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3M still working on Avery-Dennison deal, CFO says
September 19, 2012 / 12:45 PM / 5 years ago

3M still working on Avery-Dennison deal, CFO says

Sept 19 (Reuters) - 3M Co is working to address objections that the U.S. Department of Justice raised over its planned $550 million acquisition of Avery-Dennison Corp ’s office products group, the diversified U.S. manufacturer’s chief financial officer said on Wednesday.

“We have a contract that remains in place at the present time and we are reviewing the situation,” CFO David Meline told investors.

The Justice Department on Sept. 4 threatened a lawsuit to block the deal over antitrust concerns.

Chief Executive Inge Thulin, who in February took the top job at the maker of products ranging from Post-It notes to films for television screens, said that under his tenure the company would aim to do “maybe fewer, but slightly bigger” acquisitions than it has in the past.

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