Novolex Holdings is taking over fellow plastic packaging maker Pactiv Evergreen Inc. in a $6.7 billion blockbuster deal. The move combines two companies with deep plastics portfolios, including ...

Citi downgraded Pactiv Evergreen (PTVE) to Neutral from Buy with a price target of $18, up from $13. The firm sees limited upside to the shares following the announced combination with Novolex.