Morale is shot. Employees knew they were keeping seniority, benefit cost were much lower with 3M which was considered instant raise. Hope was 3M would add it's sticky notes and other product lines, any redundancy that was removed would have little effect if other product lines were added to portfolio. Now we all wait with little confidence that any deal will be better than the 3M deal. We are unable to bid out to other Avery divisions because we are considered part of the asset that is being sold. We should all know fairly soon about the future of OCP.
I'm guessing they will go through a prolonged sell off of the individual brands and product lines. In any case, I can't see them getting the same kind of money, collectively, that was on the table with the 3M deal. What's worse, the morale around that division appears shot, so any goodwill that may have been factored into the 3M deal is long gone.
I would think this would improve morale, since any merger with 3M would have meant that they'd be merged and purged to remove redundancy. If a private equity firm buys them they may be downsized but not due to redundancy with another large office products company.