Ball to buy Rexam?
Whilst no formal offer has been made, it has come to light that Ball and Rexam are in talks that may see the US can maker buy out its British competitor.
Ball has valued Rexam at 610 pence per share, which is higher than London traded shares yesterday at 541.5.
Ball has a deadline of 5th March to decide whether to make a formal offer under UK takeover rules.
Both companies have released statements confirming the talks are taking place and are ongoing.
Albert Kabili, a research analyst at Macquarie Research told Reuters “The combination, strategically, just makes a ton of sense.”