and describe the tax consequences and their impact, if any, to the pro forma financial statements. </font>(<font style="font-style: italic;">April 18 Letter</font>)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><font style="color: #000000;"><u>Response</u>:&#160; </font>The Company respectfully advises the Staff that it previously made corresponding revisions to its disclosure on pages 66 and 71&#8212;72 of Amendment No. 1 and otherwise refers the Staff to the
      Company&#8217;s prior response to Comment No. 15 included in the Response Letter<font style="color: #000000;">.</font></div>
    <div><br>
    </div>
    <div style="color: #000000;"><font style="font-weight: bold;">We note on page 228 that 3M's Quarterly Report on Form 10-Q filed with the SEC on April 26, 2022 has been incorporated by reference. Accordingly, please update your filing to include the
        combined financial statements for the Food Safety Business as of March 31, 2022 or tell us your basis for not providing these financial statements citing authoritative literature. In addition, please update your Pro Forma Financial Statements to
        include the historical financial information for the Food Safety Business as of March 31, 2022, or tell us your basis as to why an update is not required. Refer to Article 11-02(c) of Regulation S-X. </font>(<font style="font-style: italic;">May
        27 Letter, Comment 5</font>)</div>
    <div><br>
    </div>
    <div style="color: #000000;"><u>Response</u>:&#160;&#160; The Company confirms that Amendment No. 2 has been updated to include the combined financial statements for the Food Safety Business as of March 31, 2022, and that the Company has made corresponding
      updates to the pro forma financial information.</div>
    <div><br>
    </div>
    <div style="color: #000000;"><font style="font-weight: bold;">You disclose on page 118 that on or around the effective time of the Merger, 3M and Neogen will complete the sale of certain assets and liabilities of the Food Safety Business directly from
        certain subsidiaries of 3M to certain subsidiaries of Neogen for cash in lieu of such assets and liabilities being transferred to Garden SpinCo in connection with the Contribution. Please more fully describe what these certain assets and
        liabilities are and what relationship they have with the Food Safety Business as it was historically managed and operated. Also, tell us whether these assets and liabilities are included in the historical financial statements of the Food Safety
        Business and the reasons why or why not and how, if at all, they are depicted in the pro forma financial information. </font>(<font style="font-style: italic;">May 27 Letter, Comment 6</font>)</div>
    <div><br>
    </div>
    <div><font style="color: #000000;"><u>Response</u>:&#160; </font>The Company has revised its disclosure on pages 101, 155 and 162 of Amendment No. 2<font style="color: #000000;">. The Company also respectfully refers the Staff to the response provided by
        the Company to Comment 6 included in the May 27 Letter, which is being filed in connection with Amendment No. 2 to the Registration Statement (the &#8220;<u>May 27 Response Letter</u>&#8221;).</font></div>
    <div><br>
    </div>
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    <div style="color: #000000;"><font style="font-weight: bold;">In order to help us further evaluate your pro forma financial information, please analyze for us whether the transition arrangements described beginning on page 194 and the other four
        agreements described beginning on page 193 are required to be given pro forma effect pursuant to Rule 11-01 of Regulation S-X. In your response, please clarify how that pro forma effect would be computed. </font>(<font style="font-style: italic;">May




        27 Letter, Comment 7</font>)</div>
    <div><br>
    </div>
    <div><font style="color: #000000;"><u>Response</u>:&#160; </font>The Company <font style="color: #000000;">respectfully refers the Staff to its response to Comment No. 6 in the May 27 Response Letter.</font></div>
    <div><br>
    </div>
    <div style="color: #000000; font-weight: bold;"><u>Notes To The Unaudited Pro Forma Condensed Combined Financial Information</u></div>
    <div><br>
    </div>
    <div style="margin-left: 9pt; color: #000000; font-weight: bold;"><u>1) Description of Transactions, page 87</u></div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z79b5f1e3632f4a3ebf1f476b1e5627f1" cellpadding="0" cellspacing="0">

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          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">16.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000; font-weight: bold;">As discussed in the explanatory note, 3M will determine whether the shares of Garden SpinCo common stock will be distributed to 3M stockholders in a pro rata distribution or an exchange offer. You
              disclose that currently an exchange offer (split-off) is assumed. Revise your disclosure here as well as your Accounting Treatment section on page 142 to explain the accounting treatment for other scenarios, such as by pro rata distribution,
              as well as the potential Clean-Up Spin-Off scenario. In addition, disclose the potential impact of the various scenarios contemplated on your pro forma presentation.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><font style="color: #000000;"><u>Response</u>:&#160; </font>The Company respectfully advises the Staff that it previously made corresponding revisions to its disclosure on pages 71&#8212;72 and on page 119 of Amendment No. 1<font style="color: #000000;">.</font></div>
    <div><br>
    </div>
    <div style="margin-left: 9pt; color: #000000; font-weight: bold;"><u>2) Basis of Presentation, page 91</u></div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd6e5e482835c447998e8d5ab871f4624" cellpadding="0" cellspacing="0">

