Canada's CCL Industries to buy Checkpoint for $422 mln

Wed Mar 2, 2016 7:23am EST
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March 2 (Reuters) - Canadian label and packaging manufacturer CCL Industries Inc said it would buy U.S.-based Checkpoint Systems Inc, which makes anti-theft merchandise tags for retailers, for about $422 million.

The offer of $10.15 per share in cash represents a premium of about 29 percent to Checkpoint's Tuesday closing.

Checkpoint had 41.6 million shares as of Oct. 28. (Reporting by Anet Josline Pinto in Bengaluru; Editing by Saumyadeb Chakrabarty)