Amcor Plc Stock Price, News & Analysis

Amcor plc announced the expiration and results of its consent solicitations from holders of Berry Global's outstanding notes, including various First Priority Senior Secured Notes due between 2027 and 2034. The solicitations, which expired on March 5, 2025, successfully obtained the required consents for proposed amendments to the notes' indentures.

The company entered into supplemental indentures with trustees and notes collateral agents for each series. While these became effective immediately upon execution, consent payments will only be made to holders who validly delivered (and did not revoke) consents, and only upon the consummation of the merger between Amcor and Berry.

The consent solicitations were managed by Goldman Sachs & Co. and UBS Investment Bank as lead solicitation agents, with BofA Securities, J.P. Morgan Securities, and Mizuho Securities USA serving as co-solicitation agents.

Amcor plc has announced consent solicitations from holders of Berry Global's secured notes, following their merger agreement announced on November 19, 2024. The solicitations seek amendments to allow the release of Berry's collateral liens and parent guarantee if Amcor provides an unconditional guarantee of Berry's payment obligations.

The consent solicitations cover five series of notes: 1.50% EUR Notes (2027), 1.65% USD Notes (2027), 5.50% USD Notes (2028), 5.800% USD Notes (2031), and 5.650% USD Notes (2034). The record date is February 25, 2025, with solicitations expiring March 5, 2025.

If holders of at least 66 2/3% of each note series consent, Berry will enter supplemental indentures. The proposed changes aim to ensure the notes rank equally with Amcor's existing notes following the merger completion and Berry 2026 Notes repayment.

Amcor (NYSE: AMCR) and Berry Global (NYSE: BERY) shareholders have overwhelmingly approved their proposed combination, with over 99% and 98% of voting shares supporting the merger respectively. The deal, announced in November 2024, will create one of the global leaders in consumer and healthcare packaging solutions.

The combined entity aims to leverage enhanced material science and innovation capabilities to better serve customers and meet sustainability goals. The merger is expected to generate $650 million in synergies and drive faster growth in attractive categories. More than 71% of Amcor's shares and 83% of Berry's shares participated in the vote.

The transaction is anticipated to close in mid-2025, subject to remaining closing conditions. Both companies view this combination as transformative for the packaging industry, creating opportunities neither company could achieve independently.

Amcor (NYSE: AMCR) and Berry Global shareholders have overwhelmingly approved their proposed combination, with over 99% of Amcor's voting shares and 98% of Berry's voting shares supporting the merger. The deal, initially announced in November 2024, will create a leading global consumer and healthcare packaging solutions company.

The combined entity expects to achieve $650 million in synergies and accelerated growth in attractive categories. The merger brings together complementary material science and innovation capabilities, aiming to revolutionize product development and address sustainability needs. The transaction is anticipated to close in mid-2025, subject to closing conditions.

Voter turnout was strong, with 71% of Amcor's outstanding shares and 83% of Berry's shares represented. Both companies will file final voting results with the SEC on Form 8-K.

Amcor (NYSE: AMCR, ASX:AMC), a global leader in responsible packaging solutions, has announced its participation in the Bank of America 2025 Global Agriculture and Materials Conference. The company's CEO Peter Konieczny and CFO Michael Casamento will engage in a fireside chat on Wednesday, February 26, 2025, at 1:15 PM Eastern time.

Interested parties can access the presentation through a live webcast, and a replay will be made available afterward on the company's investor relations website at www.amcor.com/investors under the 'presentations' section. For additional information, stakeholders can contact Damon Wright, Vice President of Investor Relations.

Amcor (AMCR) reported solid second quarter fiscal 2025 results with net sales of $3,241 million and GAAP net income of $163 million. The company achieved sequential improvement in volume growth, with Q2 volumes up 2.3% year-over-year, marking the fourth consecutive quarter of sequential improvement.

Key financial highlights include Adjusted EBIT of $363 million, up 5% on a comparable constant currency basis, and Adjusted EPS of 16.1 cents, also up 5%. For the first half of fiscal 2025, net sales reached $6,594 million with GAAP net income of $354 million.

The company reaffirmed its fiscal 2025 guidance with projected Adjusted EPS of 72-76 cents per share and Adjusted Free Cash Flow of $900-1,000 million. Additionally, Amcor announced a quarterly dividend of 12.75 cents per share and highlighted its planned combination with Berry Global, expected to close in mid-2025, with identified synergies of $650 million.

Amcor and Berry Global have filed their definitive joint proxy statement with the SEC, marking a significant step toward completing their previously announced all-stock merger. Both companies will hold shareholder meetings on February 25, 2025. The merger aims to create a global leader in consumer and healthcare packaging solutions.

The combined entity expects to achieve $650 million in synergies through cost savings, growth, and financial improvements by the end of the third year post-merger. This includes $530 million in cost synergies, $60 million in financial savings, and $60 million from growth synergies. The company projects combined annual cash flow exceeding $3 billion and over 35% adjusted cash earnings per share accretion.

The transaction, unanimously recommended by both boards, is expected to close by mid-2025. The merger aims to enhance long-term shareholder value creation from 10-15% to 13-18% annually through sustained higher earnings growth and continued dividend growth.

Amcor (NYSE: AMCR) and Berry Global have filed their definitive joint proxy statement with the SEC, marking a significant step toward completing their previously announced all-stock merger. Both companies will hold shareholder meetings on February 25, 2025, with the transaction expected to close by mid-2025.

The merger aims to create a global leader in consumer and healthcare packaging solutions. The combined entity expects to achieve $650 million in synergies by the end of the third year post-merger, including $530 million in cost synergies, $60 million in financial savings, and $60 million from growth synergies. The company projects combined annual cash flow exceeding $3 billion and anticipates over 35% adjusted cash earnings per share accretion.

The transaction, unanimously recommended by both boards, is expected to enhance long-term shareholder value creation from 10-15% to 13-18% per annum through higher earnings growth and continued dividend growth.

Amcor plc (NYSE: AMCR; ASX: AMC) has announced it will release its fiscal 2025 second quarter and half year results for the period ended December 31, 2024. The announcement will be made before US market opening on February 4, 2025.

The company will host a conference call and webcast to discuss the results at 8:00 AM US Eastern Standard Time on February 4, 2025 (12:00 AM Australian Eastern Daylight Time on February 5, 2025). Toll-free and local dial-in numbers are provided for participants from the USA, Australia, United Kingdom, Hong Kong, and Singapore.

The webcast and supporting materials will be accessible through Amcor's Investors section website, with a replay available after the call.