Pactiv/Reynolds Group
On August 17, 2010. Pactiv Corp. (NYSE: PTV), the maker of Hefty brand trash bags, announced an agreement to be acquired by Reynolds Group Holdings for approximately $4.4 billion, or around $6 billion including debt.
Pactiv will be acquired for $33.25 per share in cash, which was a 7.5 percent over the prior day's close. The offer represented a 38.7 percent premium to the price of Pactiv on May 17 when it first intended to sell itself.
The deal is expected to close by the end of 2010.
Credit Suisse acted as lead financial advisor to Pactiv with respect to the transaction. Perella Weinberg Partners LP acted as independent financial advisor to the board of directors of Pactiv and rendered a financial fairness opinion. Skadden, Arps, Slate, Meagher and Flom LLP is acting as legal counsel to Pactiv.
-
Notable 52-Week Highs and Lows of the Day 11/11: HAL, BIDU, IR, FTK High; ANW, RINO, SRDX, CELH Low
-
S&P Announces Changes to US Index: IR for PTV in S&P 500
