Ex-99.(a)(5)(E)
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News Release |
Miller Corporate Center
Media Relations: For Immediate Release
Dan Hilley (213) 630-6550
communications@averydennison.com
Dan Hilley (213) 630-6550
communications@averydennison.com
Investor Relations:
Eric M. Leeds (626) 304-2029
investorcom@averydennison.com
Eric M. Leeds (626) 304-2029
investorcom@averydennison.com
AVERY DENNISON ANNOUNCES RESULTS OF EXCHANGE
OFFER FOR CORPORATE HIMEDS UNITS
OFFER FOR CORPORATE HIMEDS UNITS
Pasadena, California — March 4, 2009 — Avery Dennison Corporation (NYSE: AVY) today
announced the preliminary results of its offer to exchange (the “exchange offer”) up to
8,360,000 of its Corporate HiMEDS Units, stated amount $50.00 per unit (the “Corporate
HiMEDS Units”). The Company has been advised by the exchange agent that approximately
6,612,978 Corporate HiMEDS Units (including 341,858 Corporate HiMEDS Units tendered pursuant
to guaranteed delivery procedures), or approximately 75.15% of the outstanding Corporate
HiMEDS Units, were validly tendered and not withdrawn as of the expiration of the offer,
which occurred at 12:01 a.m., New York City time, on March 4, 2009 (the “expiration date”).
Avery Dennison has accepted all Corporate HiMEDS Units validly tendered and not withdrawn as
of the expiration date. In the aggregate, the offer is expected to result in the retirement
of approximately $330.65 million of senior notes that are part of the Corporate HiMEDS
Units, the issuance of approximately 6.45 million shares of Avery Dennison’s common stock,
par value $1.00 per share, and the payment of approximately $42.98 million in cash to
participating holders who validly tendered