LONDON: US peer Ball Corporation is hopeful of buying the British beverage cans maker as Rexam has said that it will accept takeover offer worth £4.3 billion ($6.6 billion) from the American company.
Ball Corporation said in a statement that, under the terms of the offer, shareholders would receive 407 pence in cash and 0.04568 new Ball shares, worth 610 pence per share.
“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 in all regions across the globe,” added John Hayes, head of Ball Corporation.
The new company will have total revenues of approximately $15 billion and 22,500 employees worldwide. The pair had already revealed earlier this month that they were in takeover talks.
