Rexam Finds a Buyer for Its Closures Business

We agree with the strategic rationale for the disposition and believe it is in shareholders' best interests for Rexam to focus on metal packaging

Thomas Mullarkey, CFA 21 June, 2011 | 10:02AM
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Rexam (REX) has agreed to sell its closures business to privately held Berry Plastics for $360 million (about £222 million). We anticipate that once the proposal obtains the required regulatory approval, it should close sometime during the third quarter.

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Thomas Mullarkey, CFA  is an equity analyst at Morningstar.

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