Ball Corporation in talks to buy Rexam to form beverage can giant

Ball Corporation in talks to buy Rexam to form beverage can giant

The world’s largest drinks can manufacturer has approached the second largest, with a view to an acquisition worth up to £4.3bn.

Ball Corporation is in discussions to acquire UK can manufacturer Rexam, which it values at £6.10 per share, to be divided between one-third cash and two-thirds Ball Corp. shares. The US-based company has been given a 5pm deadline on 5 March to make an offer.

A merger between Ball Corp. and Rexam would produce the world’s largest can manufacturer by far, dwarfing US rivals Crown which holds less than a fifth of the market share. The Financial Times reports that the resulting entity would hold about 61% of the market for drinks cans in North America.

"Any deal between the two… can makers would have to result in large-scale asset sales across several regions to appease competition authorities, seen to be the main obstacle to a potential takeover," the newspaper said.

In a statement, Rexam said: "Discussions on other matters are continuing and there can be no certainty any formal offer will be forthcoming, or as to the terms of any offer. A further announcement will be made when appropriate."

Source | FoodBev.com

 

You may also want to read

Comments

By commenting, you agree to Monster's privacy policy, terms of use and use of cookies.

blog comments powered by Disqus

Latest Manufacturing News

Latest Manufacturing Jobs

  • {FeaturedJobPostedDateText}20/01/2017 {FeaturedJobCompanyText} Morrisons Manufacturing
    We have a great opportunity for a Shift Manager – Warehouse - Nights to join our warehouse team at our Cutler Heights produce manufacturing site in Bradford. Reporting to the Warehouse Manager, you...
  • {FeaturedJobPostedDateText}20/01/2017 {FeaturedJobCompanyText} Crescent Manufacturing Limited
    Crescent Pharma are currently recruiting for our QA team based at our Manufacturing site in Park Royal, London. The QA officers principle role will be to support the QA executives, Quality Manager...
  • {FeaturedJobPostedDateText}19/01/2017 {FeaturedJobCompanyText} ALPHA MANUFACTURING HIXON LIMITED
    The Bri-Stor Group consists of Bri-Stor Systems Ltd, Alpha Manufacturing Ltd & Atlas Coatings Ltd and we are based in Hixon, Staffordshire. We are a privately owned business employing approx 400 pe...
  • {FeaturedJobPostedDateText}19/01/2017 {FeaturedJobCompanyText} Morrisons Manufacturing
    We have a fantastic opportunity for a Shift Manager - Engineering to join our manufacturing site - Cutler Heights, Bradford on a 4 on 4 off day shift. Reporting to the Site Engineering Manager, you...
  • {FeaturedJobPostedDateText}19/01/2017 {FeaturedJobCompanyText} Morrisons Manufacturing
    We have a great opportunity for a Technical Systems Team Manager to join our Gadbrook Produce site in Northwich. Gadbrook Manufacturing is a purpose built dual facility able to process both fruit ...

Find Better

Register