Packaging company Amcor Ltd
(ASX:AMC) says discussions with Rio Tinto regarding the potential acquisition of part of the Alcan Packaging businesses owned by Rio, are incomplete.
Amcor says the discussions remain incomplete and there can be no assurance that any binding proposal or transaction will result from these discussions.
The company says it believes that the market has been speculating that Amcor is considering an equity raising to partially fund the possible acquisition of part, but not all, of the Alcan businesses.
Amcor says speculation has increased with the announcement by Rio on July 6 that it had sold the Alcan Packaging Food Americas business to Bemis Company.
Amcor says an announcement will be made if and when any complete and binding proposal may be agreed. Amcor’s 2008 net profit was nearly half that of its 2007 result.
