Orora's Struggles Could Lure Bid Interest, Especially in Cans
Dow Jones
Aug 14
2316 GMT [Dow Jones]--Drinks container company Orora's ongoing struggles could arouse bid interest, suggests Macquarie. It notes Orora rejected an indicative proposal from Lone Star valued at A$2.55/share two years ago. Orora's stock now trades at a 40% discount to this bid. Orora has since completed the A$1.69 billion sale of the OPS business to U.S.-based Veritiv. Still, Orora continues to face uncertainty about the outlook for its Saverglass and Gawler glass businesses. Both have experienced material earnings declines since 2024. "We think there remains potential interest in respect of Orora's cans biz in particular," Macquarie says. It has a neutral call on Macquarie.
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