3M (NYSE: MMM), St. Paul, MN, and Avery Dennison Corp. (NYSE: AVY), Pasadena, CA, have terminated the definitive agreement under which 3M would have purchased Avery Dennisons Office and Consumer Products business.
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\”While we are disappointed with this turn of events, we remain focused, as always, on investing in product innovation and providing our customers with a broad range of premier products,\” said Jesse Singh, vice president and general manager, 3M Stationery and Office Supplies Division.
Avery Dennison will continue to pursue a divestiture of the Office and Consumer Products business, according to a release from the company.