Ball receives FTC approval to buy Rexam
Food and beverage packaging solutions company the Ball Corporation received antitrust clearance from the Federal Trade Commission to proceed with its $6.35 billion acquisition of rival Rexam PLC on the condition the company sells eight aluminum can plants in the US.
Ball received final unconditional regulatory clearance in Brazil on June 8 and in Europe on June 17. The European Commission approved the deal in January subject to the divestment of 12 of plants throughout Europe. European packaging manufacturer the Ardagh Group S.A. has agreed to purchase the divested plants for $3.42 billion along with the eight in the US and two in Brazil.
Upon closing of the transaction, Ball will operate 16 existing metal beverage packaging manufacturing plants in the US, 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.