ST. PAUL, Minn. & PASADENA, Calif.--(BUSINESS WIRE)--3M (NYSE:MMM) and Avery Dennison Corp. (NYSE:AVY) issued the following
statement in response to a news release from the U.S. Department of
Justice (DOJ) regarding 3M’s proposed acquisition of Avery Dennison’s
Office and Consumer Products business:
“3M and Avery Dennison have not terminated the purchase agreement
governing the transaction. In light of concerns about the transaction
raised by the DOJ, the companies have voluntarily withdrawn the
notification and report forms filed under the Hart-Scott-Rodino Act.
The companies continue to believe the transaction would benefit
customers and consumers. 3M and Avery Dennison are committed to working
together to explore options to address the DOJ’s concerns, obtain
regulatory approval, and complete a transaction between the parties.”
About 3M
3M captures the spark of new ideas and transforms them into thousands of
ingenious products. Our culture of creative collaboration inspires a
never-ending stream of powerful technologies that make life better. 3M
is the innovation company that never stops inventing. With $30 billion
in sales, 3M employs 84,000 people worldwide and has operations in more
than 65 countries. For more information, visit www.3M.com
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