Avery Dennison Announces Early Termination of Waiting Period for Sale of Two Businesses to CCL Industries

Thu Mar 28, 2013 12:51pm EDT

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PASADENA, Calif.--(Business Wire)--
Avery Dennison Corporation (NYSE:AVY) announced today that the U.S. Federal
Trade Commission has granted early termination of the Hart-Scott-Rodino waiting
period for the company`s proposed sale of its Office and Consumer Products (OCP)
and Designed and Engineered Solutions (DES) businesses to CCL Industries Inc.
(TSX:CCL.A)(TSX:CCL.B). 

The companies will continue to work toward closing and expect to complete the
sale in mid-2013. 

About Avery Dennison

Avery Dennison (NYSE:AVY) is a global leader in labeling and packaging materials
and solutions. The company`s applications and technologies are an integral part
of products used in every major market and industry. With operations in more
than 50 countries and 30,000 employees worldwide, Avery Dennison serves
customers with insights and innovations that help make brands more inspiring and
the world more intelligent. Headquartered in Pasadena, California, the company
reported sales from continuing operations of $6 billion in 2012. Learn more at
www.averydennison.com. 

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995:

Certain statements contained in this press release are "forward-looking
statements" intended to qualify for the safe harbor from liability established
by the Private Securities Litigation Reform Act of 1995. These forward-looking
statements are subject to certain risks and uncertainties. Actual results and
trends may differ materially from historical or anticipated results depending on
a variety of factors, including but not limited to risks and uncertainties
relating to the following: (1) the occurrence of any event, change or other
circumstance that could give rise to the termination of the transaction; (2) the
outcome of any legal proceedings that may be instituted against the Company and
others regarding the transaction; (3) the inability to complete a transaction
due to the failure to satisfy conditions to the transaction; and (4) risks that
the proposed transaction disrupts current plans and operations and the potential
difficulties in employee retention as a result of announcing the transaction. 

For a discussion of the risk factors that could affect the Company`s financial
performance, see Part I, Item 1A. "Risk Factors" and Part II, Item
7."Management`s Discussion and Analysis of Results of Operations and Financial
Condition" in the Company`s most recent Form 10-K, filed on February 27, 2013. 

The forward-looking statements included in this press release are made only as
of the date of this press release, and the Company undertakes no obligation to
update the forward-looking statements to reflect subsequent events or
circumstances.

Avery Dennison Contacts:
Media Relations:
David Frail, (626) 304-2014 (o) and (626) 298-5902 (m)
david.frail@averydennison.com
or
Investor Relations:
Eric M. Leeds, (626) 304-2029
investorcom@averydennison.com

Copyright Business Wire 2013

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