Reports of Plastic’s Death Were Exaggerated, Amcor Bets
Amcor Ltd. is prepared to bet $5 billion that’s not about to happen. The company is planning to pay that amount in its own shares to take over Bemis Co. in a deal that would make it the biggest producer of non-paper packaging globally, a person with direct knowledge of the matter told Brett Foley and Angus Whitley of Bloomberg News on Monday, after Amcor shares were halted pending an acquisition announcement. Such a deal has been mooted for years, and would inevitably be a wager on continued and growing demand for single-use plastic bags.