Australian packaging firm Orora Limited (ASX:ORA) confirmed on August 30, 2023 it was in advanced discussions regarding a potential acquisition of French high-end glass bottles manufacturer Saverglass SAS. "The negotiations will take some days to finalise due to a number of factors including the size and global nature of the target business," Orora said in a statement, while requesting a voluntary suspension of trading in its shares on the Australian bourse. Earlier this week, the Australian Financial Review (AFR) reported that Orora was in late-stage negotiations to acquire Saverglass, and that Citi and Macquarie Capital are advising the company on a AUD 1 billion ($646.5 million) capital raising to fund the deal.

Shares of Orora were placed on a trading halt on August 28, 2023. The voluntary suspension would remain in place until earlier than commencement of trading on Sept. 1, 2023 or when Orora requests for the voluntary suspension otherwise be lifted, the company said.