Switzerland Amcor Buys United States Berry Global for $8.43 Billion in All-Share Deal to Create Consumer, F&B & Healthcare Packing Giant with $24 Billion Revenue, New Entity Will be Named Amcor
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Switzerland Amcor Buys United States Berry Global for $8.43 Billion in All-Share Deal to Create Consumer, F&B & Healthcare Packing Giant with $24 Billion Revenue, New Entity Will be Named Amcor
22nd November 2024 | Hong Kong
Switzerland Amcor is buying United States Berry Global for $8.43 billion in all-share deal to create a consumer, F&B & healthcare packing giant with $24 billion revenue.The new entity will be named Amcor.Announcement (19/11/24): “Amcor plc (“Amcor”) (NYSE: AMCR; ASX: AMC) and Berry Global Group, Inc. (“Berry”) (NYSE: BERY), today announced they have entered into a definitive merger agreement, pursuant to which Amcor and Berry will combine in an all-stock transaction.Berry shareholders will receive a fixed exchange ratio of 7.25 Amcor shares for each Berry share held upon closing, resulting in Amcor and Berry shareholders owning approximately 63% and 37% of the combined company, respectively. The transaction has received unanimous approval of the boards of directors of both Amcor and Berry and values Berry’s common stock at $73.59 per share.The combination brings together two highly complementary businesses to create a global leader in consumer packaging solutions, with a broader flexible film and converted film offering for customers, a scaled containers and closures business and a unique global healthcare portfolio. The combined company will have unprecedented innovation capabilities and scale, and be uniquely positioned to accelerate growth, solve customers’ and consumers’ sustainability needs, unlock portfolio transformation and deliver significant value to both sets of shareholders … … The transaction has been unanimously approved by the boards of directors of both Amcor and Berry. Closing is targeted in the middle of calendar year 2025. The closing of the transaction is subject to shareholder approvals, regulatory approvals, and satisfaction of other customary closing conditions.UBS Investment Bank and Goldman Sachs & Co. LLC are acting as financial advisors to Amcor. Kirkland & Ellis LLP is acting as legal advisor to Amcor.Lazard and Wells Fargo are acting as financial advisors to Berry. Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal advisor to Berry.”
“ Switzerland Amcor Buys United States Berry Global for $8.43 Billion in All-Share Deal to Create Consumer, F&B & Healthcare Packing Giant with $24 Billion Revenue, New Entity Will be Named Amcor “
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Amcor is a global leader in developing and producing responsible packaging solutions across a variety of materials for food, beverage, pharmaceutical, medical, home and personal-care, and other products. Amcor works with leading companies around the world to protect products, differentiate brands, and improve supply chains. The company offers a range of innovative, differentiating flexible and rigid packaging, specialty cartons, closures and services. The company is focused on making packaging that is increasingly recyclable, reusable, lighter weight and made using an increasing amount of recycled content. In fiscal year 2024, 41,000 Amcor people generated $13.6 billion in annual sales from operations that span 212 locations in 40 countries. NYSE: AMCR; ASX: AMC
Berry is a global leader in innovative packaging solutions that we believe make life better for people and the planet. We do this every day by leveraging our unmatched global capabilities, sustainability leadership, and deep innovation expertise to serve customers of all sizes around the world. Harnessing the strength in our diversity and industry-leading talent of over 34,000 global employees across more than 200 locations, we partner with customers to develop, design, and manufacture innovative products with an eye toward the circular economy. The challenges we solve and the innovations we pioneer benefit our customers at every stage of their journey.
Switzerland Amcor Buys United States Berry Global for $8.43 Billion in All-Share Deal to Create Consumer, F&B & Healthcare Packing Giant with $24 Billion Revenue, New Entity Will be Named Amcor
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