Simpson Thacher is representing Owens-Illinois, Inc., in connection with the proposed sale of Owens-Illinois Plastics FTS, Inc. (“O-I Plastics”), to Rexam PLC for approximately $1.825 billion in cash. The proposed transaction, which signed on June 11, 2007, is subject to customary closing conditions and is expected to close early in the third quarter of 2007. The transaction is also subject to Rexam shareholder approval.
O-I Plastics designs, manufactures, and sells plastic packaging and closures for pharmaceutical, healthcare, food and beverage, personal care, household and automotive industries.
The Simpson Thacher team working on this deal includes: Alan Klein, Shalini Aggarwal, Yi Gao and summer associate Hayley Urkevich (M&A), Susan Kaufman (Employee Benefits), Diane Gipstein (Tax), Lori Lesser, Ivan Rothman and Kirstie Howard (Intellectual Property), Adeeb Fadil and Noreen Lavan (Environmental), Scott Dyer (Labor) and Joe Tringali, Michael Naughton, Jonathan Parker and Olivier Antoine (Antitrust).