Avery Dennison and 3M Deal DissolvesOctober 11th, 2012 | Category: Industry News
Avery Dennison and 3M have dissolved their agreement to allow 3M to purchase Avery Dennison’s Office and Consumer Products division for $550 million.
Both companies announced October 3 that the deal would not go forward.
“While we are disappointed with this turn of events, we remain focused, as always, on investing in product innovation and providing our customers with a broad range of premier products,” says Jesse Singh, vice president and general manager, 3M Stationery and Office Supplies Division.
In September, the Department of Justice announced its opposition
The Department of Justice declared its opposition to the deal in September citing anti-trust laws.
Both companies announced the agreement in January.
According to an Avery Dennison press release, the company will continue to “pursue a divestiture” for the business.