After over a year, Ball Corp is finally set to complete its takeover of can rival Rexam

After over a year, Ball Corp is finally set to complete its takeover of can rival Rexam

Ball Corp has received the final regulatory clearance needed to proceed with its purchase of Rexam.

The company, which announced its intention to buy Rexam for US$6.6bn over a year ago, said yesterday that the Federal Trade Commission (FTC) in the US has okayed the move. At the same time, the commission also approved the divestment of some Rexam assets to Ardagh Group, a transaction that was agreed to satisfy the European Commission.

The European Commission subsequently granted unconditional approval last week for Ball to swallow Rexam.

Will Ball Corp's patience for Rexam be rewarded with 2016 can bonanza? - Click here for a just-drinks comment

The purchase sees Ball take control of the following Rexam assets:

  • Sixteen existing metal beverage packaging manufacturing plants in the US, Canada and Mexico
  • The Rocky Mountain Metal Container joint venture in Golden, Colorado
  • Beverage can manufacturing plants in Phoenix, Arizona; Chatsworth, California; St Paul, Minnesota; Longview, Texas; Kent, Washington; and Queretaro, Mexico
  • An end manufacturing plant in Birmingham, Alabama, and
  • Joint ventures in Amatitlan, Guatemala and Cristobal, Panama