March 14 at 6:23 a.m.
Filed under:
M&A,
Pharmaceuticals
By CNN
Warren Buffett. (Mandel Ngan/AFP/Getty Images)
Warren Buffett’s investment company, Berkshire Hathaway, said Monday that it has agreed to buy the chemical company Lubrizol for $9.7 billion.
Berkshire Hathaway and Lubrizol said the deal was for 100 percent of all outstanding shares at $135 per share. That’s a 28 percent premium over Lubrizol’s closing price on Friday of $105.44 per share, and is 18 percent higher than the company’s highest-ever closing price, according to the companies.
The deal includes $700 million in assumed debt.
Berkshire described the deal as “one of the largest acquisitions in Berkshire Hathaway history.“ Get the full story »
March 3 at 7:03 a.m.
Filed under:
Manufacturing
From the Springfield News-Leader | The Solo Cup Co. plant in Springfield, Mo. shut down its manufacturing Wednesday after nearly 60 years of operations. Lake Forest-based Solo announced plans to close the plant in June 2010. The shutdown puts about 340 people out of work. | Get the full story>>
Nov. 5, 2010 at 11:49 a.m.
Filed under:
Earnings,
Manufacturing
By Reuters
Specialty metals and plastics distribution company A.M. Castle & Co. posted a quarterly profit, below market estimates, on higher cost of materials and said it expects to report a small net loss for the fourth quarter. Get the full story »
Nov. 1, 2010 at 8:39 a.m.
Filed under:
Earnings
By Dow Jones Newswires
Pactiv Corp. reported a 14 percent drop in third-quarter earnings on prior-year earnings from discontinued operations as the maker of Hefty garbage bags and other packaging products reported higher volume but lower margins on a jump in raw-material costs. Get the full story »
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 »
