Pactiv Adds To Buy Repurchase, Acquires PWP Industries

Pactiv Corp. (NYSE: PTV), the maker of Hefty garbage bags and other household items, will add 10 million shares to its buyback program, bringing the total to 10.5 million shares.

In another announcement, Pactiv said it will acquire PWP Industries for $200 million. Closely held PWP Industries is a maker of disposable plastic products. Pactiv said the deal will "modestly" benefit earnings this year. The transaction is expected to close in the current quarter.