berry plastics to buy aep industries to expand in north america
Bairui plastic Group Co. , Ltd. BERY. N)
It said it would acquire AEP industrial company AEPI.
O, in a $0. 765 billion deal, including debt, expanded its presence in North America, making it stretched.
Based on Berry plastic close of August.
AEP shareholders will receive $110 in cash or $2.
5011 shares of Berry plastic per AEP.
The price quoted is a premium of 42.
AEP closed 9% kilometers on Wednesday.
Plastic Packaging Product Manufacturers said on Thursday that after the end of stock and cash trading, AEP shareholders will have about 5% of Berry plastic on a fully diluted basis. AEP’s long-
Long-term debt reached $209.
As at April 30, 7 million per cent.
\"AEP, along with Berry\'s engineering materials division, has created an impressive packaging film producer for the North American market,\" said Jon Rich, CEO of Berry Plastics . \".
Berry Plastics, which produces tape, spray adhesives and food packaging films, said it would fund the cash portion of the deal with existing cash and new term loans.
In July, Berry Plastics offered to buy Avintiv Inc. for about $2, which produces materials used in products such as diapers and sterilized wipes.
Blackstone Group LP Cash 45 billion (BX. N).
Montwell, New Jersey
AEP\'s flexible plastic packaging products are available in the consumer, industrial and agricultural markets.
The transaction is expected to be completed in December and will increase Berry plastic\'s adjusted net income and adjusted free cash flow.
Citigroup is a financial adviser to Berry Plastics, while Bank of America Merrill Lynch is a consultant to the AEP industry.