BUZZ-ASX-listed shares of Amcor slip after $8.4 bln deal for US-based Berry

Reuters
20 Nov 2024

** Amcor's Australia-listed shares fell as much as 3.2% to A$15.2, hitting their lowest level since July 24

** The Switzerland-based packaging firm agrees to buy U.S.-based peer Berry in an all-stock deal valued at $8.43 bln

** Berry shareholders to receive $73.59 per share, representing a premium of ~9.75% to Berry's last close on Nov. 18

** Combined entity to create a global presence in packaging and healthcare solutions

** Stock logs largest intraday pct loss since early November

** More than 1.7 mln shares change hands vs the 30-day avg volume of 1.3 mln shares

** AMC up 9.2% YTD, including current session's moves

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com))

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