Rexam

Ball Corporation agreed to acquire UK-based packaging company Rexam PLC in a recommended cash and share offer valued at about $5.7 billion, subject to regulatory and Rexam shareholder approval. The combination is expected to create a global packaging leader.

Rexam plans to build two £50 million can manufacturing plants, one in Sri City in Chittoor district, Andhra Pradesh, and one in Jaipur, Rajasthan. The investment totals £100 million.

Ball Corporation confirmed its board is in discussions about a possible acquisition of Rexam PLC, with a proposed combination of cash and equity reportedly valued at $6 billion. No formal agreement had been reached as of May 2020.

The European Commission cleared Ball's acquisition of beverage can maker Rexam in January 2016, conditional on divesting 12 plants in the EEA and nearly the whole European overlap. The decision followed a phase 2 investigation.