Apollo-owned Novolex acquires Pactiv Evergreen for $6.7 billion, enhancing food and beverage packaging business.

From Investing.com: 2024-12-09 13:31:06

Packaging firm Novolex acquires Pactiv Evergreen in a $6.7 billion deal to strengthen food and beverage packaging business. Novolex offers $18 per share in all-cash transaction, a 32.4% premium to Pactiv’s closing price. Pactiv’s shares surge 19% as packaging sector sees consolidation due to easing demand post-pandemic. Novolex-Pactiv deal backed by Apollo and Canada Pension Plan. Novolex CEO to lead combined company with 250 brands and expanded distribution. Financial advisers include Barclays, Morgan Stanley, RBC Capital Markets, Goldman Sachs, and Lazard Freres.



Read more at Investing.com: Apollo-owned Novolex to take packaging products maker Pactiv private in $6.7 billion deal By Reuters