U.S. May Sue to Block 3M (MMM), Avery Dennison (AVY) Merger
Tweet
Share
E-mail
Get Alerts MMM Hot Sheet
Price: $93.00 +0.41%
Overall Analyst Rating:
NEUTRAL (
Up)
Dividend Yield: 6.5%
Revenue Growth %: -5.1%
Overall Analyst Rating:
NEUTRAL (
Up)Dividend Yield: 6.5%
Revenue Growth %: -5.1%
Join SI Premium – FREE
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wolfspeed pops as activist investor urges firm to consider options, including sale
- Clarivate (CLVT) Acquires Global QMS
- IBM (IBM) Nears Acquisition of Software Provider HashiCorp (HCP) - WSJ
Create E-mail Alert Related Categories
Insiders' Blog, Mergers and AcquisitionsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
