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Crown Holdings Inc. (CCK)

  • Wed, Feb. 18, 2:25 PM
    • Ball Corp. (BLL +2.4%) is close to a deal to purchase U.K. rival Rexam and could be announced as early as this week, WSJ reports, in a move that would create the world’s largest beverage can maker.
    • The companies said earlier this month they were negotiating a cash-and-share offer that would value Rexam at ~£4B ($6.2B), but some analysts pointed to regulatory concerns as an impediment to a deal.
    • A combination would leave its nearest rival, Crown Holdings (CCK +3.1%), trailing with 19% market share.
    | Wed, Feb. 18, 2:25 PM | Comment!
  • Thu, Feb. 5, 8:37 AM
    • Ball Corp. (NYSE:BLL) +4% premarket after confirming it is in talks about buying U.K.-based rival Rexam, a move that would combine two of the world’s biggest can makers.
    • Rexam says the two companies are discussing a possible share and cash offer worth ~610 pence/share, which would value it at more than £4B ($6B).
    • Rexam and Ball, together with Crown Holdings (NYSE:CCK), account for more than 60% of global beverage can volumes, and nearly 90% in Europe, North and South America.
    • Earlier: Ball misses by $0.01, beats on revenue
    | Thu, Feb. 5, 8:37 AM | 1 Comment
  • Oct. 16, 2014, 5:39 PM
    • Crown Holdings (NYSE:CCK) entered into an agreement to acquire EMPAQUE (Mexican beverage packaging) from Heineken N.V. (OTCQX:HEINY)
    • Segment Revenue - Americas Beverage $570M vs. $583M last year; North America Food $236 vs. 249M; European Beverage $474M vs. 481M; European Food $787M vs. 543M.
    • Free Cash Flow $91M vs. $70M.
    • Q3 earnings
    • Conference Call at 9 am ET tomorrow
    | Oct. 16, 2014, 5:39 PM | Comment!
  • Sep. 1, 2014, 3:30 AM
    • Heineken (OTCQX:HEINY) has agreed to sell its Mexican packaging business Empaque to Crown Holdings (NYSE:CCK), resulting in an after-tax gain of €300M ($393M).
    • The $1.2B in cash deal will close by the end of this year, pending regulatory approval.
    | Sep. 1, 2014, 3:30 AM | 1 Comment
  • Nov. 21, 2013, 3:36 PM
    • Crown Holdings (CCK +0.6%) intends to secure $2.84B in loans to finance its purchase of Mivisa Envases, Bloomberg reports.
    • The debt will be primarily denominated in dollars and will consist of a $1.2B revolver, $1.34B in term loans, and a $300M credit facility.
    | Nov. 21, 2013, 3:36 PM | Comment!
  • Oct. 31, 2013, 8:52 AM
    • Crown Holdings (CCK) adds to its business, buying Spanish food-can maker Mivisa Envases from a group including Blackstone (BX) in a deal valued at $1.64B.
    • Mivisa is Spain's largest food-can producer and had sales of €555M and EBITDA of €133M in the year ended June 30. The deal has committed financing and is expected to close next year, subject to European regulators.
    • CC at 10 ET.
    • Press release.
    | Oct. 31, 2013, 8:52 AM | Comment!
Company Description
Crown Holdings Inc is engaged in the design, manufacture and sale of packaging products for consumer goods. The Company's primary products include steel & aluminum cans for food, beverage, household and other consumer products and metal vacuum closures.