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AllHipHop.com has an interview with Slim:

AllHipHop.com Alternatives: So what was the situation with 112 and Bad Boy?

Slim: Well, for a good five or six years we were pretty much in a production deal that wasn’t really good. We didn’t want to leave Bad Boy but we were stuck in this production agreement and in order to get out of the production agreement we had to leave Bad Boy. Unfortunately, that’s pretty much what happened.

AHHA: How’s the relationship now?

Slim: We’re still real cool with [Diddy]. As a matter of fact, I have a song with his artist that’s about to come out, and y’all about to hear it. It’s me, 8-Ball and MJG who’s signed to Bad Boy records, and I’m on it with Three Six Mafia.

There is some talk about Biggie in there, as well.