U.S. News

FKI Says It Was Approached About a Possible Offer

Shares of FKI, a maker of drink cans for companies such as PepsiCo , rose Friday after the company said it had been approached about a possible offer that would value the business at 764.7 million pounds ($1.5 billion; 1.1 billion euros).

The company said the possible offer was for 130 pence ($2.57; 1.91 euros) a share. Its shares rose 3.4% to 142.75 pence ($2.82; 2.09 euros) on the London Stock Exchange.

"The board of FKI stresses that there can be no certainty that any offer will be made," the company said in a statement released after the market closed Thursday. "FKI continues to explore all options available."