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.
Jun. 17, 2011, 8:59 AM
Graham Packaging (GRM -2.6%) agrees to a $25.50/share offer from New Zealand-based Reynolds Group, $0.50 higher than its June 13 offer. Graham will pay Silgan (SLGN -0.3%) a $39.5M penalty for backing out of its $19.56/share deal after the latter failed to counterbid during the three-day match period. (PR)| Jun. 17, 2011, 8:59 AM
Jun. 14, 2011, 9:55 AM
Jun. 13, 2011, 9:09 AM
Graham Packaging (GRM) says it has received an unsolicited $25/share acquisition offer from an undisclosed third party, and believes it could lead to a proposal that is superior to the pending $19.56/share transaction with Silgan Holdings (SLGN). GRM +20.3%, SLGN -3.6% premarket. (PR)| Jun. 13, 2011, 9:09 AM