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Owens-Illinois, Kohlberg Kravis will meet.

January 20, 1987

Owens-Illinois Inc. said it would hold discussions with Kohlberg Kravis Roberts, the New York investment firm that last week increased a rejected bid for the glass container firm to $3.6 billion. The proposed offer by Kohlberg Kravis would take Owens-Illinois private in a leveraged buyout. Owens is a diversified manufacturer that makes containers and packages and owns nursing homes and a mortgage banking company. Its stock soared by more than $3 a share on the news to end the day at $59, up $3.50 on the day.

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