Davis Polk Advises Toyo In $775M Stolle Acquisition

Law360, New York (September 30, 2011, 6:37 PM EDT) -- Japanese packaging company Toyo Seikan Kaisha Ltd. said Friday that it would buy U.S.-based can machinery company Stolle Machinery Co. for 59.7 billion yen ($775 million), part of a plan to grow its business through acquisitions.

By acquiring Centennial, Colo.-based Stolle, the world's largest manufacturer of can and end making machinery, Toyo continues what it calls a “midterm plan”— switching strategies from trying to squeeze more profits out of existing business to acquiring new businesses and expanding into foreign markets.

The company said Stolle could help...
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