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US antitrust objection blocks 3M-Avery office products deal
September 4, 2012 / 10:50 PM / 5 years ago

US antitrust objection blocks 3M-Avery office products deal

WASHINGTON, Sept 4 (Reuters) - 3M Co is abandoning its plan to acquire Avery Dennison Corp’s office products groups after antitrust authorities at the U.S. Justice Department threatened a civil lawsuit to block the deal, the department said on Tuesday.

The department disclosed its objections in a news release, saying the proposed acquisition “would have substantially lessened competition in the sale of labels and sticky notes.”

Consumers would have seen higher prices and reduced innovation as a result, the department said.

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