Packaging rarely causes as much excitement as the products it contains. But rumours that no fewer than three firms were considering a bid for Pactiv, an American packaging company which counts "Hefty" rubbish bags among its brands, caused the price of its shares to leap by over a fifth earlier this month. In particular the identity of one of the supposed bidders-Rank Group of New Zealand-caused a stir. The publicity-shy owner of the investment firm, Graeme Hart, seems to be making a concerted effort to seize the crown of food packaging from Tetra Laval, which leads the industry.
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