Rexam agrees to £5.4bn takeover, predicts tough year ahead
19th Feb 2015 08:20
The board of drinks packaging group Rexam has agreed a £5.4bn takeover by US rival Ball Corporation, a much larger higher valuation than had been expected by the market. Rexam's management has unanimously recommended the 628p-per-share offer by New York-listed Ball, made up of 407p in cash and 0.045
Read moreBall closes in on Rexam deal
18th Feb 2015 19:31
US packaging giant Ball is closing in on a deal to buy sector peer Rexam, in a move that would give see it become the world's largest can maker. According to sources cited by MarketWatch, the Colorado-based company and Rexam could be announced by the end of the week. Earlier in February, the group
Read moreLondon close: Stocks end slightly higher despite mixed Eurozone news
5th Feb 2015 17:20
Mixed newsflow from the Eurozone kept financial markets busy on Thursday, though a late rally pushed UK stocks into positive territory by the close. London's FTSE 100 finished the day up just 0.1% at 6,866, but had bounced strongly after hitting an intraday low of 6,808.19. The European Central Ban
Read moreRexam rockets on £4.3bn proposal from Ball Corp
5th Feb 2015 16:48
Rexam's share price surged on Thursday after the beverage can maker confirmed rumours that it has been approached by Ball Corporation. Rexam's shares were up nearly 21% at 539.5p by the close after the company said it had held talks with Ball Corporation over a cash-and-shares takeover proposal. Ba
Read moreSector movers: Industrial stocks rise as bid speculation boosts can maker Rexam
5th Feb 2015 15:58
M&A speculation surrounding Rexam sparked a surge in industrial stocks in London on Thursday after the beverage can maker confirmed rumours that it has been approached by Ball Corporation. Rexam's shares were up nearly 21% at 539.5p by the close after the company said it had held talks with Ball Cor
Read moreFTSE 250 movers:Premier Farnell plummets on weak outlook, Rexam up on M&A interest
5th Feb 2015 14:57
Electronics group Premier Farnell sank after warning that its full-year operating profit for 2015 would be lower than in the previous 12 months. The company cited discounting of the credit-card sized computer Raspberry Pi and strategic initiatives as the main factors weighing on its gross margins, w
Read moreLondon midday: Stocks retreat as Greek concerns rise
5th Feb 2015 12:08
UK stocks fell for a second day on Thursday as optimism surrounding the situation in Greece began to fade and a raft of corporate earnings and updates received a mixed reaction from the market. London's FTSE 100 was down 0.4% at 6,830 by midday, though had bounced off a low of 6,808.19 reached early
Read moreRexam acquires 51% of United Arab Can Manufacturing Limited
22nd Jan 2015 15:03
Beverage can maker Rexam has completed the acquisition of a 51% stake in beverage can maker United Arab Can Manufacturing Limited. The FTSE 250 group did not provide any financial details on the deal, which was originally announced in February 2014. On Thursday, the group had its target price lower
Read moreRexam announces Central America expansion
15th Jan 2015 07:01
Beverage cans producer Rexam has completed an investment in Envases Del Istmo SA (Endelis), a single line beverage can plant in Colón, Panama. Under the deal, which was carried out in partnership with Envases Universales de Mexico (EUM), Rexam will now have access to long-term supply agreements with
Read moreFTSE 250 movers: St. Modwen climbs as Electrocomponents slides
13th Nov 2014 15:50
St. Modwen Properties rose after announcing that its 50/50 joint-venture French partner Vinci has been granted planning permission to redevelop the 57-acre New Covent Garden Market site in south London. The major 10-year project will see the delivery of over 500,000 square feet of new state-of-the-a
Read moreBroker tips: Tullow Oil, Standard Life, Wolseley, Rexam
13th Nov 2014 15:12
Westhouse Securities has lifted its stance on oil explorer Tullow Oil from 'add' to 'buy', hailing the potential of the company's portfolio of assets. The broker said it now sees "substantial upside" to the stock, with shares now worth just over half of what they were six months ago. However, it has
Read moreLondon midday: UK stocks buoyed by central-bank speculation
13th Nov 2014 11:47
UK stocks rebounded on Thursday, heading for their highest close in over six weeks, as markets shrugged off disappointing economic data in China and were buoyed by speculation that policymakers will take action to avert a global slowdown. The FTSE 100 was up 0.3% at 6,634 by midday - it has not clos
Read moreCharles Stanley cuts profit forecasts for Rexam on cautious outlook
13th Nov 2014 11:19
Beverage can maker Rexam said it traded in line with expectations in the third quarter, but a gloomy outlook for 2015 has prompted broker Charles Stanley to cut forecasts and repeat its 'hold' recommendation. Rexam is reviewing its cost base in light of an expected challenging environment in 2015, w
Read moreRexam canned after costs fizz higher
13th Nov 2014 09:00
A challenging market and exposure to fizzing metals prices has led drinks can maker Rexam to warn that increasing costs will put a significant dent in next year's profits. Although overall global beverage can volumes were up 4% since 1 July and overall performance for the period remained in line wit
Read moreLondon close: Ebola and economic woes hit stocks
7th Oct 2014 16:22
London shares were on their sickbed on Tuesday as investors fretted about the Ebola virus and disappointing economic data, although takeover activity buoyed miners. The FTSE 100 Index closed 68.07 points adrift at 6495.58 as a fresh case of Ebola in Spain hit shares in airlines and travel compani
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