Orora Ltd (ORA AU) Rejects A$2.55/Share Offer From Lone Star

Aug 13, 2024

∙ Paid

Sustainable packaging play Orora Ltd (ORA AU) has "received and has rejected an opportunistic, conditional and non-binding indicative proposal from Lone Star Fund".
The A$2.55/share Offer (less any dividends declared or payable), by way of a Scheme, was a 33.9% premium to last close. Orora was down 25% YTD, prior to the proposal.
Orora's FY24 results will be released tomorrow. Expect more commentary on the rejection of Lone Star's approach in the Q&A.

Keep reading with a 7-day free trial

Subscribe to Aussie/Kiwi M&A/Events to keep reading this post and get 7 days of free access to the full post archives.