Apollo, G-P, Rank Mull Acquisition of Pactiv

Private equity firm Apollo Global Management, Chicago, Ill., USA, reportedly is in talks to buy U.S. packaging company Pactiv Corp., Lake Forest, Ill., in a leveraged deal, according to media reports. As reported by Reuters this week, Pactiv has about $1.5 billion in debt and the Apollo deal would be among the largest leveraged buyouts in the past two years, according to the Wall Street Journal. The WSJ said any deal is a few weeks away and faces several hurdles. Subsequently, the WSJ reported that Georgia-Pacific, Atlanta, Ga., and New Zealand's Rank Group are also bidding for Pactiv.

Demand for Pactiv's products waned during the recession as consumers ate out less but there has been some improvement in recent months, Reuters reports.

TAPPI
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