3M still working on a deal to acquire Avery Dennison division - Bring Me The News

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."
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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."

Earlier this month, the DOJ threatened to block the proposed deal over concerns the merger would give 3M control of more than 80 percent of the market for labels and sticky notes.

3M announced its plans to purchase the office-products group more than eight months ago.

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