Aug. 17, 2010 at 10:20 a.m.
Filed under:
M&A,
Updated
By Ameet Sachdev
Pactiv's new owner, Rank Group, sells products like Reynolds Wrap foil. (Bill Hogan/Chicago Tribune)
Pactiv Corp., the Lake Forest maker of Hefty trash bags, announced an agreement Tuesday to be acquired by New Zealand’s Rank Group Ltd. in a transaction valued at about $6 billion.
Privately-held Rank Group will pay $33.25 in cash for each Pactiv share, or about $4.6 billion. The sale price represents a premium of about 39 percent over Pactiv’s closing price of $23.97 on May 14, the day prior to published reports regarding a potential transaction.
Rank Group also will assume Pactiv’s $1.5 billion debt. Pactiv said the deal is targeted to close by the end of the year. Get the full story »
July 29, 2010 at 11:01 a.m.
Filed under:
Autos,
Earnings
By Reuters
Auto parts maker Tenneco Inc. on Thursday posted a second-quarter profit that surged past Wall Street expectations, as auto production rose by 72 percent in North America, its largest market.
Tenneco shares rose more than 6 percent in morning trading, to $25.61. Get the full story »
June 4, 2010 at 10:31 a.m.
Filed under:
Autos,
Earnings,
Manufacturing
From Investor’s Business Daily | Lake Forest-based auto parts maker Tenneco fell five percent during brisk early morning trading, along with the major indexes, which tumbled after news of a weaker-than-expected jobs report.
Get the full story: investors.com.
