Canyon Partners Sends Letter to Berry Global's Board of Directors
The Californer/10065974

LOS ANGELES, Feb. 23, 2020 /PRNewswire/ -- Canyon Capital Advisors LLC, the investment advisor to funds and accounts (together with Canyon Capital Advisors LLC, "Canyon") that beneficially own, in the aggregate, over 9 million shares, or almost 7.0% of the outstanding common stock of Berry Global, Inc. ("Berry" or the "Company") (NYSE: BERY), today sent a letter to Berry's Board of Directors and senior management team asking the Company to immediately take the following steps: (1) publicly announce that it has hired an investment bank or other financial advisor to develop a clear plan of action toward accelerated deleveraging; (2) commit to achieving an investment grade rating (and cease M&A activity other than deleveraging transactions); and (3) get in front of environmental, social and governance ("ESG") trends and correct market misperceptions about sustainability.

More on The Californer

• DWS Star Joins iPOP Alum Matt Cornett on High School Musical Series
• Caitlin Carmichael, iPOP Alumni, Cast in new Thriller
• MC Residential Communities Ranks 13th Best Company To Work Multifamily® For Women In The Nation
• "Memo to the Leader" - Novel Speculates: What If Nazi Germany Had Won World War II?
• California: At Newly Converted Motel, Governor Newsom Launches Project Roomkey: A First-in-the-Nation Initiative to Secure Hotel & Motel Rooms to Protect Homeless Individuals from COVID-19

---

Show All News | Report Violation