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Fly News Breaks for July 6, 2016
BLL
Jul 6, 2016 | 07:21 EDT
Wells Fargo believes that Ball Corp's acquisition of Rexam leaves Ball poised to significantly increase its shareholder value in coming years. The firm thinks that the deal will enable the company to generate free cash flow of at least $6.50 by 2019, while creating a "rigid packaging powerhoise." It adds that the transaction will improve the company's other product lines and enable it to accelerate its share repurchases by late 2017. Wells keeps an Outperform rating on Ball.
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