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          </td>
          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">17.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000; font-weight: bold;">You noted that no Autonomous Entity Adjustments have been made to the pro forma presentation as you are unable to estimate the additional costs based on information received to date. However, at
              closing, you will enter into the Transition Arrangements with 3M and Garden SpinCo, pursuant to which various categories of services will be provided to the Food Safety Business. Please tell us the extent you expect to include these
              Autonomous Entity Adjustments prior to effectiveness.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><font style="color: #000000;"><u>Response</u>:&#160; </font>The Company respectfully advises the Staff that it previously made corresponding revisions to its disclosure on pages 73 and 82 of Amendment No. 1. We also refer the Staff to the Company&#8217;s
      prior response to Comment No. 11 in <font style="color: #000000;">the Response Letter.</font></div>
    <div><br>
    </div>
    <div style="color: #000000; font-weight: bold;"><u>Management's Discussion and Analysis of Financial Condition and Results of Operations of the Food Safety Business, page 104</u></div>
    <div><br>
    </div>
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          </td>
          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">18.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000;"><font style="font-weight: bold;">We note your disclosure on page 50 that COVID-19 has resulted in raw material price inflation as well as supply chain constraints and disruptions. Please revise to discuss whether
                increased costs of raw materials and/or supply chain disruptions materially affect your outlook or business goals. Specify whether these challenges have materially impacted your results of operations or capital resources and quantify, to
                the extent possible, how your sales, profits, and/or liquidity have been impacted. </font>(<font style="font-style: italic;">April 18 Letter</font>)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 0pt; color: #000000;"><font style="font-weight: bold;">We note the response to comment 18 and the revised disclosure concerning the impact of the pandemic, inflation, and other factors as of December 31,
        2021. We reissue the comment. We note, for example, that the Food Safety Business has reported financial information for the period ended March 31, 2022. Revise to update this information. </font>(<font style="font-style: italic;">May 27 Letter,
        Comment 8</font>)</div>
    <div><br>
    </div>
    <div><font style="color: #000000;"><u>Response</u>:&#160; </font>The Company respectfully advises the Staff that it previously made corresponding revisions to its disclosure on pages 59 and 61 of Amendment No. 1<font style="color: #000000;">. </font>In
      response to Comment No. 8 included in the May 27 Letter, the Company has further updated its disclosure on pages 70-76 of Amendment No. 2.</div>
    <div><br>
    </div>
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          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">19.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000;"><font style="font-weight: bold;">We note your disclosure on page 58 that Neogen will be reliant on 3M for a period to manufacture and distribute most of the Food Safety Business&#8217; products. Please discuss Neogen's
                estimated costs and timeline to establish alternative manufacturing capacity. </font>(<font style="font-style: italic;">April 18 Letter</font>)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 0pt; color: #000000;"><font style="font-weight: bold;">We note the response to comment 19 and the revised disclosure in the risk factor on page 62. Provide this added disclosure in the Summary, where you
        address Information About the Food Safety Business, and in the Summary Risk Factors. </font>(<font style="font-style: italic;">May 27 Letter, Comment 9</font>)</div>
    <div><br>
    </div>
    <div><font style="color: #000000;"><u>Response</u>:&#160; </font>The Company respectfully acknowledges the Staff&#8217;s comment and previously updated its disclosure on page 39 of Amendment No. 1. In response to Comment No. 9 included in the May 27 Letter, the
      Company has further revised its disclosure on page 15 of Amendment No. 2.</div>
    <div><br>
    </div>
    <div style="color: #000000; font-weight: bold;"><u>The Transactions</u></div>
    <div><br>
    </div>
    <div style="color: #000000; font-weight: bold;"><u>Background of the Transactions, page 113</u></div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z09ce01fb6ce84cec8b8308a753a960d1" cellpadding="0" cellspacing="0">

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          </td>
          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">20.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000; font-weight: bold;">Please provide us copies of the board books and any other materials, including presentations made by the financial advisor, provided to the Neogen board or management in connection with the
              proposed transactions.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><font style="color: #000000;"><u>Response</u>:&#160; </font>We refer the Staff to the materials previously provided by the Company in response to Comment No. 20 in <font style="color: #000000;">the Response Letter.</font></div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za9818657cfb044b0977163132d7f987f" cellpadding="0" cellspacing="0">

