December 10, 2024 16:00

Less than a month after the announcement of the merger between Amcor and Berry Global (read article), two other major entities in the packaging and disposable consumer goods sector, Novolex and Pactiv Evergreen, have decided to join forces.

This signals a trend toward consolidation into increasingly large and diversified groups.

The transaction is valued at $6.7 billion and involves Novolex acquiring the entire share capital of Pactiv Evergreen at a price of $18 per share, representing a 49% premium to the two-month unaffected volume weighted average trading price as of December 2, 2024, the last trading day prior to media reports regarding a potential transaction.