Ball Corp. Announces Proposed Acquisition Of Rexam Plc In Cash And Stock Deal

(RTTNews) - The Boards of Ball Corp. (BLL) and Rexam plc (REX.L, REXMY.PK) announced that they have reached agreement on the terms of a recommended offer in the form of cash and shares pursuant to which Bidco, a wholly-owned subsidiary of Ball, will acquire the entire issued and to be issued ordinary share capital of Rexam.

Under the terms of the offer, Rexam ordinary shareholders will be entitled to receive: for each Rexam ordinary share held 407 pence in cash and 0.04568 of a New Ball share.

In addition, Rexam ordinary shareholders will be entitled to the 2014 final dividend of 11.9 pence announced by Rexam, subject to shareholder approval, and to any other dividends declared or paid by Rexam in respect of any completed six-month period ended 30 June or 31 December, provided that such dividends do not exceed the corresponding interim or final dividend paid or declared in respect of 2014.

Upon completion of the offer, Rexam ordinary shareholders will hold New Ball shares representing approximately 19 percent of the enlarged Ball share capital (excluding shares held in Treasury), assuming that approximately 32 million New Ball shares are issued pursuant to the offer. Following closing of the transaction, Ball will remain a New York Stock Exchange listed company domiciled in the U.S.