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          </td>
          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">21.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000; font-weight: bold;">The disclosure in this section indicates 3M engaged a financial advisor, but we note that 3M did not obtain a fairness opinion. Please revise the disclosure on pages 128-29 or elsewhere, as
              appropriate, to further explain how the 3M board determined that the Transactions were fair to, and in the best interests, of 3M and its shareholders without a fairness opinion. Please expand the risk factors to describe the risks of 3M not
              obtaining a fairness opinion.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><font style="color: #000000;"><u>Response</u>:&#160; </font>We refer the Staff to the Company&#8217;s prior response to Comment No. 21 in <font style="color: #000000;">the Response Letter.</font></div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf0bf59dcca564be2ae09dea596ef7b30" cellpadding="0" cellspacing="0">

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          </td>
          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">22.</td>
          <td style="width: auto; vertical-align: top;">
            <div style="color: #000000; font-weight: bold;">Revise the background section throughout to disclose what other potential alternatives the Neogen board considered in order to grow and enhance Neogen's business, and at what point other strategic
              alternatives were eliminated from consideration. For example, disclose the number and type of strategic alternatives Mr. Adent presented to the Neogen board at the December 5, 2019 meeting. Clarify whether the purpose of the meeting that day
              was to choose from among the potential alternatives presented. Provide similar disclosure for the board's February 6 and April 2 Board meetings, as well as any board meetings not specifically mentioned by date in this section.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><font style="color: #000000;"><u>Response</u>:&#160; </font>The Company respectfully advises the Staff that it previously made corresponding revisions to its disclosure on pages 90, 91, 96 and 97 <font style="color: #000000;">of Amendment No. 1</font>.</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z765bbf7d38a04fe59aa778451d8aa091" cellpadding="0" cellspacing="0">

