Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (2300)	8/17/2010 1:03:07 PM
From: richardred	Respond to of 7252

Pactiv to be acquired by Reynolds for $6 billion Related stories NEW YORK (MarketWatch) -- Pactiv Corp. /quotes/comstock/13*!ptv/quotes/nls/ptv (PTV 32.55, +1.63, +5.29%) said Tuesday it would be acquired by Reynolds Group Holdings Ltd. for $33.25 a share in a deal valued at about $6 billion. The offer represents a 39% premium to Pactiv's May 14 closing price, the last trading day before reports of a potential transaction. The deal is expected to close before the end of 2010. Reynolds has reportedly obtained committed financing for the transaction, consisting of a combination of equity from Reynolds and Rank Group Limited, and committed debt financing provided by affiliates of Credit Suisse, HSBC, and Australia New Zealand Bank. Shares of Pactiv rose 5.4% at last check to $32.59. marketwatch.com