US antitrust clearance for Amcor/Bemis merger

Company News

by Katrina Bullock

Global packaging companies Amcor (ASX:AMC) and Bemis (NYSE:BMS) have received regulatory clearance from the US Department of Justice for their merger.

The approval is conditional upon the sale of Amcor assets located in the US to Tekni-Plex.

All antitrust and other regulatory clearances for the transaction are now complete with scheme implementation expected on 11 June 2019.

Following the transaction, Amcor and Bemis shareholders are expected to own approximately 71 per cent and 29 per cent respectively.

Shares in Amcor (ASX:AMC) are trading 1.75 per cent higher at $16.26.

Katrina Bullock

Finance News Network
Katrina is a respected TV journalist, as well as a renowned presenter and award winning lawyer. She holds a Bachelor of Laws (Honours 1st class, division 1), a Bachelor of Business (with Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She began her career as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel of Greenpeace Australia Pacific. In 2020 Katrina was named one of the 30 best lawyers in Australia under 30 by Lawyer's Weekly.