Ardagh buys Anchor Glass for 721 mln euros

Packaging Group Ardagh has announced a deal to buy a north American rival for $880 million (€721 million), marking the company’s third major takeover this year.

Dublin-based Ardagh said yesterday it had agreed to acquire the Tampa, Florida-headquartered Anchor Glass Container Corporation in an all-cash deal which it plans to finance with $920 million of junk bonds. Excess cash raised by the new bonds would be used to refinance existing debt.

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