AMCOR AND BERRY GLOBAL SHAREHOLDERS OVERWHELMINGLY APPROVE COMBINATION
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) e gli azionisti di Berry Global hanno approvato in modo schiacciante la loro proposta di fusione, con oltre il 99% delle azioni votanti di Amcor e il 98% delle azioni votanti di Berry a favore dell'operazione. L'accordo, annunciato inizialmente a novembre 2024, darà vita a un'importante azienda globale nel settore delle soluzioni di imballaggio per i consumatori e la salute.
L'entità combinata prevede di raggiungere 650 milioni di dollari in sinergie e una crescita accelerata in categorie attraenti. La fusione unisce capacità complementari nel campo della scienza dei materiali e dell'innovazione, con l'obiettivo di rivoluzionare lo sviluppo dei prodotti e rispondere alle esigenze di sostenibilità. Si prevede che la transazione si chiuda a metà del 2025, soggetta a condizioni di chiusura.
La partecipazione al voto è stata forte, con il 71% delle azioni in circolazione di Amcor e l'83% delle azioni di Berry rappresentate. Entrambe le aziende presenteranno i risultati finali delle votazioni alla SEC tramite il modulo 8-K.
Amcor (NYSE: AMCR) y los accionistas de Berry Global han aprobado abrumadoramente su propuesta de fusión, con más del 99% de las acciones votantes de Amcor y el 98% de las acciones votantes de Berry apoyando la fusión. El acuerdo, anunciado inicialmente en noviembre de 2024, creará una empresa líder mundial en soluciones de embalaje para consumidores y atención médica.
La entidad combinada espera lograr 650 millones de dólares en sinergias y un crecimiento acelerado en categorías atractivas. La fusión reúne capacidades complementarias en ciencia de materiales e innovación, con el objetivo de revolucionar el desarrollo de productos y abordar las necesidades de sostenibilidad. Se anticipa que la transacción se cierre a mediados de 2025, sujeta a condiciones de cierre.
La participación en la votación fue fuerte, con el 71% de las acciones en circulación de Amcor y el 83% de las acciones de Berry representadas. Ambas empresas presentarán los resultados finales de la votación a la SEC en el formulario 8-K.
암코르 (NYSE: AMCR)와 베리 글로벌의 주주들은 제안된 합병안을 압도적으로 승인했으며, 암코르의 의결권 있는 주식의 99% 이상과 베리의 의결권 있는 주식의 98%가 합병을 지지했습니다. 이 거래는 2024년 11월에 처음 발표되었으며, 글로벌 소비자 및 헬스케어 포장 솔루션 회사의 선두주자를 만들 것입니다.
결합된 기업은 6억 5천만 달러의 시너지 효과와 매력적인 카테고리에서의 가속 성장 달성을 기대하고 있습니다. 이 합병은 상호 보완적인 소재 과학 및 혁신 능력을 결합하여 제품 개발을 혁신하고 지속 가능성 요구를 해결하는 것을 목표로 하고 있습니다. 거래는 2025년 중반에 종료될 것으로 예상되며, 종료 조건에 따라 달라질 수 있습니다.
투표 참여율은 높았으며, 암코르의 유통 주식의 71%와 베리의 주식의 83%가 대표되었습니다. 두 회사는 SEC에 최종 투표 결과를 양식 8-K로 제출할 것입니다.
Amcor (NYSE: AMCR) et les actionnaires de Berry Global ont approuvé de manière écrasante leur proposition de fusion, avec plus de 99 % des actions votantes d'Amcor et 98 % des actions votantes de Berry soutenant la fusion. L'accord, initialement annoncé en novembre 2024, créera une entreprise mondiale leader dans les solutions d'emballage pour les consommateurs et la santé.
L'entité combinée s'attend à réaliser 650 millions de dollars de synergies et une croissance accélérée dans des catégories attrayantes. La fusion réunit des capacités complémentaires en science des matériaux et en innovation, visant à révolutionner le développement de produits et à répondre aux besoins de durabilité. La transaction devrait être finalisée à la mi-2025, sous réserve des conditions de clôture.
Le taux de participation des votants a été élevé, avec 71 % des actions en circulation d'Amcor et 83 % des actions de Berry représentées. Les deux entreprises soumettront les résultats finaux des votes à la SEC sous le formulaire 8-K.
