Pactiv and Reynolds Announce Expiration of HSR Waiting Period for Proposed Merger
23 Setembro 2010 - 5:15PM
Business Wire
Pactiv Corporation (NYSE: PTV), a leader in the consumer and
foodservice packaging markets, and Reynolds Group Holdings Limited,
a leading global manufacturer and supplier of consumer food and
beverage packaging and storage products, today announced that the
waiting period under the Hart-Scott-Rodino Antitrust Improvements
Act of 1976, relating to Reynolds Group’s proposed merger with
Pactiv, has expired, thereby satisfying a condition to the closing
of the transaction. Completion of the transaction remains subject
to other customary closing conditions, including approval by
Pactiv’s stockholders and foreign regulatory approvals. The
transaction is expected to close by the end of 2010.
Important
Information
In connection with the proposed merger, Pactiv filed a
preliminary proxy statement with the Securities and Exchange
Commission (the “SEC”) on August 30, 2010. The preliminary proxy
statement is not yet final and will be amended. INVESTORS AND
STOCKHOLDERS OF PACTIV ARE URGED TO READ THE PRELIMINARY PROXY
STATEMENT AND THE DEFINITIVE VERSION THEREOF WHEN IT BECOMES
AVAILABLE, AS WELL AS ANY OTHER RELEVANT DOCUMENTS FILED WITH THE
SEC AS THEY BECOME AVAILABLE BECAUSE THEY CONTAIN AND WILL CONTAIN
IMPORTANT INFORMATION ABOUT PACTIV AND THE PROPOSED MERGER. The
definitive proxy statement in connection with the proposed merger
will be mailed to the stockholders of Pactiv. The preliminary proxy
statement, the definitive proxy statement (when it becomes
available), other relevant materials (when they become available),
and any other documents filed by Pactiv with the SEC, may be
obtained, without charge, from the SEC’s website at www.sec.gov or
by request to Pactiv Corporation, Attention Corporate Secretary,
1900 W. Field Court, Lake Forest, IL 60045; 866-456-5439;
www.pactiv.com.
Certain Information Regarding
Participants
Pactiv and its executive officers, directors and other members
of its management and employees may be deemed to be participants in
the solicitation of proxies from the stockholders of Pactiv in
connection with the proposed merger. Information about the
executive officers and directors of Pactiv and their ownership of
Pactiv common stock is set forth in the preliminary proxy statement
filed by Pactiv on August 30, 2010.
Cautionary
Statements
Statements about the expected timing, completion, and effects of
the proposed merger between Pactiv and Reynolds constitute
forward-looking statements. A variety of factors could cause actual
results to differ materially from those projected in the
forward-looking statements, including, among other things, failure
to obtain stockholder approval, failure of financing, or failure to
satisfy other closing conditions. More detailed information about
other risks and uncertainties is contained in Pactiv’s Annual
Report on Form 10-K at page 23 filed with the SEC as revised and
updated by Forms 10-Q and 8-K as filed with the Commission.
This news release is not an offer to sell or a solicitation of
an offer to purchase any indebtedness used to finance the
acquisition of Pactiv and shall not constitute an offer,
solicitation or sale in any state or jurisdiction in which, or to
any person to whom such an offer, solicitation or sale would be
unlawful. Any indebtedness used to finance the acquisition of
Pactiv may not be registered under the United States Securities Act
of 1933, as amended, and may not be offered or sold within the
United States absent registration or an applicable exemption from
registration requirements.
About Pactiv
Pactiv Corporation (NYSE: PTV) is a leader in the consumer and
foodservice/food packaging markets it serves. With 2009 sales of
$3.4 billion, Pactiv derives more than 80 percent of its sales from
market sectors in which it holds the No. 1 or No. 2 market-share
position. Pactiv’s Hefty® brand products include waste bags, slider
storage bags, disposable tableware, and disposable cookware.
Pactiv’s foodservice/food packaging offering is one of the broadest
in the industry, including both custom and stock products in a
variety of materials. For more information, visit
www.pactiv.com.
About Reynolds Group Holdings
Limited
Reynolds Group is a leading global manufacturer and supplier of
consumer food and beverage packaging and storage products and
operates through five primary segments: Reynolds Consumer, Reynolds
Foodservice, SIG, Evergreen and Closures. Reynolds Group is based
in Auckland, New Zealand. Additional information regarding Reynolds
Group is available at www.reynoldspkg.com.
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