Deals
Sonoco Joins $2 Billion Race for Crown Can Unit
- Packaging company joins buyout firms Onex, KPS in auction
- Crown made decision to sell can unit after strategic review
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Packaging maker Sonoco Products Co. is among bidders for Crown Holdings Inc.’s cans unit, which is expected to fetch more than $2 billion, according to people familiar with the matter.
Other suitors include private equity firms KPS Capital Partners, Lone Star Funds, Onex Corp. and Platinum Equity, said the people, who asked not to be identified because the information is private. Crown is working with an adviser to run an auction for the unit, the people said.