Ball's offer for Rexam PLC acquisition approved
Ball Corporation (ball.com) confirms that the Federal Trade Commission (FTC) has formally approved its proposed acquisition of Rexam PLC, and thereby granted final regulatory clearance in the U.S. for Ball's offer for Rexam PLC. The FTC has also formally approved Ardagh Group's proposed acquisition of certain Rexam PLC assets in the U.S.
Upon closing the proposed offer for Rexam PLC, Ball will operate its 16 existing metal beverage packaging manufacturing plants in the U.S., Canada and Mexico; its Rocky Mountain Metal Container joint venture in Golden, Colorado; and Rexam's beverage can manufacturing plants in Phoenix, Arizona; Chatsworth, California; St Paul, Minnesota; Longview, Texas; Kent, Washington; and Queretaro, Mexico; end manufacturing plant in Birmingham, Alabama; and joint ventures in Amatitlan, Guatemala and Cristobal, Panama. The North and Central America regional office and innovation center will operate from Ball's existing Westminster, Colorado, locations.
Ball received final unconditional regulatory clearance in Brazil on June 8 and in Europe on June 17. Following closing of the transaction, Ball will remain a New York Stock Exchange listed company domiciled in the U.S.