U.S. May Sue to Block 3M (MMM), Avery Dennison (AVY) Merger
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Price: $159.36 +1.05%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.1%
EPS Growth %: +3.7%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.1%
EPS Growth %: +3.7%
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According to reports out earlier, the U.S. Department of Justice might file a lawsuit seeking to block the 3M Co. (NYSE: MMM) move to acquire Avery Dennison (NYSE: AVY). Bloomberg said a suit might be filed by the end of the week, citing sources.
Completion of the deal, which would combine the world's two largest label makers, was slated to be complete in the second-half of 2012.
Avery-Dennison products include Marks-A-Lot pens, while 3M's big names include Post-It notes and Scotch tape.
Shares of 3M are off about 1 percent while Avery-Dennison shares are down 6 percent.
Completion of the deal, which would combine the world's two largest label makers, was slated to be complete in the second-half of 2012.
Avery-Dennison products include Marks-A-Lot pens, while 3M's big names include Post-It notes and Scotch tape.
Shares of 3M are off about 1 percent while Avery-Dennison shares are down 6 percent.
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