Ball Corp. (BLL) announced Wednesday morning that it signed a definitive agreement to acquire four Anheuser-Busch InBev packaging plants in the U.S. for $577 million. The deal is expected to close at the end of the year or early in the first quarter of 2010 and be accretive to Ball's earnings and cash flow in 2010.
Ball Corp. gapped open sharply higher Wednesday and has continued to rise on above average volume. Shares are now higher by 3.03 at $48.19. The stock has been rising for over a week and has climbed to over an 11-month high.
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