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Press release from Business Wire

3M and Avery Dennison Respond to DOJ Announcement Regarding Proposed Transaction

Wednesday, September 05, 2012

3M and Avery Dennison Respond to DOJ Announcement Regarding Proposed Transaction00:00 EDT Wednesday, September 05, 2012 ST. PAUL, Minn. & PASADENA, Calif. (Business Wire) -- 3M (NYSE:MMM) and Avery Dennison Corp. (NYSE:AVY) issued the following statement in response to a news release from the U.S. Department of Justice (DOJ) regarding 3M's proposed acquisition of Avery Dennison's Office and Consumer Products business: “3M and Avery Dennison have not terminated the purchase agreement governing the transaction. In light of concerns about the transaction raised by the DOJ, the companies have voluntarily withdrawn the notification and report forms filed under the Hart-Scott-Rodino Act. The companies continue to believe the transaction would benefit customers and consumers. 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.” About 3M 3M captures the spark of new ideas and transforms them into thousands of ingenious products. Our culture of creative collaboration inspires a never-ending stream of powerful technologies that make life better. 3M is the innovation company that never stops inventing. With $30 billion in sales, 3M employs 84,000 people worldwide and has operations in more than 65 countries. For more information, visit www.3M.com or follow @3MNews on Twitter. Media Contact:3MDonna Fleming Runyon, 651-736-7646orInvestor Contacts:3MMatt Ginter, 651-733-8206Bruce Jermeland, 651-733-1807