Industry trends

Canada's CCL Industries to buy Checkpoint for $422 mln

2018-05-07 22:13:09 69

March 2 (Reuters) - Canadian label and packaging manufacturer CCL Industries Inc (CCLb.TO) said it would buy U.S.-based Checkpoint Systems Inc (CKP.N) , which makes anti-theft merchandise tags for retailers, for about $422 million.

The offer of $10.15 per share in cash represents a premium of about 29 percent to Checkpoint's Tuesday closing.

Checkpoint had 41.6 million shares as of Oct. 28.