Amcor to Buy Berry Global in $8.4 Billion Stock Deal

Dow Jones11-19

By Colin Kellaher

Amcor has agreed to buy Berry Global Group in a roughly $8.4 billion stock swap that will create a consumer and healthcare packing company with annual revenue of about $24 billion.

Amcor on Tuesday said it will issue 7.25 shares, worth about $73.59 based on Monday's closing price, for each share of Berry, a nearly 10% premium to Monday's closing price of $67.05 for the Evansville, Ind., company.

Amcor said its shareholders will own about 63% of the combined company, which it said will have a more complete product offering in flexibles, containers and closures, while Berry investors will own around 37%.

The deal is slated to close in the middle of 2025.

Berry shares were recently up 7% to $71.73 in premarket trading, while shares of Amcor slipped 0.9% to $10.06.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

November 19, 2024 06:20 ET (11:20 GMT)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2484914767?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-19 19:20","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2484914767","market":"sg","top_or_hot":-1,"title":"Amcor to Buy Berry Global in $8.4 Billion Stock Deal","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Colin Kellaher \n</p>\n<pre>\n \n</pre>\n<p>\n  Amcor has agreed to buy Berry Global Group in a roughly $8.4 billion stock swap that will create a consumer and healthcare packing company with annual revenue of about $24 billion. \n</p>\n<p>\n  Amcor on Tuesday said it will issue 7.25 shares, worth about $73.59 based on Monday's closing price, for each share of Berry, a nearly 10% premium to Monday's closing price of $67.05 for the Evansville, Ind., company. \n</p>\n<p>\n  Amcor said its shareholders will own about 63% of the combined company,  which it said will have a more complete product offering in flexibles, containers and closures, while Berry investors will own around 37%. \n</p>\n<p>\n  The deal is slated to close in the middle of 2025. \n</p>\n<p>\n  Berry shares were recently up 7% to $71.73 in premarket trading, while shares of Amcor slipped 0.9% to $10.06. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Colin Kellaher at colin.kellaher@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 19, 2024 06:20 ET (11:20 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Amcor to Buy Berry Global in $8.4 Billion Stock Deal</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAmcor to Buy Berry Global in $8.4 Billion Stock Deal\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-19 19:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Colin Kellaher \n\n\n \n\n\n  Amcor has agreed to buy Berry Global Group in a roughly $8.4 billion stock swap that will create a consumer and healthcare packing company with annual revenue of about $24 ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1670710661.SGD","symbol_name":"M&G (LUX) GLOBAL DIVIDEND \"A\" (SGD) INC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2484914767","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2484914767","pubTimestamp":1732015200,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Amcor has agreed to buy Berry Global Group in a roughly $8.4 billion stock swap that will create a consumer and healthcare packing company with annual revenue of about $24 billion.Amcor on Tuesday said it will issue 7.25 shares, worth about $73.59 based on Monday's closing price, for each share of Berry, a nearly 10% premium to Monday's closing price of $67.05 for the Evansville, Ind., company.Amcor said its shareholders will own about 63% of the combined company,  which it said will have a more complete product offering in flexibles, containers and closures, while Berry investors will own around 37%.The deal is slated to close in the middle of 2025.Berry shares were recently up 7% to $71.73 in premarket trading, while shares of Amcor slipped 0.9% to $10.06.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1670710661.SGD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (SGD) INC","BK7063":"纸材料包装","AMCR":"AMCOR PLC","BERY":"Berry Plastics Group","AMC.AU":"AMCOR PLC-CDI","BK4136":"纸材料包装","BK4585":"ETF&股票定投概念","LU1670711040.USD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (USD) ACC","LU1670711123.USD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (USD) INC","BK4126":"金属与玻璃容器","LU1303367103.USD":"摩根大通多经理另类基金 A (acc)","BK4588":"碎股","LU1670710588.SGD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (SGD) ACC","LU2098885051.SGD":"JPMorgan Funds - Multi-Manager Alternatives A (acc) SGD"},"translate_title":"Amcor将以84亿美元的股票交易收购Berry Global","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AMC.AU":0.9,"AMCR":0.9,"BERY":0.9},"content_text":"By Colin Kellaher \n\n\n \n\n\n  Amcor has agreed to buy Berry Global Group in a roughly $8.4 billion stock swap that will create a consumer and healthcare packing company with annual revenue of about $24 billion. \n\n\n  Amcor on Tuesday said it will issue 7.25 shares, worth about $73.59 based on Monday's closing price, for each share of Berry, a nearly 10% premium to Monday's closing price of $67.05 for the Evansville, Ind., company. \n\n\n  Amcor said its shareholders will own about 63% of the combined company,  which it said will have a more complete product offering in flexibles, containers and closures, while Berry investors will own around 37%. \n\n\n  The deal is slated to close in the middle of 2025. \n\n\n  Berry shares were recently up 7% to $71.73 in premarket trading, while shares of Amcor slipped 0.9% to $10.06. \n\n\n \n\n\n  Write to Colin Kellaher at colin.kellaher@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 19, 2024 06:20 ET (11:20 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2484914767"}