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Stock Market & Financial Investment News

News Breaks
March 24, 2014
08:31 EDTREXMY, BERYBerry Plastics offers to acquire Rexam's Healthcare C&C business for $135M
Berry Plastics Group (BERY) announced that it has entered into a definitive agreement to acquire the U.S., Mexico, and India portions of Rexam’s (REXMY) Healthcare Containers and Closures business. Berry Plastics has also made a binding offer to purchase the French portion of Rexam’s C&C business, which Rexam may accept after completion of the required consultation process with the works council in France. Upon completion of both transactions, Berry Plastics would pay approximately $135M for the entire Healthcare Containers and Closures business unit, with the closing expected to take place in the second calendar quarter of 2014. The company expects the acquisition, which will be funded from existing liquidity, to be deleveraging after achieving synergies. The Healthcare Containers and Closures business produces bottles, closures and specialty products for pharmaceutical and OTC applications. The transaction includes eight manufacturing locations - five in the United States and one each in Mexico, France, and India, with total employment of approximately 1,500 and 2013 sales of $262M.
News For BERY;REXMY From The Last 14 Days
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January 30, 2015
10:07 EDTBERYHigh option volume stocks
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08:34 EDTBERYBerry Plastics reaffirms FY15 adjusted free cash flow guidance of $320M
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08:33 EDTBERYBerry Plastics reports Q1 adjusted EPS 27c, consensus 26c
Reports Q1 revenue $1.22B, consensus $1.23B.
January 23, 2015
08:19 EDTREXMYBofA/Merrill paper/forest products analyst hold analyst/industry conference call
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January 20, 2015
05:51 EDTBERYU.S. Paper & Packaging sector raiseed to Positive at Barclays
Barclays upgraded the U.S. Paper & Packaging sector to Positive from Neutral saying stocks in the space offer investors an attractive alternative in 2015 due to improving demand and input cost reductions. The firm calls Containerboard its preferred subsector, and recommends a long position in Crown Holdings (CCK) versus Ball Corp. (BLL). The firm downgraded the latter to Equal Weight from Overweight. Barclays also upgraded to Overweight shares of Avery Dennison (AVY). It calls Berry Plastics (BERY) a top pick.

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