Ball Corp. Receives Statement Of Objections From EC On Proposal To Buy Rexam

(RTTNews) - Ball Corp. (BLL) confirmed that it received a Statement of Objections or SO from the European Commission in relation to its proposal to buy Rexam Plc. (REX.L, REXMY.PK).

Ball said it took note of the European Commission's provisional objections and concerns as outlined in the SO.

In addition, Ball said it values the insight which the SO brings on the on-going EU regulatory process. It is the view of Ball that the concerns raised in the SO allow the parties to develop the appropriate and adequate remedy package to bring about the successful clearance by the EU's competition authority of this proposed acquisition.

It is expected that all necessary regulatory clearances will be obtained to enable the proposed acquisition to close during the first half of 2016. Following closing of the transaction, Ball will remain a New York Stock Exchange listed company domiciled in the U.S.

In February 2015, Ball Corp. offered to acquire beverages-can maker Rexam in a cash and stock deal valued at 5.4 billion pounds or $8.4 billion, including the assumption of net debt.