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          </td>
          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">23.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000; font-weight: bold;">Revise the background section generally to indicate who acted as the "representatives of Neogen" and "representatives of 3M." For example, if they were financial advisors or members of the
              management team, so state.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><font style="color: #000000;"><u>Response</u>:&#160; </font>The Company respectfully advises the Staff that it previously made corresponding revisions to its disclosure on pages 89 through 100 <font style="color: #000000;">of Amendment No. 1</font>.</div>
    <div><br>
    </div>
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          </td>
          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">24.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000; font-weight: bold;">Disclose the agreement in principal with respect to certain material economic terms included in the exclusivity agreement executed on October 3, 2021. After that agreement, revise the discussion
              to explain and quantify how the negotiations evolved regarding the transition agreements. Please also address in this section, if material, negotiations concerning assets, such as manufacturing facilities, that would be included in the
              Separation or Asset Purchase. Please also revise the discussion concerning the November 16, 2021 board meeting to describe the nature of the adjustments to the 3M Food Safety Business projections.</div>
          </td>
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    </table>
    <div><br>
    </div>
    <div><font style="color: #000000;"><u>Response</u>:&#160; </font>The Company respectfully advises the Staff that it previously made corresponding revisions to its disclosure on pages 96 and 97-99 of Amendment No. 1. We also refer the Staff to the Company&#8217;s
      prior response to Comment No. 24 in <font style="color: #000000;">the Response Letter.</font></div>
    <div><br>
    </div>
    <div style="color: #000000; font-weight: bold;"><u>Opinion of Neogen&#8217;s Financial Advisor</u></div>
    <div><br>
    </div>
    <div style="color: #000000; font-weight: bold;"><u>Selected Public Comparable Companies Analysis, page 132</u></div>
    <div><br>
    </div>
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          </td>
          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">25.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000; font-weight: bold;">Please revise to disclose the operational, business and/or financial characteristics that were the selection criteria for inclusion in Centerview&#8217;s selected comparable public companies analysis.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><font style="color: #000000;"><u>Response</u>:&#160; </font>The Company respectfully advises the Staff that it previously made corresponding revisions to its disclosure on page 105 of Amendment No. 1<font style="color: #000000;">.</font></div>
    <div><br>
    </div>
    <div style="color: #000000; font-weight: bold;"><u>Certain Projections, page 134</u></div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zabd44a7e584b42349be4091cb25b1555" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: -36pt;"><br>
          </td>
          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">26.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000; font-weight: bold;">Revise the heading of this section and any related disclosure to clarify that you have disclosed all material projections shared between the parties. In each case where you describe the Neogen
              Projections, the Neogen Reforecasted Food Safety Projections and the 3M Food Safety Projections, revise to explain the material assumptions underlying the projections and risks to those assumptions. Your disclosure should include quantitative
              discussion of the assumptions used to generate the projections rather than merely list factors that could impact the figures presented.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><font style="color: #000000;"><u>Response</u>:&#160; </font>The Company respectfully advises the Staff that it previously made corresponding revisions to its disclosure on pages 110 through 115 of Amendment No. 1<font style="color: #000000;">.</font></div>
    <div><br>
    </div>
    <div style="color: #000000; font-weight: bold;"><u>Board of Directors and Executive Officers of Neogen Following the Merger; Operations Following the Merger, page 139</u></div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z492ac9fef37e4e21a9fc224be7b61018" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: -36pt;"><br>
          </td>
          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">27.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000; font-weight: bold;">Please ensure that you have included the information required by Form S-4 Item 18(a)(7) for each person who will serve as a director or an executive officer of Neogen after the consummation of the
              transactions and file any consents as required by Securities Act Rule 438.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><font style="color: #000000;"><u>Response</u>:&#160; </font>We refer the Staff to the Company&#8217;s prior response to Comment No. 20 in <font style="color: #000000;">the Response Letter.</font></div>
    <div><br>
    </div>
    <div style="color: #000000; font-weight: bold;"><u>U.S. Federal Income Tax Consequences of the Distribution and the Merger, page 203</u></div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc592505b653d4c4383a204e68ab44acc" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: -36pt;"><br>
          </td>
          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">28.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000; font-weight: bold;">We note that you have provided a summary of the tax consequences "in general." Revise to state the material tax consequences of the transactions as the opinion of named counsel. Refer to Sections
              III.C.3 and 4 of Staff Legal Bulletin No. 19 concerning assumptions and opinions subject to uncertainty.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="color: #000000;"><u>Response</u>:&#160; The Company respectfully advises the Staff that the section of the Registration Statement entitled &#8220;<font style="font-style: italic;">Material U.S. Federal Income Tax Consequences of the Distribution and
        the Merger</font>&#8221; describes the material U.S. federal income tax consequences of the Distribution and Merger to 3M and to 3M stockholders. This section is not included in the Proxy Statement because the tax consequences of the transactions to 3M
      and its stockholders are not material to Neogen shareholders in deciding how to vote on the proposals set forth in the Proxy Statement.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z28f5709d679c4c0ea46aa0502d0ebf3d" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: -36pt;"><br>
          </td>
          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">29.</td>
          <td style="width: auto; vertical-align: top;">
            <div style="color: #000000; font-weight: bold;">On page 205, you state that the disclosure is &#8220;for general information only and is not tax advice&#8221; and on page 207 you state that investors should &#8220;consult their own tax advisors as to the
              specific tax consequences of the distribution and the merger to that stockholder . . . including the effect of any U.S. federal tax laws and changes in applicable tax laws.&#8221; Investors are entitled to rely on your disclosure. Revise to
              eliminate these inappropriate disclaimers. You may recommend that investors consult their own advisors with respect to consequences of the transactions that could vary based on their particular circumstances. For guidance, refer to Section
              III.D. of Staff Legal Bulletin No. 19.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="color: #000000;"><u>Response</u>:&#160; The Company respectfully refers the Staff to its response to Comment 28 above with respect to the fat that the disclosure contained in the Registration Statement is not applicable to the Proxy Statement.</div>
    <div><br>
    </div>
    <div style="color: #000000; font-weight: bold;"><u>Exhibits</u></div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zcc1e8e36337a4ac9988e41908d143440" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: -36pt;"><br>
          </td>
          <td style="width: 27pt; vertical-align: top; align: right; color: #000000;">30.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000; font-weight: bold;">Confirm that the &#8220;form of&#8221; material agreements in the Exhibits index will be replaced with final, signed agreements in a pre-effective amendment.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="color: #000000;"><u>Response</u>:&#160; The Company notes that the exhibit filings required to be made with the Registration Statement do not apply to the Proxy Statement and so the Staff&#8217;s comment did not apply to the Proxy Statement.</div>
    <div><br>
    </div>
    <div style="text-align: center; color: #000000;">*&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;*&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;*&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;*&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;*&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;*</div>
    <div><br>
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    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; color: #000000;">If you have any questions concerning Amendment No. 2 or require any additional information, please do not hesitate to contact me at (212) 310-8268 or eoghan.keenan@weil.com or my colleague Michael J.
      Aiello at (212) 310-8552 or michael.aiello@weil.com.</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zef3cb24be3fd4865b0dceea41a625b5a" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div style="color: #000000;">Sincerely yours,</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div style="color: #000000;">/s/ Eoghan P. Keenan</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div style="color: #000000;">Eoghan P. Keenan</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: -27pt; margin-left: 27pt; color: #000000;">cc:</div>
    <div style="text-indent: 0pt; color: #000000;">Amy M. Rocklin, Neogen Corporation<br>
      Michael J. Aiello, Weil, Gotshal &amp; Manges LLP<br>
      Michelle A. Sargent, Weil, Gotshal &amp; Manges LLP<br>
      Mojdeh Poul, Garden SpinCo Corporation<br>
      Kevin Rhodes, Garden SpinCo Corporation<br>
      Steven A. Rosenblum, Wachtell, Lipton, Rosen &amp; Katz<br>
      Jenna E. Levine, Wachtell, Lipton, Rosen &amp; Katz</div>
    <div><br>
    </div>
    <div><br>
    </div>
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