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 up sharply Wednesday and climbed during the first hour of trade. The stock gave back some of its gains around the middle of the morning and finished higher by $2.69 at $47.85 on above average volume. Shares have been gaining ground for over a week and closed at over an 11-month high.
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