(Reuters) – Apollo Global Management-owned Novolex will buy packaging products maker Pactiv Evergreen in a $6.7 billion deal, the companies said on Monday.
Shares of Pactiv were up about 19% in premarket trading.
Novolex will offer $18 per share for the all-cash transaction, including debt, which would take Pactiv private.
The deal represents a 32.4% premium to Pactiv’s closing price on Dec. 2, a day before Bloomberg News first reported that Novolex was considering purchasing the company.
(Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Shilpi Majumdar)
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