Avery Dennison to Acquire Paxar

PASADENA, Calif. & WHITE PLAINS, N.Y.—Avery Dennison Corporation and Paxar Corporation announced that their boards of directors have unanimously approved a definitive agreement for Avery Dennison to acquire all outstanding shares of Paxar for $30.50 per share in a cash transaction valued at approximately $1.34 billion. The transaction is expected to enhance Avery Dennison’s ability to compete and grow in the fragmented, expanding $15 billion-plus global retail information and brand identification market.