Ghansham Panjabi News
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Avery Dennison Corp. closed at the highest price since July 2011 after reporting quarterly profit that beat analysts’ estimates and agreeing to a deal for its office products unit that 3M Co. scrapped a bid for in October.
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3M Co.’s retreat from a $550 million office-products purchase amid regulatory pressure will let it focus on an even bigger acquisition while forcing deal partner Avery Dennison Corp. to put the unit back on the block.
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Reynolds Group Holdings Ltd., the packaging company owned by New Zealand billionaire Graeme Hart, agreed to acquire Graham Packaging Co. for $1.68 billion, beating Silgan Holdings Inc. for the plastic-container maker.
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Leucadia National Corp. agreed to buy the portion of Jefferies Group Inc. it doesn’t already own for about $2.76 billion.
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Sherwin-Williams Co., the largest U.S. paint retailer, agreed to acquire closely held Consorcio Comex SA de CV for about $2.34 billion including debt to gain Mexico’s largest paint maker as housing demand improves. The shares rose the most in more than a year.
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3M Co. dropped its $550 million takeover of Avery Dennison Corp.’s office-products unit after the U.S. Justice Department said it would sue if the companies didn’t abandon the transaction.
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Rank Group Ltd., the packaging company owned by New Zealand billionaire Graeme Hart , is the bidder that submitted an unsolicited $1.64 billion cash takeover offer for Graham Packaging Co. , according to a person with knowledge of the matter.
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Campbell’s soup and Chef Boyardee pasta are banned from Lori Popkewitz Alper’s pantry in Bedford, Massachusetts, because the mother of three says her family may be harmed by the chemical that lines the metal containers.
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Sealed Air Corp., the maker of Bubble Wrap, dropped the most in more than three years after posting second-quarter earnings that trailed analysts’ estimates and announcing plans to pursue “strategic options.”
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Sealed Air Corp. is poised to turn into a takeover target after its biggest acquisition in more than a decade wiped out a third of its market value and left the maker of Bubble Wrap trading at a 64 percent discount to sales.
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