Berry Global Group rated as Overweight at J.P. Morgan on acquisition

seekingalpha11-25 22:00

DedMityay/iStock via Getty Images Berry Global Group (NYSE:BERY) on Monday was rated Overweight by analysts at financial-services firm J.P. Morgan whose investment rating was suspended because of ...

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Morgan on acquisition\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-25 22:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4329831-berry-global-group-rated-as-overweight-at-jp-morgan-on-acquisition><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>DedMityay/iStock via Getty Images Berry Global Group (NYSE:BERY) on Monday was rated Overweight by analysts at financial-services firm J.P. Morgan whose investment rating was suspended because of ...</p>\n\n<a href=\"https://seekingalpha.com/news/4329831-berry-global-group-rated-as-overweight-at-jp-morgan-on-acquisition\">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":"BERY","symbol_name":"Berry Plastics Group","start_time":0,"source_url":"https://seekingalpha.com/news/4329831-berry-global-group-rated-as-overweight-at-jp-morgan-on-acquisition","article_id":"2486080585","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1251208961/image_1251208961.jpg?io=getty-c-w750"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2486080585","pubTimestamp":1732543207,"sourceInfo":{"source_id":"seekingalpha_trending_news","name":"Seeking Alpha Trending News"},"weMediaInfo":null,"summary":"DedMityay/iStock via Getty Images Berry Global Group  on Monday was rated Overweight by analysts at financial-services firm J.P. Morgan whose investment rating was suspended because of securities regulations on investment banks that advise on mergers and acquisitions. Berry  agreed to be acquired by packaging maker Amcor  in an all-stock transaction that will Amcor  owning 63% of the new company and Berry  owning the remainder. J.P. Morgan set a price target of $76 a share on Berry . “The current price of Amcor is $10.50 a share and, at a 7.25-to-1 exchange ratio, the theoretical price of Berry would be $76,” Jeffrey Zekauskas, analyst at J.P. Morgan, said in a Nov. 25 report. “In addition, we expect Berry to pay at least three dividends totaling $0.93 per share before the likely close of the transaction by the end of 1H:25, leading to a total return of about 8.5% in a 7-month period of time or about a 15% annualized return.”","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"BERY":"Berry Plastics Group","AMCR":"AMCOR PLC"},"translate_title":"Berry Global Group因收购被摩根大通评为跑赢大盘","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AMCR":0.9,"BERY":0.9},"content_text":"DedMityay/iStock via Getty Images Berry Global Group (NYSE:BERY) on Monday was rated Overweight by analysts at financial-services firm J.P. Morgan whose investment rating was suspended because of securities regulations on investment banks that advise on mergers and acquisitions. Berry (BERY) agreed to be acquired by packaging maker Amcor (NYSE:AMCR) in an all-stock transaction that will Amcor (AMCR) owning 63% of the new company and Berry (BERY) owning the remainder. J.P. Morgan set a price target of $76 a share on Berry (BERY). “The current price of Amcor is $10.50 a share and, at a 7.25-to-1 exchange ratio, the theoretical price of Berry would be $76,” Jeffrey Zekauskas, analyst at J.P. Morgan, said in a Nov. 25 report. “In addition, we expect Berry to pay at least three dividends totaling $0.93 per share before the likely close of the transaction by the end of 1H:25, leading to a total return of about 8.5% in a 7-month period of time or about a 15% annualized return.”","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":1},"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/2486080585"}