Amcor sells factories for Bemis deal

Company News

by Rachael Jones

Amcor (ASX:AMC) and Bemis Company are in advanced discussions with Staff of the Antitrust Division of the US Department of Justice to resolve antitrust concerns associated with the proposed combination of Amcor and Bemis.

In order to resolve these concerns, Amcor is in talks with Tekni-Plex for the sale of Amcor plants in Milwaukee, Ashland and part of the Madison Wisconsin plant, for cash consideration of USD $215 million.

The sale is still subject to approval, but once completed the Amcor-Bemis deal can proceed.

Shares in Amcor (ASX:AMC) are trading 0.46 per cent lower at $15.31. 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.