Pactiv Corp Jumps On Acquisition News

Shares of Pactiv Corp PTV are rising after the company announced its acquisition by Reynolds Group Holdings Ltd. PTV’s shares gained 5.50% to $32.62 at 10:03 am. Reynolds Group Holdings will be acquiring PTV for $33.25 per share in a deal worth around $6 billion, representing a 39% premium to Pactiv's closing price on May 14. Pactiv Corp’s shares gained 7.10% over the past month and moved up 28.09% so far this year. Read more from Benzinga's Company news.