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EU clears Ball/Rexam merger, subject to divestments

Fri, 15th Jan 2016 11:32

(ShareCast News) - The European Commission has approved the acquisition of London-listed drinks can maker Rexam by US rival Ball Corp, subject to the divestment of 12 plants in Europe.The regulator said its investigation showed that the deal, as notified, would have cut competition in the already concentrated markets for beverage cans, risking higher prices for customers.As a result, the EC's approval is conditional upon Ball divesting ten plants making can bodies and two plants manufacturing can ends to a suitable purchaser.Commissioner Margrethe Vestager, in charge of competition policy, said: "Soft drinks or beer in cans are widely consumed by European citizens. The substantial remedies offered will ensure that effective competition is maintained in the already concentrated drink can industry so consumers do not end up paying higher prices for their favourite refreshments."Both Rexam and Ball supply beverage cans and, to a lesser extent, aluminium bottles, to soft drinks, beer and energy drinks manufacturers.At 1140 GMT, Rexam shares were down 0.2% to 601p.
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19 Feb 2015 08:20

Rexam agrees to £5.4bn takeover, predicts tough year ahead

The board of drinks packaging group Rexam has agreed a £5.4bn takeover by US rival Ball Corporation, a much larger higher valuation than had been expected by the market. Rexam's management has unanimously recommended the 628p-per-share offer by New York-listed Ball, made up of 407p in cash and 0.045

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19 Feb 2015 07:16

Can maker Rexam gets $6.85 bln offer from US rival Ball

Feb 19 (Reuters) - British drinks can maker Rexam Plc said U.S. rival Ball Corp had made a cash-and-stock offer that valued the company at about 4.43 billion pounds ($6.85 billion). Rexam, which makes cans for Coca-Cola and RedBull, said under the 628 pence per share offer, its shareholder

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19 Feb 2015 06:23

UK Earnings, Trading Statements Calendar - Week Ahead

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18 Feb 2015 19:31

Ball closes in on Rexam deal

US packaging giant Ball is closing in on a deal to buy sector peer Rexam, in a move that would give see it become the world's largest can maker. According to sources cited by MarketWatch, the Colorado-based company and Rexam could be announced by the end of the week. Earlier in February, the group

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18 Feb 2015 18:44

Ball Corp, Rexam deal likely this week - WSJ

Feb 18 (Reuters) - Beverage can maker Ball Corp is close to a deal to buy UK-based Rexam Plc this week, according to people familiar with the matter, the Wall Street Journal reported. Rexam said on Feb. 5 it was in talks with Ball Corp for a cash-and-stock deal that valued Rexam at 610 penc

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18 Feb 2015 18:18

MEDIA-Ball nearing a deal to buy Rexam - WSJ

-- Source link: (http://on.wsj.com/1AlI6cQ) -- Note: Reuters has not verified this story and does not vouch for its accuracy

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18 Feb 2015 16:18

UK Earnings, Trading Statements Calendar - Week Ahead

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18 Feb 2015 12:39

UK MIDDAY BRIEFING: UK Jobless Rate Falls Even As Inflation Weakens

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18 Feb 2015 06:16

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17 Feb 2015 16:06

UK Earnings, Trading Statements Calendar - Week Ahead

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17 Feb 2015 06:16

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16 Feb 2015 16:00

UK Earnings, Trading Statements Calendar - Week Ahead

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16 Feb 2015 06:16

UK Earnings, Trading Statements Calendar - Week Ahead

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13 Feb 2015 15:54

UK Earnings, Trading Statements Calendar - Week Ahead

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13 Feb 2015 06:15

UK Earnings, Trading Statements Calendar - Week Ahead

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