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Amcor has successfully acquired Berry Global in a significant merger that is set to reshape the packaging industry. The acquisition, valued at nearly EUR 8 billion, was overwhelmingly approved by shareholders from both companies, marking a pivotal moment for Amcor as it aims to enhance its global presence and operational capabilities.

Details of the Acquisition

The merger agreement between Amcor and Berry Global was initially announced in November 2024. It involves an all-stock transaction where Berry shareholders will receive a fixed exchange ratio of 7.25 Amcor shares for each Berry share held upon closing. This strategic move is expected to create a combined entity named “Amcor plc,” with ownership split approximately 63% for Amcor shareholders and 37% for Berry shareholders.

Shareholder Approval

Recent shareholder meetings revealed overwhelming support for the merger. More than 71% of Amcor’s outstanding shares were represented, with over 99% voting in favor of the proposal. Similarly, more than 83% of Berry’s outstanding shares were present or represented by proxy, with over 98% supporting the merger. This strong backing indicates confidence in the potential benefits of the merger.

Strategic Implications

The combination of Amcor and Berry Global is expected to significantly strengthen their positions in various market categories, including healthcare, pet food, beauty and personal care, and food service. The merged company aims to leverage its enhanced scale to provide greater choice and innovative solutions to customers while focusing on sustainability through increased use of recycled materials and advanced packaging technologies.

Financial Expectations

From a financial perspective, the combined entity anticipates generating over $3 billion in annual cash flow. Additionally, they have identified $650 million in synergies related to cost savings and growth opportunities within three years post-merger. This financial outlook underscores the merger’s potential to deliver substantial value to shareholders.