Australia-Listed Amcor Is in Advanced Talks to Buy Bemis
August 03 2018 - 11:32AM
Dow Jones News
By Dana Mattioli and Ben Dummett
Breaking News...
Amcor Ltd. is in advanced talks to acquire packaging company
Bemis Co., according to people familiar with the matter.
Terms of the potential deal couldn't be learned, but on Friday
morning Bemis, based in Neenah, Wis., had a market value of $4.2
billion. Given a typical takeover premium, an acquisition could
value the company at more than $5 billion.
Amcor and Bemis could announce a deal next week assuming the
talks don't fall apart at the last minute, which is still possible,
the people said.
Bemis makes flexible packaging for healthcare companies and
consumer packaged goods providers like Kraft Heinz Co. Globally, it
employs around 16,000. Amcor makes packaging and wrapping for
products such as disposable drinks and condiments. It has a market
value equivalent to about $13 billion. The company has its
corporate headquarters in Zurich and head office in Australia.
(More to Come)
Write to Dana Mattioli at dana.mattioli@wsj.com and Ben Dummett
at ben.dummett@wsj.com
(END) Dow Jones Newswires
August 03, 2018 11:17 ET (15:17 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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