Ardagh bid for US glass-maker Verallia goes down to wire

Ardagh's planned $1.7bn (€1.2bn) acquisition of US glass business Verallia has gone down to the wire.

There are just four days left before the Irish firm will have to repay $1.5bn in bonds it raised to fund the deal unless it secures the acquisition.  Headed and controlled by Paul Coulson (pictured), Ardagh has been battling the US Federal Trade Commission (FTC) over its planned acquisition of Verallia, which is owned by French industrial giant Saint-Gobain.The FTC sought to block the deal -- which would have been Ardagh's second biggest acquisition -- in July.The watchdog complained that the Verallia purchase by Ardagh would "hurt consumers nationwide" in the United States as it would result in higher costs for drinks containers, and consequently the drinks consumers buy.

Read more here.

600450 Ardagh bid for US glass-maker Verallia goes down to wire glassonweb.com

See more news about:

Others also read

Sika, the Burkard family and Saint-Gobain have signed agreements which terminate and resolve their dispute to the common benefit of all parties involved and that of their respective shareholders and stakeholders.
Saint-Gobain Acquires Italian Company Logli Massimo
Saint-Gobain strengthens its glass solutions portfolio.
Mr. Pierre-André de Chalendar
Compagnie de Saint-Gobain’s Board of Directors decides to propose the renewal of the Director’s term of office of Mr. Pierre-André de Chalendar and to co-opt Ms. Dominique Leroy, CEO of Proximus, as an independent Director.
Wicona provides innovative structural glazing solutions to One Bedford Avenue
WICONA, the specialist manufacturer of glazing and glass curtain walling, has worked with specialist contractor GLASSOLUTIONS to deliver the glazing and facades package for One Bedford Avenue, a flagship mixed use development in Central London.
Windows, Doors & Facades 2017: A continuing success story
The fair in Dubai is the central meeting place for worldwide manufacturers and distributors of window, door and facade products.
Providing a clear and safer vision: A new glass solution for LNG Carriers
Vetrotech Saint-Gobain, introduces THERMOVIT© PRO A0, an electrically heated glass solution with A0 fire-resistance in line with IGC International Code for Liquefied Natural Gas (LNG) Carriers.

Add new comment