Ball Corporation Recommends Rejection of Amended Below-Market Mini-Tender Offer by TRC Capital Corporation


WESTMINSTER, Colo., June 16, 2022 /PRNewswire/ — Ball Corporation (NYSE: BALL) today received notification of an amended unsolicited mini-tender offer from TRC Capital Corporation (TRC) to purchase up to 2,000,000 Ball common shares, what about . 63% of the company’s outstanding shares. TRC’s amended offer price of $65.25 per share in cash is approximately 1.9% below Ball’s common stock closing price of $66.53 on June 14, 2022, the last closing price prior to the commencement of the amended offering.

ball does not recommend or supports TRC’s amended unsolicited mini-tender offer below market value and advises shareholders not to tender their shares as the amended offer is at a price significantly below the current market price of Ball’s common stock. Ball is in no way affiliated or affiliated with TRC, its mini-tender bid, or the mini-tender bid documentation.

Ball urges shareholders to obtain current market quotations for their shares, to consult with their broker or financial advisor and to exercise caution with regard to TRC’s mini tender offer. Ball recommends that shareholders who have not responded to TRC’s offer take no action. Ball also recommends that shareholders who have already tendered their shares, pursuant to TRC’s offering documents, withdraw those shares prior to the expiry of the offering,

TRC has made similar below-market mini-tender offers for other companies’ stocks. Mini-tender offers are said to seek less than 5% of a company’s stock, thereby avoiding many US Securities and Exchange Commission (SEC) filing, disclosure and procedural requirements.

The SEC has warned investors that some bidders making mini-tender offers at prices below the market price “hope they will surprise investors when investors don’t compare the offer price to the current market price.” The SEC’s Investor Guide to Mini-Tender Offerings is available at

Ball encourages broker-dealers and other market participants to review the SEC’s filing regarding the dissemination and disclosure of broker-dealer mini-tender offers

Ball requests that a copy of this press release be included with all distributions of materials relating to TRC’s mini tender offer with respect to Ball common stock.

About Ball Corporation

Ball Corporation provides innovative, sustainable aluminum packaging solutions for beverage, personal care and household products for customers, as well as aerospace and other technologies and services primarily for the US government. Ball Corporation and its subsidiaries employ 24,300 people worldwide and reported 2021 net sales of $13.8 billion. For more information, visit or connect with us on Facebook or Twitter,

Ball Corporation Forward-Looking Statements
This report contains “forward-looking” statements about future events and financial performance. Words such as “expect,” “anticipate,” “estimate,” “believe,” and similar expressions generally identify forward-looking statements, which are generally any statements that are not statements of historical fact. Such statements are based on current expectations or future prospects and are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied. You should not, therefore, place undue reliance on any forward-looking statements and they should be read in conjunction with and qualified in their entirety by the cautionary statements below. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Key factors, risks and uncertainties that could cause actual results and results to differ are summarized in filings with the Securities and Exchange Commission, including Schedule 99 on our Form 10-K, which is available on our website and at www.sec .gov are available. . Additional factors that could affect: a) our packaging segments include product capacity, supply and demand constraints, and fluctuations and changes in consumption patterns; availability/cost of raw materials, equipment and logistics; competitive packaging, pricing and substitution; climate and weather changes; footprint adjustments and other manufacturing changes, including the commissioning of new equipment and lines; failure to achieve synergies, productivity improvements or cost reductions; unfavorable deposit or packaging laws; customer and supplier consolidation; power and supply chain disruptions; changes in major customer or supplier contracts or loss of a major customer or supplier; ability to pass through increased costs; war, political instability and sanctions, including in relation to the situation in Russia and Ukraine and their impact on our supply chain and our ability to operate in Russia and the EMEA region generally; changes in exchange rates or tax rates; and tariffs, trade measures or other governmental measures, including business restrictions and protective measures in any country or jurisdiction affecting goods manufactured by us or in our supply chain, including imported raw materials; b) our aerospace segment includes the financing, permitting, availability and return of government and commercial contracts; and delays, extensions and technical uncertainties affecting contracts; c) the enterprise as a whole includes those listed above as well as: the extent to which sustainability-related opportunities arise and can be exploited; management changes, succession and the ability to attract and retain a skilled workforce; governmental actions or issues, including those related to tax, ESG reporting, competition, environmental, health and safety, including U.S. FDA actions and other actions or public concerns affecting products filled into our containers; or chemicals or substances used in raw materials or manufacturing process; technological developments and innovations; the ability to manage cyber threats; litigation; strikes; Illness; Pandemic; changes in labor costs; Inflation; return on assets of the company’s defined benefit plans; pension changes; uncertainties related to geopolitical events and government policies, including policies, orders and actions related to COVID-19; reduced cash flow; interest rates, which affect our debt; and successful or unsuccessful joint ventures, acquisitions and divestitures, including the announced sale of our Russian business, and their impact on our results of operations and our business generally.

SOURCE Ball Corporation



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