Amcor-Berry Global Combination Deal Receives Shareholder Approvals

Group 1 - Amcor plc and Berry Global Group, Inc. have made significant progress on their merger deal, with shareholder approval and an expected closing date in mid-2025, subject to closing conditions [1][2] - The merger aims to combine Amcor's global flexibles and regional containers businesses with Berry Global's regional flexibles and global containers and closures businesses, creating a global leader in consumer packaging solutions [2][3] - The merged entity will enhance offerings in flexible film and converted film, providing more sustainable solutions and a unique global healthcare portfolio, while strengthening positions in high-growth categories such as Healthcare, Protein, and Food Service [3][4] Group 2 - Amcor estimates $650 million in benefits from identified costs, growth, and financial synergies by the end of the third year post-closing, along with an additional$280 million in one-time cash benefits from working capital efficiencies [4] - Upon closing, Berry Global's shareholders will receive 7.25 Amcor shares for each share held, resulting in Amcor owning approximately 63% of the combined company, which will have combined revenues of $24 billion and adjusted EBITDA of$4.3 billion [5] - The combined company will service customers in over 140 countries through around 400 production facilities [5] Group 3 - Amcor's stock has gained 15.8% over the past year, outperforming the industry growth of 12% [6] - Amcor currently holds a Zacks Rank of 3 (Hold), while competitors Applied Industrial Technologies, Inc. and RBC Bearings Incorporated have a Zacks Rank of 2 (Buy) [8]