0325 GMT - Packaging company Amcor's share price may not get a quick lift from its acquisition of Berry, reckons Morgans. The rationale for Amcor's all-stock offer of $14.7 billion makes sense and the financial metrics look solid, analyst Alexander Lu says. But the size of the transaction means the market may not reward Amcor any time soon, Morgans says. "We think the stock is likely to be rangebound in the near term until management can show that they are executing well," Morgans says. Amcor is targeting some $650 million of annual savings by the third year of ownership. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
November 20, 2024 22:25 ET (03:25 GMT)
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