Paxar investor OZ increases stake to 7.6%

By Lisa Kerner

Charlotte, N.C., April 5 - Paxar Corp. investors led by OZ Management LLC purchased 1,858,783 shares of the company's stock between Feb. 12 and March 28 priced from $22.32 and $28.69 for investment purposes, according to a schedule 13D filing with the Securities and Exchange Commission

The investor beneficially owns 3,160,588 shares, or 7.6%, of Paxar's outstanding stock.

On March 23, Avery Dennison Corp. announced it will acquire Paxar for $30.50 per share in a cash transaction valued at about $1.34 billion.

Pasadena, Calif.-based Avery Dennison specializes in pressure-sensitive labeling materials, office products and retail tag, ticketing and branding systems.

Paxar, located in White Plains, N.Y., provides identification solutions to the retail and apparel industry.

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