3M has some 553 million shares paying close to 6 dollars a year in dividends. That's about 3.3 billion paid out per year.
The logical offer 3M should make is to suspend the divy for 3 years and give the 10 billion as a settlement.
As for the stock price, the loss due to not having a divy for 3 years will easily be overcome by the relief that the company will not go bankrupt and our pensions will be saved.
This move will probably bump the stock back over 140. If you are an employee or retiree, losing the divy shouldn't bother you at all to save what's left.
Now if only Monish can figure this one out.