Business
Rank succeeds in SIG takeover bidstevenkiernan, 22 March 2007Be the first to comment on this article Rank Group is set to become the worlds second-largest producer of beverage packaging, behind Tetra Laval, after SIG Holding accepted the New Zealand companys latest offer of 183 (CHF435) per share. The Swiss drinks carton manufacturer said Rank’s offer “adequately reflects the company’s inherent value”. The SIG board also supported Rank’s proposal to continue trading under the SIG name and maintain the current management team and headquarters. The final results of the offer are scheduled to be published on 4 April. The takeover should be completed some time after SIG’s annual general meeting on 7 May. Rank beat off competition from Ferd, the owner of Elopak, and CVC Capital Partners to take ownership of SIG. The purchase follows Rank’s recent acquisition of International Paper’s beverage packaging division. Speak Your Mind |
Popular Articles
|
Loading ...
