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Ball Kicks $3.4B of Can Assets to Ardagh to Seal Rexam Buy

Drinks can maker Ball (BLL - Get Report) on Monday cleared a major obstacle to the closing of its £5.4 billion ($7.8 billion) purchase of the U.K.'s Rexam (REXMY) by striking a $3.42 billion agreement to sell assets to Ardagh to meet regulatory conditions of the larger deal.

On arranging the assets sale, the Broomfield, Col. company also scrapped a $1.58 billion-revenue limit on the amount of operations it would be willing to divest that formed part of its February...