29th Jun 2016 10:36
LONDON (Alliance News) - Beverage can maker Rexam PLC on Wednesday said it has now received US approval for its takeover by Ball Corp, and its shares will be cancelled from trading in London on Thursday.
Ball, the Colorado-based metal and plastic packaging manufacturer, agreed to acquire Rexam originally in February 2015, and the deal has been working its way through a series of regulatory approvals.
The final hurdle was cleared in April when Luxembourg-based glass and metals products maker Ardagh Group agreed to pay USD3.42 billion to acquire assets in Europe, Brazil and the US from Ball to assuage regulatory concerns.
The stock was trading up 1.8% at 650.16 pence Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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