BUZZ-Pactiv Evergreen gains after Novolex's $6.7 bln take-private deal

Reuters
09 Dec 2024
BUZZ-Pactiv Evergreen gains after Novolex's $6.7 bln take-private deal

** Shares of packaging products maker Pactiv Evergreen PTVE.O rise 19.2% to $17.50 premarket

** Apollo Global Management-owned APO.N Novolex to take PTVE private in a $6.7 bln deal

** Novolex will acquire PTVE for $18 per share in an all-cash transaction, including debt

** Deal represents 32.4% premium to PTVE's closing price on Dec. 2, a day before Bloomberg News first reported that Novolex was considering purchasing the company

** Shares of APO up 5.4% before the bell

** Up to last close, PTVE up 7% and APO up ~91% YTD

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))

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