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Article: Amcor offers $2b for part of Rio.(DRUG PACKAGING)
- Article from:
- Official Board Markets
- Article date:
- August 22, 2009
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Australia's corrugated box maker Amcor Ltd. has offered to buy part of Rio Tinto Group's Alcan unit for $2.03 billion to become the biggest supplier of drug packaging, reports Bloomberg.
Amcor will get the global pharmaceuticals and tobacco packaging units as well as the Asian and European food businesses Rio acquired in its $38 billion takeover of Alcan Inc. in 2007. The offer will be funded by a $1.3 billion share sale and bank debt.
The takeover, Aancor's biggest, will boost sales 50 percent and may arrest two years of declining profit. ...