Amcor (NYSE: AMCR) und die Aktionäre von Berry Global haben ihre vorgeschlagene Fusion überwältigend genehmigt, wobei über 99% der stimmberechtigten Aktien von Amcor und 98% der stimmberechtigten Aktien von Berry die Fusion unterstützen. Der Deal, der ursprünglich im November 2024 angekündigt wurde, wird ein führendes globales Unternehmen für Verpackungslösungen im Konsumgüter- und Gesundheitsbereich schaffen.
Die kombinierte Einheit erwartet, 650 Millionen Dollar an Synergien und beschleunigtes Wachstum in attraktiven Kategorien zu erzielen. Die Fusion vereint komplementäre Materialwissenschafts- und Innovationsfähigkeiten und zielt darauf ab, die Produktentwicklung zu revolutionieren und Nachhaltigkeitsbedürfnisse zu adressieren. Der Abschluss der Transaktion wird Mitte 2025 erwartet, vorbehaltlich der Abschlussbedingungen.
Die Wahlbeteiligung war hoch, mit 71% der ausstehenden Aktien von Amcor und 83% der Aktien von Berry, die vertreten waren. Beide Unternehmen werden die endgültigen Wahlergebnisse in Form 8-K bei der SEC einreichen.
- Overwhelming shareholder approval (99% AMCR, 98% Berry) indicates strong investor confidence
- $650M in identified synergies expected
- High voter turnout (71% AMCR, 83% Berry shares) demonstrates strong engagement
- Combination expected to accelerate growth in attractive categories
- Merger completion still subject to closing conditions
- Integration risks and execution challenges in achieving stated synergies
Insights
The overwhelming shareholder approval of Amcor and Berry Global's merger represents a significant consolidation move in the global packaging industry, with 99% of Amcor shares and 98% of Berry shares voting in favor. This transaction will create one of the world's largest packaging companies with enhanced scale across consumer and healthcare segments.
The ambitious
Strategic benefits extend beyond mere cost savings. The combined entity will possess significantly enhanced innovation capabilities, particularly important as brand owners increasingly demand sustainable packaging solutions. The merger addresses a critical industry challenge: balancing profitability with sustainability investments that consumers and regulators increasingly demand.
For investors, this represents a defensive consolidation play in a mature industry facing margin pressures and sustainability-driven disruption. The mid-2025 closing timeline suggests management anticipates manageable regulatory scrutiny, though antitrust reviews in key markets remain the primary completion risk.
The reference to "further refine the portfolio" signals potential divestiture of non-core or underperforming assets post-merger, which could generate additional shareholder value while focusing the combined entity on highest-growth segments. This transaction continues the packaging sector's consolidation trend, as scale becomes increasingly critical to fund innovation and maintain pricing power with large CPG customers.
The
The projected
This merger addresses a fundamental industry challenge: the massive capital investment required for sustainable packaging innovation amid tightening margins. Neither company alone could fund the R&D necessary to meet increasingly stringent sustainability regulations across global markets while maintaining acceptable returns on invested capital.
The combined entity will likely divest overlapping or subscale operations, particularly in mature packaging segments with commoditization pressure. This portfolio refinement could generate
While antitrust reviews remain the primary completion risk, the fragmented nature of most packaging subsegments should facilitate regulatory approval, though potential remedies may be required in specific product categories where overlap creates high market concentration.
For investors, this represents a textbook industrial consolidation play - creating scale efficiencies in a mature industry while building enhanced capabilities to address sustainability-driven innovation demands that smaller players cannot economically support.
Approval marks another significant milestone towards combining these highly complementary businesses
Together, Amcor and Berry will be among the global leaders in consumer and healthcare packaging solutions with the combined material science and innovation capabilities required to revolutionize product development and better solve customers' needs and consumers' sustainability aspirations. These two highly complementary businesses are expected to grow faster together in attractive categories and opportunities to further refine the portfolio. With faster growth and
Amcor CEO Peter Konieczny commented, "The resounding support from both companies' shareholders marks another important milestone in bringing Amcor and Berry together. Our combined company will be positioned to serve customers better, grow faster and operate globally in a way neither company could accomplish alone. Together, we have an exciting and unique opportunity to truly transform the future of packaging."
