BLL
Ball Corp
Industrial/Transportation, Event Driven/Special Sit
01/25/2016
Presented
| Date | 01/21/2016 |
| Price | $33.53 |
| Market Cap | $9.45B |
| Ent Value | $11.89B |
| P/E Ratio | 31.34x |
| Book Value | $3.80 |
| Div Yield | 0.78% |
| Shares O/S | 281.72M |
| Ave Daily Vol | 2,521,428 |
| Short Int | 6.64% |
Current
| Price | $66.03 |
| Market Cap | $20.04B |
| Ball Corp. provides metal packaging for beverages, foods and household products, and of aerospace and other technologies and services to commercial and governmental customers. It operates through the following segments: Metal Beverage Packaging, Americas and Asia; Metal Beverage Packaging, Europe; Metal Food and Household Products Packaging, Americas; and Aerospace and Technologies. The Metal Beverage Packaging, Americas and Asia, segment consists of the metal beverage packaging, Americas, operations in the U.S., Canada and Brazil, and the metal beverage packaging, Asia, operations in the People's Republic of China. The Metal Beverage Packaging, Europe, segment consists of operations in several countries in Europe, which manufactures and sells metal beverage containers, extruded aluminum aerosol containers and aluminum slugs. The Metal Food and Household Products Packaging, Americas, segment consists of operations in the U.S., Canada, Mexico and Argentina, which manufactures and sells metal food, aerosol, paint and general line containers, as well as decorative specialty containers, extruded aluminum aerosol containers and aluminum slugs. The Aerospace and Technologies segment consists of the manufacture and sale of aerospace and other related products and the providing of services used in the defense, civil space and commercial space industries. The company was founded by Edmund Burke Ball, Frank Clayton Ball, George A. Ball, Lucius Lorenzo Ball and William Charles Ball in 1880 and is headquartered in Broomfield, CO. |
Please note, this stock split on 05/17/2017 at a ratio of 2/1. The presented data has been updated to account for the change, however, the text of the note may refer to data based on the original presented price of $67.06.
Publicly traded companies mentioned herein: Ball Corporation (BLL), Crown Holdings Inc (CCK), Rexam PLC (REX LN)
Highlights
The presenter briefly reviewed the Ball Corporation (BLL) bid to acquire Rexam, which will likely create the largest global supplier of food and beverage cans. The company has received conditional clearance from both the European Commission and Brazilian authorities to move ahead with the deal, so the market is about to move from three main players down to two (Ball/Rexam and Crown). Given how closely the FTC and European Commission typically coordinate on such matters, and BLL’s agreement to divest assets in Germany, the UK, and Switzerland, he sees a high probability of US approval being received and the deal closing by the end of Q1 2016. Skepticism about the deal’s prospects and FX exposure are an overhang on the share price, which is why investors have the opportunity to buy in at ~$68.
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