Amcor and Bemis Receive US Antitrust Clearance, Amcor Expected to Begin Trading on NYSE June 11

Date : 05/31/2019 @ 6:53AM
Source : Dow Jones News
Stock : Amcor Limited (AMC)
Quote : 14.81  0.25 (1.72%) @ 3:49PM
Amcor share price Chart

Amcor and Bemis Receive US Antitrust Clearance, Amcor Expected to Begin Trading on NYSE June 11

Bemis (NYSE:BMS)
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   By Stephen Nakrosis 
 

Amcor Limited and Bemis Co., Inc. (BMS) said Thursday they had received regulatory clearance from the U.S. Department of Justice to complete the combination of the two companies, subject to certain conditions.

The Justice Department said it would require Amcor to divest its medical flexible packaging assets. The companies said this condition would be met by the previously announced sale of certain Amcor assets to Tekni-Plex, Inc.

The two consumer packaging companies announced their intention to merge in August of 2018. At the time, the companies said the deal would see Amcor shareholders owning 71% and Bemis shareholders 29% of the combined company.

The all-stock deal will see Amcor list on the New York Stock Exchange and continue to list on Australia's ASX.

Bemis shares will cease trading on the NYSE at the close of trade on June 10, and Amcor shares will commence trading the following day.

 

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

May 30, 2019 18:38 ET (22:38 GMT)

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