Kirkland & Ellis is advising Amcor plc (NYSE: AMCR; ASX: AMC) on a definitive agreement in which the company will combine with Berry Global Group Inc. (NYSE: BERY) through an all-stock merger. The transaction was announced November 19, 2024. Closing is targeted in the middle of calendar year 2025. The combination brings together two highly complementary businesses to create a global leader in consumer packaging solutions, with a broader flexible film and converted film offering for customers, a scaled containers and closures business and a unique global healthcare portfolio.
Berry shareholders will receive a fixed exchange ratio of 7.25 Amcor shares for each Berry share held upon closing, resulting in Amcor and Berry shareholders owning approximately 63% and 37% of the combined company, respectively. The transaction received unanimous approval of the boards of directors of both Amcor and Berry and values Berry’s common stock at $73.59 per share. The transaction will create a combined company with an enterprise value of approximately $37 billion.
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