Ball To Snap Up Aerocan For €221M

Law360, New York (December 8, 2010, 12:58 PM EST) -- Ball Corp. revealed plans Wednesday to acquire European aluminum aerosol container manufacturer Aerocan SAS from private equity group Barclays PLC for €221 million ($292 million), a move the company said would broaden its footprint in the metal packaging industry.

The Broomfield, Colo.-based company said the definitive agreement to acquire Aerocan was inclusive of the European company's debt and other liabilities, and that after-tax returns from the acquired business were expected to exceed Ball's return requirements.

Aerocan manufactures aluminum aerosol cans and bottles, and aluminum slugs used...
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