3M drops plan to buy Avery-Dennison's office products business

Wed Oct 3, 2012 5:07pm EDT

Oct 3 (Reuters) - 3M Co said it terminated its deal to buy Avery-Dennison Corp's office and consumer products business.

The U.S. Justice Department had in September threatened a lawsuit to block the $550 million deal over antitrust concerns.

Separately, Avery-Dennison said it will continue to pursue a sale of the business.