Rexam PLC, the world s largest maker of beverage cans, was cleared by the Federal Trade Commission yesterday to complete its $1.83 billion purchase of Owens-Illinois Inc. s plastic business.
The acquisition will add about 50 percent to Rexam s sales in the industry. The takeover will also make London-based Rexam the largest U.S. supplier of pill bottles.
The plastics unit of O-I had sales of $772 million last year. It operates 18 plants in the United States, Mexico, Brazil, Hungary, Singapore, and Malaysia.