Amcor swooped on Bemis last year as packaging firms jostled to buy growth with acquisitions. Amcor Ltd. is in advanced talks to acquire packaging rival Bemis Co. , according to people familiar with the matter. By rdharma 26 Jun 2019. The new entity will be the global leader in plastics packaging with a market cap of around US$17 billion, annual revenue of US$13 billion and earnings before interest and tax (EBIT) of US$2.2 billion. Amcor and Bemis Company have previously announced that their respective boards of directors unanimously approve an agreement under which Amcor will acquire Bemis. History. Amcor Bemis deal: Aussie group in tilt to be biggest in flexible plastic. NEENAH - Bemis Co. was acquired Tuesday by Amcor Ltd. based in Melbourne, Australia, in a deal valued at $6.8 billion. In August 2018, Amcor announced it would acquire the company for $5.25 billion in shares. Amcor has struck a deal to acquire US company Bemis in a deal that will create global leader in consumer packaging with a US$13 billion. 1533564000 By Perry Williams Amcor buys Bemis for $8.25bn Packaging giant Amcor has outlined a deal to acquire US-based rival Bemis in its biggest ever acquisition. Amcor has moved closer to finalising its drawn-out takeover of US packing giant, Bemis with the release of shareholder documentation on the takeover, including board and management appointments. Amcor and Bemis boards have unanimously approved a definitive agreement under which Amcor will acquire Bemis in an all-stock combination. Image credit: www.amcor.com Amcor has announced that it has made significant progress towards completing the $5.25 billion, all-stock transaction to acquire US company Bemis. Amcor Ltd must divest three manufacturing facilities and other assets in order to acquire Bemis Co, the U.S. Justice Department said on Thursday. The combined company will now operate as Amcor Plc, trading on the New York Stock Exchange under the ticker symbol “AMCR.”. … Packaging company Amcor has announced a deal to acquire Bemis, a US-based manufacturer of flexible and rigid plastic packaging, for $6.8 billion. Australian packaging company Amcor Ltd says it will acquire US rival Bemis Co in an all-stock deal valuing the US company at $US5.25 billion ($A7.1 billion). Packaging giant Amcor is one step closer to wrapping up its $9 billion buy-out of Bemis. Kohlberg to buy three former Bemis flexible packaging facilities for £310m. Amcor Ltd. agreed to acquire U.S. competitor Bemis Co. in an all-stock deal valued at $5.26 billion to expand sales of plastic packaging in the Americas. The transaction has already been approved by the Board of Directors of both companies, and is now subject to antitrust approval and completion of shareholder meeting documentation review by the US Securities and … The transaction will be effected at a fixed exchange ratio of 5.1 Amcor shares for each Bemis share, resulting in Amcor and Bemis shareholders owning approximately 71% and 29% of the combined company, respectively. Macquarie, too, highlights Amcor, despite increasing its buyback, still has flexibility to pursue acquisitions, and suspects specialty containers and global closures are potential targets. Amcor said it would buy back shares worth up to US500 million 737m, offering investors a quick return on its acquisition of US plastic food packaging company Bemis Co. Amcor has successfully negotiated yet another regulatory hurdle as it moves forward to close the $5.25 billion transaction to acquire US company Bemis. The trading halt follows a media report that it is advanced talks to buy US rival Bemis. 07 Aug 2018 - Amcor (ASX:AMC) has announced it will acquire US competitor Bemis Co in an all-stock combination valued at US$6.8 billion. 1. The $5.25 billion transaction, which was unanimously approved by the Board of Directors of both companies, will see Amcor and Bemis shareholders owning approximately 71% and 29% of the combined company, respectively. the undertaking Amcor Limited (“Amcor”, Australia) will acquire, within the meaning of Article 3(1)(b) of the Merger Regulation, control of the whole of Bemis Company, Inc. (“Bemis”, U.S.A.) (“the proposed Transaction”).3 Amcor and Bemis are designated hereinafter as “the Parties”. The transaction will be effected at a fixed exchange ratio of 5.1 Amcor shares for each Bemis share, resulting in Amcor and Bemis shareholders owning approximately 71% and 29% of the combined company, respectively. Amcor said in a statement that the transaction has been greenlighted by the European Commission on Tuesday, after the two companies agreed that the merged entity would divest three Bemis plants in the UK and Ireland. Amcor had announced in August 2018 that it intends to acquire Bemis by offering 5.1 shares in Amcor for every share in Bemis. Undervalued? For proof of this, look no further than the blockbuster August announcement that Amcor planned to acquire rival packaging firm Bemis in an all-stock transaction valued at nearly US$5.3 billion. Moreover, the integration of Bemis is largely complete which means Amcor can switch to a bolt-on M&A strategy to further supplement growth. The Amcor CDI share price opened ... notes a pre-tax synergy benefit of approximately $70 million following the Bemis acquisition. The deal completed on June 11, 2019, and all operations have been merged with Amcor. Image: Kohlberg will acquire three former Bemis flexible packaging facilities. American private equity firm Kohlberg & Company has signed an agreement to acquire three flexible packaging plants from Amcor in a deal valued at around $394m (£309.5m). Amcor agreed on Monday to take over US rival Bemis for $6.8bn in an all-stock deal that executives said would give the Australian packaging group a stronger foothold in the Americas. But after looking at the deal, we wonder if Amcor has paid too much. The Amcor share price has gained 3.25% so far in 2019. with AAP . Australian-based Amcor Limited announced Monday it will buy its U.S. packaging rival Bemis in a $5.25 billion all-stock deal. Amcor has just announced a merger with Bemis, a US based flexibles packaging company. These were filed with US and Australian regulators yesterday and shareholder meetings are scheduled for May 2 and Amcor now expects to complete the multi-billion dollar deal on May 15. MELBOURNE, Australia & NEENAH, WI—Amcor Limited and Bemis Company Inc announced that their respective boards of directors have unanimously approved a definitive agreement under which Amcor will acquire Bemis in an all-stock combination.. Bemis shareholders will receive the equivalent of $57.75 a share in Amcor stock, according to a The companies will complement each other while offering customers and employees compelling value proposition in the packaging industry and deliver sustainable innovations for the environment.