Pactiv Surges on Report of Buyout Talks (PTV)

NEW YORK (TheStreet) -- Shares of Hefty trash-bag maker Pactiv(

) have skyrocketed more than 20% Monday on word that private equity firm Apollo Global Management may acquire the company in a leveraged buyout. The deal talks, first reported by The Wall Street Journal, could conclude in a matter of weeks, the paper said. The buyout would value Pactiv at up to $5.05 billion, or $34 to $38 a share, according to Bloomberg. Pactiv has a market cap of about $3.2 billion and debt of roughly $1.5 billion. The deal talks, first reported by The Wall Street Journal, could conclude in a matter of weeks, the paper said. The buyout would value Pactiv at up to $5.05 billion, or $34 to $38 a share, according to Bloomberg. Pactiv has a market cap of about $3.2 billion and debt of roughly $1.5 billion.