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Bids, Mergers and Takeovers

Competition concerns in Brazil over offer for Rexam

05 October 2015 11:27

Earlier this year the Boards of Ball Corporation and Rexam announced the terms of a recommended cash and share offer by Ball UK Acquisition, a wholly-owned subsidiary of Ball, for the entire issued and to be issued share capital of Rexam.

Ball has now reported that confirms that CADE in Brazil has concluded the first stage of its investigation into the proposal.

The General Superintendent of CADE has issued an opinion which expresses competition concerns regarding unconditional clearance of Ball's proposed acquisition of Rexam.

Ball says it disagrees that the proposed transaction would harm competition in Brazil but intends to work with CADE's commissioners to find a solution which will address any concerns that it may have.

It is expected that all necessary regulatory clearances will be obtained by the first half of 2016.

At 11:27am: (LON:REX) Rexam PLC share price was +5p at 532p

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