Packaging giant Rexam ponders Saint-Gobain move

London-based packaging group Rexam was today thought to be pondering a £3bn (€4.4bn) approach for the bottle making arm of Jewson owner Saint-Gobain.

The firm is already the world’s largest drinks can manufacturer but would become the second largest bottle maker if a bid was successful.

Asked whether an approach was imminent, Rexam chief executive Lars Emilson told the Daily Telegraph: “I have no idea if they are considering selling, but we wouldn’t shy away from growing our glass business if something major became available.”

Analysts expect France-based Saint-Gobain’s bottle business to sell for between £2.7bn (€3.9bn) and £3.4bn (€5bn). Currently, US bottle-maker Owens Illinois is the largest in the world.