The US Justice Department has received court approval to block Finland’s UPM-Kymmene's acquisition of Bemis Co’s pressure sensitive materials division MACtac. The companies have announced that they do not plan to appeal the injunction and the agreement has been terminated. It would have combined the second and third largest players in the US market for the materials used in adhesive labels.
The deal was first agreed between the two companies in August 2002 and had since received European Commission approval.
28-Jul-2003
