Australia's Amcor to Acquire Rival Bemis for $5.26 Billion
Australia’s 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. Bemis shareholders will receive the equivalent of $57.75 a share in Amcor stock, according to a statement Monday. The offer represents a premium of 25 percent over Bemis’s closing price on Aug. 2, the day before news reports of an impending deal sent shares surging.