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3M May See Competition in Bid to Purchase Cogent

3M Co.’s $10.50-a-share offer to buy Cogent Inc., a manufacturer of fingerprint-identification systems, may see some competition from other bidders, analysts from Benchmark Co. and Lazard Capital Markets said.

Cogent climbed $2.18, or 24 percent, to $11.09 at 4 p.m. New York time in Nasdaq Stock Market trading, suggesting some investors anticipate a higher offer for the Pasadena, California-based company.