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.