(Adds Orora's statements and details in paragraphs 2-5)
Sept 1 (Reuters) - Australian packaging firm Orora Ltd (ORA) said on Friday it is not in a position to announce a deal for the acquisition of French high-end glass bottles manufacturer Saverglass SAS.
Shares of the company will continue to be under voluntary suspension, Orora said, adding that it will be able to officially announce the deal just before the stock resumes trading on Sept. 5.
Orora on Wednesday had confirmed about advanced discussions regarding the acquisition.
The Hawthorn-headquartered company made "substantial progress" in negotiations with the owners of Olympe SAS, which is a holding company of Saverglass, the company noted in a statement.
Orora said it was in the process of finalising funding arrangements for the potential transaction.
News: ORA UPDATE 1-Australia's Orora delays potential Saverglass buyout announcement
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Last
$2.31 |
Change
0.000(0.00%) |
Mkt cap ! $2.966B | |||
| Open | High | Low | Value | Volume |
| $2.32 | $2.33 | $2.27 | $3.340M | 1.449M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 27 | 37639 | $2.31 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.32 | 112885 | 78 |
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