Packaging business Amcor Ltd
(ASX:AMC) says the US Department of Justice has terminated the Hart-Scott-Rodino premerger waiting period allowing the company to acquire substantially all of the operations of Alcan Packaging and limits its ongoing review to Alcan’s Medical Flexibles operations in the U.S.
Amcor says this business unit consists of four sites with sales of approximately US$115 million.
The company says that a decision on whether it is able to acquire Alcan’s Medical Flexibles operations in the US will be made following a detailed review of the market by the US Department of Justice, expected to take three months.
CEO Ken MacKenzie says receiving this approval from the US Department of Justice is another critical step toward closing the Alcan Packaging acquisition.
Amcor earned profit of $211.7 million for the year to June 30, 2009.
