Novolex has completed its combination with Pactiv Evergreen in a transaction valued at approximately US$6.7 billion, inclusive of Pactiv Evergreen’s net debt as of September 30, 2024. The combined company, headquartered in North Carolina, US, will retain the Novolex name. Under the agreement, Pactiv Evergreen’s stock has been delisted from Nasdaq, with shareholders receiving US$18 per share in cash — a 49% premium to the two-month unaffected volume-weighted average trading price as of December 2, 2024, the last trading day before media reports regarding a potential transaction.