Antitrust Law Daily Wrap Up, ACQUISITIONS & MERGERS NEWS: Ball receives FTC second request for information in Rexam merger, (Apr 8, 2015)
Organizations Mentioned:Ball Corp | Ball Corporation | Rexam PLC
By Linda O’Brien, J.D., LL.M.
Container manufacturer Ball Corporation has received a second request for information from the FTC, under the Hart-Scott-Rodino Antitrust Improvements Act, in connection with the agency’s review of Ball’s offer to acquire U.K. beverage can maker Rexam PCL, the company announced on April 7.
In February 2015 press release, Ball announced its proposal to acquire Rexam in a cash and stock deal for $6.8 billion. The company expects that the necessary regulatory clearances will be obtained by the first half of 2016.
"The combination of Ball and Rexam creates a global metal beverage packaging supplier capable of leveraging its geographic presence, innovative products, and talented employees to better serve customers of all sizes across the globe; while at the same time generating significant shareholder value," said John A. Hayes, Ball Corp. chairman, president, and chief executive officer.
Based in Broomfield, Colorado, Ball manufactures glass and metal food and beverage containers as well as aerospace technologies for the U.S. government. Headquartered in London, Rexam produces cans for Coca Cola and Anheuser-Busch, and is the leading metal beverage can maker in the U.K.
Companies: Ball Corporation; Rexam PLC
News: AcquisitionsMergers Antitrust