Novolex to take packaging products maker Pactiv private in $6.7 bln deal (updated)

Pactiv Evergreen

09/12/2024 13:41

(Adds details in paragraphs 3-4)
       Dec 9 (Reuters) - Apollo Global Management-owned  APO.N 
Novolex will buy packaging products maker Pactiv Evergreen
 PTVE.O  in a $6.7 billion deal, the companies said on Monday.
    Shares of Pactiv were up about 19% in premarket trading.
    Novolex will offer $18 per share for the all-cash
transaction, including debt, which would take Pactiv private.
    The deal represents a 32.4% premium to Pactiv's closing
price on Dec. 2, a day before Bloomberg News first reported that
Novolex was considering purchasing the company.

 (Reporting by Anuja Bharat Mistry in Bengaluru; Editing by
Shilpi Majumdar)
 ((AnujaBharat.Mistry@thomsonreuters.com))