Avery Dennison Corp.(AVY) to Buy Paxar Corp. (PXR)
Avery Dennison Corp. is looking to expand in the retail-information and brand-identification market with a $1.3 billion buyout of Paxar Corp.
The deal breaks down to $30.50 cash for each outstanding share of Paxar stock (NYSE: PXR - News). JPMorgan Chase (NYSE: JPM - News) has committed $1ред35 billion in acquisition financing and will also arrange long-term financing.
Retail-information services provide brand identification and supply chain management solutions for manufacturers and retailers, including tag and label design and printing; inventory and shipment tracking; and data-management systems.
Avery is projecting annual cost savings of $90 million to $100 million through the deal. Avery also estimates the integration costs will be between $100 million and $125 million.
Pasadena's Avery (NYSE: AVY - News) manufactures pressure-sensitive labeling materials, office products and retail tag, ticketing and branding systems.
Published March 23, 2007 by Los Angeles Business from bizjournals
The deal breaks down to $30.50 cash for each outstanding share of Paxar stock (NYSE: PXR - News). JPMorgan Chase (NYSE: JPM - News) has committed $1ред35 billion in acquisition financing and will also arrange long-term financing.
Retail-information services provide brand identification and supply chain management solutions for manufacturers and retailers, including tag and label design and printing; inventory and shipment tracking; and data-management systems.
Avery is projecting annual cost savings of $90 million to $100 million through the deal. Avery also estimates the integration costs will be between $100 million and $125 million.
Pasadena's Avery (NYSE: AVY - News) manufactures pressure-sensitive labeling materials, office products and retail tag, ticketing and branding systems.
Published March 23, 2007 by Los Angeles Business from bizjournals
Labels: Avery Dennison Corp., AVY, Paxar Corp., PXR
posted by Stock Administrator @ 9:30 PM
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