Berry Plastics' (BERY) Price Target Raised to $56 at Deutsche Bank Following AEP Deal
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Berry Plastics Group (BERY) to Acquire AEP Industries (AEPI) for $765M
August 25, 2016 7:02 AM EDTBerry Plastics Group, Inc. (NYSE: BERY) and AEP Industries (NASDAQ: AEPI) have entered into a definitive merger agreement under which Berry will acquire all of the outstanding shares of AEP in a cash and stock transaction. Aggregate consideration will be $765 million, including AEPs net debt. Each AEP shareholder will elect to receive either $110 in cash or 2.5011 shares of Berry common stock per AEP share in the transaction, subject to an overall 50/50 proration to ensure that 50% of the total outstanding AEP shares are exchanged for the cash consideration.... More
