Avery Dennison Corp., the world’s arch maker of self-adhesive labels, agreed to buy artery assurance articles maker Stimsonite Corp. for about $137 actor in cash. Avery Dennison will pay $14.75 a allotment for the Niles, Ill.-based company, a 40% exceptional over Stimsonite’s Thursday banal price. Stimsonite, which had 1998 sales of $87.4 million, makes aloft cogitating alley markers, work-zone markers and optical-film articles acclimated in artery signs. Avery Dennison will use the acquirement to aggregate up its cogitating films business, now a baby allotment of its revenue, an analyst said. Pasadena-based Avery Dennison had 1998 sales of $3.46 billion. Stimsonite shares jumped $4 to aing at $14.50 on Nasdaq, while Avery Dennison bankrupt up 88 cents at $62.88 on the NYSE.
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