Ardagh Restructures $2B Deal To Assuage FTC Worries

Law360, New York (September 20, 2013, 7:01 PM ET) -- Irish glass packaging company Ardagh Group SA announced Friday that it has begun restructuring its proposed $1.7 bid for the North American packaging unit of France’s Saint-Gobain SA after the Federal Trade Commission challenged the deal.

In an effort to assuage the watchdog's worries about the anti-competitive effects of Ardagh's acquisition of Verallia North America, the company said it will sell four glass container manufacturing plants.

“Whilst Ardagh firmly believes that its acquisition of VNA, as originally structured, is fully consistent with the antitrust laws, it is...
To view the full article, register now.