Pactiv Evergreen ( (PTVE) ) has provided an update.
Pactiv Evergreen Inc. is set to merge with Novolex Holdings, LLC, creating a leading entity in food and beverage packaging. The merger, valued at $6.7 billion, offers Pactiv shareholders $18 per share, and will see Pactiv delisted from Nasdaq. Supported by Apollo Global Management and CPP Investments, the deal enhances product innovation and sustainability, leveraging a broad manufacturing footprint to serve a diverse customer base. The merger is anticipated to close in mid-2025, promising significant growth opportunities in the packaging industry.
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