Avery dennison corporation (nyse:avy) entered into a definitive agreement to acquire transponder division from smartrac n.v. for approximately €230 million.

Avery dennison corporation (nyse:avy) entered into a definitive agreement to acquire transponder division from smartrac n.v. for approximately €230 million on november 20, 2019. the purchase price is subjected to certain closing and post-closing adjustments. the acquisition will be funded through existing cash and credit facilities. the acquisition is expected to have an immaterial impact to the company’s adjusted earnings per share in 2020. the transaction is subjected to customary closing conditions and approval of antitrust authorities. the transaction is expected to close in first quarter of 2020. jpmorgan chase & co acted as financial advisor to smartrac. kai kerger, hans peter leube, simon shooter, simon phippard, michael maier, ann-kristin asmuß, christoph meves, matthias meyer, barbara geck, mascha grundmann, mascha grundmann, james fong, pauline vos, brian mulier, marcus chow, shan lai of bird & bird llp acted as legal advisors for avery dennison corporation.
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