Reynolds Buys Graham Packaging
The maker of Reynolds Wrap aluminum foil is buying Graham Packaging for nearly $1.7 billion after rival bidder Silgan Holdings failed to come with a better offer.
Reynolds Group plans to pay for the acquisition with available cash and fully committed financing. The company says the acquisition provides strategic benefits and cost savings.
The buyout, which was unanimously approved by Graham's board, is expected to close in the second half of the year. There’s no word yet on what effect, if any, this will have on the Bradford plant.
For more information go here.
Reynolds Group plans to pay for the acquisition with available cash and fully committed financing. The company says the acquisition provides strategic benefits and cost savings.
The buyout, which was unanimously approved by Graham's board, is expected to close in the second half of the year. There’s no word yet on what effect, if any, this will have on the Bradford plant.
For more information go here.
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