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Wednesday, December 4, 2013

Germany's Gerresheimer loses interest in Rexam unit - paper, (NYSE: BERY)

Germany's Gerresheimer AG has lost interest in the healthcare packaging unit of Rexam Plc, its chief executive was quoted telling a German newspaper on Wednesday. Sources had said last month the German company, which makes pill bottles and syringes, was competing with U.S. packaging companies Berry Plastics Group Inc and Silgan Holding Inc to purchase the healthcare packaging unit of Rexam in a deal expected to fetch a little less than $1 billion.Private equity firms including Bain Capital LLC and KKR & Co LP also put in offers, the sources said."Bottom line is that the Rexam unit did not fulfil our acquisition criteria," Gerresheimer Chief Executive Uwe Roehrhoff was quoted as saying in Handelsblatt.No-one at Gerresheimer could immediately be reached for comment.

Berry Plastics Group, Inc. (Berry) is a provider of plastic consumer packaging and engineered materials. Shares of BERY traded higher by 0.46% or $0.1/share to $21.79. In the past year, the shares have traded as low as $14.47 and as high as $26.50. On average, 966922 shares of BERY exchange hands on a given day and today's volume is recorded at 823382.