Ball Corporation is considering the acquisition of British beverage can maker Rexam, in a deal worth $6.6bn.
If materialised, the deal would combine two beverage can makers to form an industry giant that will withstand increasing aluminum costs. The company said it would pay £6.10 per share to Rexam.
At present, the outcome of the deal is uncertain. Ball will announce whether the acquisition will take place by 5 March.
Headquartered in the UK, Rexam employs close to 8,000 people and offers beverage cans packaging solutions comprising aluminum and steel cans for carbonated soft drinks, beer, and energy drinks.
Rexamh has a presence in Europe, Africa, the Middle East, Asia, North America, and South America, and operates 55 plants across 20 countries. It generated £3,943m in net sales during the year 2013.
Upon completion of the acquisition, Rexam will secure access to the Chinese market.
Ball Corporation supplies sustainable packaging solutions for beverage, food and household products customers, as well as aerospace and other technologies and services primarily for the US Government.
Along with its subsidiaries, Ball Corporation employs 14,500 people across the globe and generated $8.6bn in 2014 sales.