PaxarInvestorTeleconferenceHandout

The document is an investor presentation for Avery Dennison's proposed acquisition of Paxar. The key points are: 1) Avery Dennison will acquire Paxar for $30.50 per share, valuing Paxar at $1.34 billion including debt. This represents a 27% premium to Paxar's stock price. 2) The acquisition will enhance Avery Dennison's revenue growth potential by expanding into the $15 billion retail identification market and better serving global supply chains. 3) Annual cost synergies of $90-100 million are estimated by combining infrastructure and achieving scale. This is expected to make the acquisition accretive to earnings within 12