BUZZ-Berry rises after Amcor to buy co for $8.43 bln

Reuters11-19 20:25

** Shares of packaging firm Berry Global rise 3.7% to $69.51 premarket, while U.S.-listed shares of Switzerland-based Amcor Plc fall 1.9% to $9.95

** Amcor agrees to buy U.S. peer Berry for $8.43 bln in an all-stock deal, creating a co with a strong presence across consumer and healthcare packaging markets

** Berry shareholders to receive $73.59 per share — a premium of 9.75% to Berry's last close

** Deal is expected to close in the middle of 2025; Amcor CEO Peter Konieczny will serve as CEO of the combined company

** The combined entity will be named Amcor Plc, with a primary listing on the NYSE

** Separately, Berry's Q4 adj EPS of $2.27 beats est of $2.25, as per data compiled by LSEG

** BERY sees FY 2025 adj. EPS of $6.10-$6.60

** As of last close, BERY up 8.4% YTD while AMCR up 5.3% YTD

(Reporting by Sukriti Gupta in Bengaluru)

((Sukriti.Gupta@thomsonreuters.com;))

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