Friday February 20, 2015 0 comments
BROOMFIELD - Ball Corp. (NYSE: BLL) and Rexam PLC (LSE: REX) announced Ball will acquire London-based Rexam in a cash-and-stock transaction valued at $8.4 billion.
The transaction is expected to be finalized in the first half of 2016.
Both companies are involved in beverage-related businesses, with Rexam operating 55 can-making plants in more than 20 countries.
The combined company will have pro forma 2014 revenue of approximately $15 billion and 22,500 employees worldwide.
"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's chairman, president and CEO.
"As our customers' global reach and product portfolios expand and consumer packaging preferences evolve, the Ball and Rexam combination allows us to remain competitive versus other packaging substrates and responsive to our stakeholder needs for sustainable, innovative and low-cost packaging solutions."