3M gives up on acquisition amid Justice Department antitrust threat

3M's plan for a $550 million acquisition of Avery Dennison Corp.'s office products division has been cancelled. The Justice Department planned an antitrust lawsuit if the companies went through with the deal, which would have given 3M control of more than 80 percent of the market for labels and sticky notes.
Author:
Updated:
Original:

3M's plan for a $550 million acquisition of Avery Dennison Corp.'s office products division has been cancelled. The Justice Department planned an antitrust lawsuit if the companies went through with the deal, which would have given 3M control of more than 80 percent of the market for labels and sticky notes.

Next Up

milk bar cake crop

Famous Milk Bar bakery hosts pop-up in Twin Cities

The virtual event only lasts for a few days, with limited quantities available.

Flickr - police barricades dismantle uptown - Chad Davis

MN National Guard soldiers 'standing by' to respond in Minneapolis

Mayor Jacob Frey asked Gov. Tim Walz for National Guard support Wednesday.

tom burke

Charges: Wisconsin star, former NFL player sexually assaulted a child

The child told her mother about the assaults in February, charges say.

Screen Shot 2021-06-14 at 8.45.06 AM

Charges: Drunk driver accelerated 'to jump barricade' in crash that killed protester

Prosecutors say it was "an extreme and violent intentional act."

Screen Shot 2021-06-16 at 9.29.50 AM

Through little fault of its own, Minnesota BBQ joint goes viral

A picture of its ribs was enough to attract the attention of the culinary world.

Flickr - COVID vaccine Joint Base San Antonio

More than 3 million Minnesotans have had at least 1 vaccine dose

The milestone comes almost 6 months to the day since the first vaccine was given in the state.

Related

3M still wants to acquire Avery Dennison division despite DOJ concerns

3M Co. still wants to complete a $550 million deal to buy Avery Dennison Corp.'s office-products division, according to a Wednesday morning statement. On Tuesday, the U.S. Department of Justice said the Maplewood-based company decided to terminate the proposed acquisition after the agency threatened to block the deal.

Acquisition expected to strengthen 3M in office supply sector

3M announced Tuesday that it will acquire California-based Avery Dennison Corporation for $550 million in cash. The company specializes in labels, binders, presentation products, and highlighters. The move is expected to strengthen 3M's position in the worldwide office-supply sector.

3M still working on a deal to acquire Avery Dennison division

3M's chief financial officer says the Maplewood-based company is still trying to address objections by the U.S. Department of Justice to purchase Avery Dennison's office-supplies division for $550 million. Reuters reports CFO David Meline told investors, "We have a contract that remains in place at the present time and we are reviewing the situation."

Feds could block 3M-Avery Dennison deal

The U.S. Department of Justice may step in on a multi-million dollar deal that would combine two of the largest label makers in the world.

FICO completes acquisition of fraud prevention firm Adeptra

Minneapolis-based Fair Isaac Corp. has finished its $115 million acquisition of Connecticut-based Adeptra Ltd., the Associated Press reports. FICO is best known for its credit rating system.

3M sues novelty sticky note seller for using 'Its'

Maplewood-based 3M is suing the maker of joke sticky notes called Post Structrual-Its, Jeez-Its and Buddh-Its. 3M says the products with names that end in 'Its' infringe on its trademark Post-It brand.

Justice Department investigating suburb's rejection of mosque

The Justice Department says it has opened a civil rights investigation into St. Anthony's refusal to issue a permit to a group hoping to establish a mosque in the city. City council members said this summer they would prefer a light industrial use of the site. The Council on American Islamic Relations complained to the feds.