Thu, Nov. 3, 6:03 AM
Wed, Nov. 2, 5:30 PM
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Wed, Oct. 26, 5:20 PM
Fri, Aug. 5, 12:48 PM
- Ball Corp. (BLL +0.8%) is added to the Franchise Pick List at Jefferies after the company posted a solid Q2 earnings beat on $2M in revenues.
- The firm believes BLL's 2017 free cash flow guidance is conservative, saying that while management expects net debt to remain at an elevated level for 2016, with ~$750M of one-time cash items coupled with $46M of incremental dividend payments implying core fee cash flow in H2 is closer to $800M.
- Baird considers BLL as one of its top defensive stock picks, citing greater confidence in earnings and free cash flow forecasts post the three-year Rexam synergy period as well as increased transparency from management.
- Jefferies has a Buy rating on BLL with a $94 price target, while Baird rates BLL at Outperform with an $85 target.
Thu, Aug. 4, 12:00 PM
Thu, Aug. 4, 6:02 AM
Wed, Aug. 3, 5:30 PM
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Wed, Jul. 27, 5:50 PM
Tue, Jun. 28, 2:14 PM
- Ball Corp. (BLL +1.2%) says it has won U.S. antitrust approval from the FTC for its merger with Rexam (OTCPK:REXFF) on the condition that the companies sell eight aluminum can plants.
- The FTC says Ardagh Group will acquire aluminum can plants in Fairfield, Calif., Chicago, Ill., Whitehouse, Ohio, Fremont, Ohio, Winston-Salem, N.C., Bishopville, S.C., Olive Branch, Miss., and Valparaiso, Ind., as well as Rexam’s U.S. headquarters in Chicago and Rexam’s U.S. Technical Center in Elk Grove, Ill.
- The merger previously won antitrust approval in Europe and Brazil.
Thu, Apr. 28, 6:06 AM
- Ball (NYSE:BLL): Q1 EPS of $0.58 misses by $0.10.
- Revenue of $1.76B (-8.3% Y/Y) misses by $130M.
Wed, Apr. 27, 5:30 PM
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Wed, Apr. 27, 5:01 PM
- Ball (NYSE:BLL) declares $0.13/share quarterly dividend, in line with previous.
- Forward yield 0.69%
- Payable June 15; for shareholders of record June 1; ex-div May 27.
Mon, Apr. 25, 2:24 AM
- Beverage-can maker Ball (NYSE:BLL) and U.K. peer Rexam (OTCPK:REXFF) have agreed to sell a number of assets to Luxembourg-based Ardagh Group for $3.42B in order to meet competition requirements ahead of their $6.6B merger.
- Ardagh will buy drink-can assets, support locations and functions in Europe, Brazil and the U.S. (PR)
Mon, Apr. 18, 11:56 AM
- Glass and metal packaging company Ardagh is the lead bidder for assets that Ball (BLL +2.3%) and Rexam (OTCPK:REXFF) are selling as part of their merger, potentially fetching ~$4B, Bloomberg reports.
- Apollo Global Management (NYSE:APO), Blackstone (NYSE:BX) and Madison Dearborn Partners also are among bidders for the assets, according to the report.
- In January, the EU approved BLL’s £4.4B ($6.3B) takeover of Rexam, creating the biggest maker of food and beverage cans, after agreeing to sell 12 plants on the continent to eliminate antitrust concerns.
- Now read Ball upgraded at J.P. Morgan; Rexam risk/reward seen as more favorable
Thu, Mar. 31, 3:47 PM
- Ball Corp. (BLL +0.6%) is upgraded to Overweight from Neutral with a $79 price target at J.P. Morgan, saying the risk/reward into the acquisition of Rexam (OTCPK:REXFF) is "increasingly more favorable."
- The firm believes BLL can still achieve a return on its investment that exceeds its 9% threshold even if divestitures come in higher and synergies come in lower than the company expects.
- JPM also notes that if BLL were able to generate $300M of synergies from the Rexam transaction, its price target for the Ball/Rexam combination would increase to $82; to the downside, if synergies came in at $150M, its price target drops to $74.
Tue, Feb. 16, 4:48 PM
- Drink can makers Ball Corp. (NYSE:BLL) and Rexam (OTCPK:REXFF) have started the process of selling assets, potentially worth more than $3B, to meet antitrust regulations ahead of their planned $6.4B merger, Reuters reports.
- The two companies are expected to meet with representatives of buyout groups including Blackstone and Apollo, as well as with peers such as Silgan (NASDAQ:SLGN) before final bids are due in mid-March, according to the report.
- The companies have offered to sell 12 plants across Europe, and BLL separately is selling about eight sites in the U.S. and several in Brazil, due to antitrust concerns.