U.S.-based can maker Ball Corporation is in discussions with multinational packaging corporation Rexam PLC concerning a possible takeover of Rexam.
The proposed transaction includes a combination of cash and equity.
In a statement to the London Stock Exchange Rexam said “discussions on other matters are continuing and there can be no certainty any formal offer will be forthcoming, or as to the terms of the offer”.
Ball Corporation supplies innovative, sustainable packaging solutions for beverage, food and household products customers, as well as aerospace and other technologies and services primarily for the U.S. government. Ball Corporation and its subsidiaries employ 14,500 people worldwide and reported 2014 sales of US$8.6 billion.
Rexam PLC is a British multinational consumer packaging company headquartered in London, U.K., and is said to be the largest manufacturer of beverage cans in the world and a leading producer of rigid plastic packaging.