Berry Global Group (BERY) Issues Statement on Canyon Capital Letter
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Canyon Capital Wants Berry Global (BERY) to Hire a Banker to De-lever
February 24, 2020 8:31 AM ESTCanyon Capital Advisors LLC, the investment advisor to funds and accounts (together with Canyon Capital Advisors LLC, that beneficially own, in the aggregate, over 9 million shares, or almost 7.0% of the outstanding common stock of Berry Global, Inc. (NYSE: BERY), sent a letter to Berry's Board of Directors and senior management team asking the Company to immediately take the following steps: (1) publicly announce that it has hired an investment bank or other financial advisor to develop a clear plan of action toward accelerated deleveraging; (2) commit to achieving an investment grade rating (and cease M&A activity other... More
