|Bid||0.01 x 800|
|Ask||56.79 x 800|
|Day's Range||53.13 - 53.75|
|52 Week Range||40.50 - 57.00|
|Beta (3Y Monthly)||1.01|
|PE Ratio (TTM)||17.13|
|Earnings Date||May 1, 2019 - May 6, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||61.50|
RPC Group agreed to the higher takeover offer of 793 pence per share in cash in early March, ditching a lower bid from private equity firm Apollo Global Management LLC. Berry's comments come after analysts said the market was hoping for a higher offer. Berry said on Friday it reserves the right to increase the offer if another party comes with an offer or a possible offer for RPC.
Plastics maker Berry Global Group Inc ruled out further sweetening of its 3.34 billion pound ($4.39 billion) bid for British packaging company RPC Group , calling the offer final. RPC Group agreed to the higher takeover offer of 793 pence per share in cash in early March, ditching a lower bid from private equity firm Apollo Global Management LLC. Berry's comments come after analysts said the market was hoping for a higher offer.
Berry Bidco announces that its recommended offer of 793 pence in cash per RPC share is declared final and will not be increased, except that Berry Bidco reserves the right to increase the amount of the Consideration if there is an announcement on or after the date hereof of an offer or a possible offer for RPC by a third party offeror or potential offeror. Berry Bidco has made good progress in relation to the Acquisition and confirms that all regulatory filings in relation to the Acquisition have been submitted to the relevant authorities.
Berry Global Group, Inc. (NYSE:BERY), which is in the packaging business, and is based in United States, led the NYSE gainers with a relatively large price hike in the pastRead More...
The review follows the announcement that Berry has entered into an agreement to acquire RPC Group PLC (Baa3, Rating Under Review for Downgrade) in an all debt financed transaction valued at approximately $6.5 billion, which includes $4.4 billion for the purchase of RPC's equity, transaction expenses of $0.3 billion and roughly $1.8 billion of balance sheet debt, which will need to be refinanced. RPC shareholders will receive GBP7.93 in cash per share.
Once a holding of Apollo, Berry boosted the cash part of its proposal to win backing from RPC’S board. Shareholders would get 793 pence a share in cash, Berry said in a statement on Friday, or 11 pence more than Apollo’s offer. Berry Chief Executive Officer Tom Salmon, already coming off a string of acquisitions, is making the company’s biggest purchase amid a rapidly consolidating market for plastic packaging.
Advised by a team led by the U.S. investment bank and lender Wells Fargo & Co., packaging group Berry Global Group Inc on Friday robbed Apollo Global Management of the acquisition of U.K. peer RPC Group Plc. The transaction shows off Berry’s tactical cunning and opportunism, and exposes a miscalculation by Apollo. To recap, RPC used its last annual meeting to hint it was open to bids. It’s likely that other bidders, Berry among them, had a tentative sniff around back then. But by January Bain had walked and the only formal bid was Apollo’s 782 pence a share offer, which RPC accepted.
RPC, Europe's biggest plastic packaging group, said on Friday it had revoked support for Apollo's offer in favour of Berry Global and said its directors would recommend shareholders to vote in favour of the new offer. Berry's offer of 793 pence in cash for each RPC share is 1.4 percent higher than Apollo's offer, and represents a premium of 3.5 percent to RPC's closing price on Jan. 30, the last day before Berry said it was weighing a bid for RPC.
EVANSVILLE, IND / ACCESSWIRE / March 08, 2019 / Berry Global Group, Inc. (Berry) (BERY) announced today a recommended superior offer to acquire all of the issued and to be issued ordinary share capital of RPC Group Plc (RPC) for 793 pence per share in cash. Aggregate consideration will be approximately £5.0 billion ($6.5 billion), including refinancing of RPC's net debt.
The boards of directors of Berry Global International Holdings Limited (Berry Bidco) and RPC Group Plc (RPC) are pleased to announce that they have reached agreement on the terms of a recommended superior cash offer, to be made by Berry Bidco, pursuant to which Berry Bidco will acquire the entire issued and to be issued ordinary share capital of RPC (the Acquisition). Berry Bidco is a newly incorporated company under the laws of England and Wales, formed by Berry, for the purpose of undertaking the Acquisition.
British packager RPC Group Plc said on Friday it had agreed to be acquired by plastics maker Berry Global Group, ditching an earlier offer made by Apollo Global Management LLC in January. Berry Global ...
Luminus Management is an investment management firm that was founded back in 2002. It provides offices in New York City, NY, and Houston, Texas. Paul Segal launched this fund aiming to invest in companies belonging to utility and energy-related sectors. He was Luminus Management's President and Portfolio Manager until 2011 when he became the Chief […]
(Reuters) - UK's takeover panel said on Tuesday that plastics maker Berry Global Group now has until March 13 to announce a firm intention to make an offer for British packager RPC Group. Berry Global ...
Berry Global Group Inc NYSE:BERYView full report here! Summary * ETFs holding this stock have seen outflows over the last one-month * Bearish sentiment is low Bearish sentimentShort interest | PositiveShort interest is extremely low for BERY with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting BERY. Money flowETF/Index ownership | NegativeETF activity is negative. Over the last one-month, outflows of investor capital in ETFs holding BERY totaled $5.25 billion. Additionally, the rate of outflows appears to be accelerating. Economic sentimentPMI by IHS Markit | NeutralAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Industrials sector is rising. The rate of growth is weak relative to the trend shown over the past year, however. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
(Reuters) - Apollo Global said on Tuesday it signed a memorandum of understanding (MoU) with the trustees of the RPC Containers Limited Pension Scheme, after Apollo agreed to buy packaging products maker ...
Berry Global's (BERY) first-quarter fiscal 2019 earnings increase year over year on solid sales, partially offset by higher costs and expenses.
Berry Global (BERY) delivered earnings and revenue surprises of 5.48% and 2.38%, respectively, for the quarter ended December 2018. Do the numbers hold clues to what lies ahead for the stock?
The Evansville, Indiana-based company said it had net income of 66 cents per share. Earnings, adjusted for one-time gains and costs, were 77 cents per share. The results surpassed Wall Street expectations. ...
Berry Global Group, Inc. today reported its first quarter 2019 results, referred to in the following as the December 2018 quarter.