REX.L Share News (REX)

Packaging group Rexam has received a binder offer for the remaining Containers & Closures division of its Healthcare business.Rexam, which is now a beverage can manufacturer after a number of disposals, said that US packaging firm Berry Plastics Group has made a $135m cash offer for the unit."The transaction requires consultation with French works council and is conditional on the necessary regulatory approvals. It is expected to complete around the middle of this year," Rexam said.The firm last month proposed the sale of its other two Healthcare divisions, Pharmaceutical Devices and Prescription Retail Packaging, as part of its strategy to focus solely on beverage cans.The remaining disposals, which are said to be "progressing according to plan" and expected to complete in the second quarter, will be followed by a cash return of £450m to shareholders.BC