The board of directors for Ball Corp., Broomfield, Colorado, has confirmed that it is in discussions concerning a possible acquisition of Rexam PLC, a manufacturer of aluminum cans headquartered in London. The proposed transaction includes a combination of cash and equity.
Ball, which is best known as a manufacturer of aluminum and steel cans, reports that while the two companies are in discussions about an acquisition, there is no guarantee that an official offer will be extended to Rexam.
In a statement, Rexam confirms the discussions and adds that the proposal values Rexam at 610 pence (US$9.28) per each Rexam share, based on a consideration of about two-thirds in cash and one-third in shares of Ball Corp.
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