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| Saint-Gobain acquires Verallia North America French building materials group Saint-Gobain has entered into exclusive negotiations with the Ardagh Group following the latter's offer to acquire Verallia North America for an enterprise value of $1,694 million (around €1,275 million), representing 6.5 times 2012 EBITDA (around $261 million). The binding and irrevocable offer is not conditional upon financing being arranged. With revenue of $1,621 million and operating profit of $171 million in 2012, Verallia North America is the second largest glass container manufacturer in the United States, behind Owens-Illinois. The company has 13 plants spread across the country, and employs more than 4,400 people. Compagnie de Saint-Gobain will decide whether to accept the offer after the Works Council has been consulted and has given its opinion. The transaction will be subject to authorization by the United States anti-trust authorities. write your comments about the article :: © 2013 Construction News :: home page |