Sept 5 3M Co said it is not dropping the
purchase of Avery Dennison Corp's office products
groups, in response to the U.S. Justice Department's statement
on Tuesday that the company is abandoning the plan following
threats of a civil lawsuit by antitrust authorities.
Earlier, the department disclosed its objections in a news
release, saying the proposed acquisition "would have
substantially lessened competition in the sale of labels and
"3M and Avery Dennison are committed to working together to
explore options to address the DOJ's concerns, obtain regulatory
approval, and complete a transaction between the parties," 3M
The proposed deal, announced in January, was to be a $550
million cash purchase by 3M. It would have brought together two
families of well-known consumer products, such as 3M's Post-It
notes and Avery's HI-LITERS markers.