Here's another big deal worth, ahem, noting: Innovia Group, supplier of the Bank of England’s new plastic five pound note that has come under fire for containing animal fat, has been snapped up by a Canadian label and packaging maker in a CA$1.13bn (£680m) move.
The UK-based company makes specialty bi-axially oriented polypropylene films used for labels, packaging and security applications.
The Canadian firm, CCL Industries, said that Innovia is likely to generate net revenue of about CA$570m for next year. The deal will be financed from existing revolving credit facility and a new $450m, two-year term loan, Reuters reported .
Meanwhile, our Canadian governor Mark Carney is working to remove animal fat from the shiny new fivers.