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Article: HUHTAMAKI OFFERS $974 MILLION FOR VAN LEER.
- Article from:
- Plastics News
- Article date:
- May 10, 1999
- Author:
CopyrightCOPYRIGHT 1999 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Barely a week after selling its confectionery business, Huhtamaki Oy launched a bold US$974 million bid to acquire global packaging giant Van Leer NV.
Huhtamaki of Espoo, Finland, announced it has been in "friendly and constructive" talks with directors of Amstelveen, Netherlands-based Van Leer. Huhtamaki is considering whether the offer should be in cash or a mix of shares and cash.
The Finnish firm predicted the merged group would have sales of $2.8 billion with operations in 55 countries and leadership positions in several consumer and industrial packaging areas.
In a brief statement, Van Leer confirmed it has agreed to enter talks to study ...