**Amcor (NYSE: AMCR) Enters Merger Agreement with Berry Global Group, Inc.: Creating a Stronger Industry Player**

Amcor PLC, a renowned packaging solutions provider, has recently announced a significant development in its operations. On November 19, 2024, Amcor, together with Berry Global Group, Inc., a Delaware corporation, entered into an Agreement and Plan of Merger. This pivotal move will integrate Berry into Amcor, with Berry surviving the merger as a wholly-owned subsidiary of Amcor. The boards of both Amcor and Berry have unanimously approved this strategic decision.

Impact on Capital Stock:
– As per the Merger Agreement, at the Effective Time of the merger, each share of Berry common stock will be converted into the right to receive 7.25 fully paid and nonassessable Amcor ordinary shares, with potential cash payouts to address fractional shares and applicable taxes.

Governance:
– The agreement stipulates the composition of the new Amcor Board post-merger, combining individuals from both boards to ensure a smooth transition of leadership.
– Key figures such as the Chair of the Amcor Board and the Chief Executive Officer’s roles will remain stable through and after the merger.

Treatment of Equity Awards:
– Existing Berry restricted stock and performance stock unit awards will be converted into Amcor equivalents in line with the terms defined in the Merger Agreement.

Financial and Strategic Implications:
– The merger is expected to generate significant synergies, with an annual earnings impact of $650 million by year three, and over 35% accretion to the adjusted cash earnings per share.
– The combined entity aims to sustain an investment-grade balance sheet, grow dividend per share, and unlock enhanced shareholder value creation.

Regulatory Approval and Timeline:
– The completion of the merger is subject to various conditions, including approvals from both companies’ shareholders, regulatory bodies, and meeting customary closing conditions.
– The transaction is anticipated to close in the middle of the 2025 calendar year, subject to the satisfaction of all requirements.

Geographical Impact:
– The combination is projected to have a significant presence in the United States and globally, with a balanced revenue and asset distribution between the US and the rest of the world.

As Amcor and Berry forge ahead with this merger, they are poised to emerge as a stronger industry player with enhanced capabilities to meet the evolving demands of the packaging solutions market.

This move underscores Amcor’s strategic commitment to growth, innovation, and sustainable development, positioning it as a transformational partner for its customers, stakeholders, and the planet.

[Please note that the content is based on the information disclosed in the 8-K SEC filing by Amcor and should be used for informational purposes only.]

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Amcor’s 8K filing here.

Amcor Company Profile

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.