Berry CEO Kevin Kwilinski added, "We are excited to take another important step toward finalizing this combination between Berry and Amcor and are pleased the shareholders of both companies clearly recognize the significant opportunities we will have as one company to deliver enhanced value for all stakeholders."
More than
The combination is well advanced and is expected to close in mid calendar year 2025, subject to closing conditions.
About Amcor
Amcor plc is a global leader in developing and producing responsible packaging solutions across a variety of materials for food, beverage, pharmaceutical, medical, home and personal-care, and other products. Amcor works with leading companies around the world to protect products, differentiate brands, and improve supply chains. The Company offers a range of innovative, differentiating flexible and rigid packaging, specialty cartons, closures and services. The company is focused on making packaging that is increasingly recyclable, reusable, lighter weight and made using an increasing amount of recycled content. In fiscal year 2024, 41,000 Amcor people generated
About Berry
Berry is a global leader in innovative packaging solutions that we believe make life better for people and the planet. We do this every day by leveraging our unmatched global capabilities, sustainability leadership, and deep innovation expertise to serve customers of all sizes around the world. Harnessing the strength in our diversity and industry-leading talent of over 34,000 global employees across more than 200 locations, we partner with customers to develop, design, and manufacture innovative products with an eye toward the circular economy. The challenges we solve and the innovations we pioneer benefit our customers at every stage of their journey.
Important Information for Investors and Shareholders
This communication does not constitute an offer to sell or the solicitation of an offer to buy or exchange any securities or a solicitation of any vote or approval in any jurisdiction. It does not constitute a prospectus or prospectus equivalent document. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the
In connection with the proposed transaction between Amcor plc ("Amcor") and Berry Global Group ("Berry"), on January 13, 2025, Amcor filed with the Securities and Exchange Commission (the "SEC") a registration statement on Form S-4, as amended on January 21, 2025, containing a joint proxy statement of Amcor and Berry that also constitutes a prospectus of Amcor. The registration statement was declared effective by the SEC on January 23, 2025 and Amcor and Berry commenced mailing the definitive joint proxy statement/prospectus to their respective shareholders on or about January 23, 2025. INVESTORS AND SECURITY HOLDERS OF AMCOR AND BERRY ARE URGED TO READ THE DEFINITIVE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders may obtain free copies of the registration statement and the definitive joint proxy statement/prospectus and other documents filed with the SEC by Amcor or Berry through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by Amcor are available free of charge on Amcor's website at amcor.com under the tab "Investors" and under the heading "Financial Information" and subheading "SEC Filings." Copies of the documents filed with the SEC by Berry are available free of charge on Berry's website at berryglobal.com under the tab "Investors" and under the heading "Financials" and subheading "SEC Filings."
Cautionary Statement Regarding Forward-Looking Statements
This communication contains certain statements that are "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Some of these forward-looking statements can be identified by words like "anticipate," "approximately," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "outlook," "plan," "potential," "possible," "predict," "project," "target," "seek," "should," "will," or "would," the negative of these words, other terms of similar meaning or the use of future dates. Such statements, including projections as to the anticipated benefits of the proposed transaction, the impact of the proposed transaction on Amcor's and Berry's business and future financial and operating results and prospects, the amount and timing of synergies from the proposed transaction, the terms and scope of the expected financing in connection with the proposed transaction, the aggregate amount of indebtedness of the combined company following the closing of the proposed transaction and the closing date for the proposed transaction, are based on the current estimates, assumptions and projections of the management of Amcor and Berry, and are qualified by the inherent risks and uncertainties surrounding future expectations generally. Actual results could differ materially from those currently anticipated due to a number of risks and uncertainties, many of which are beyond Amcor's and Berry's control. None of Amcor, Berry or any of their respective directors, executive officers, or advisors, provide any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements will actually occur, or if any of them do occur, what impact they will have on the business, results of operations or financial condition of Amcor or Berry. Should any risks and uncertainties develop into actual events, these developments could have a material adverse effect on Amcor's and Berry's businesses, the proposed transaction and the ability to successfully complete the proposed transaction and realize its expected benefits. Risks and uncertainties that could cause results to differ from expectations include, but are not limited to, the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement; the risk that the conditions to the completion of the proposed transaction (including shareholder and regulatory approvals) are not satisfied in a timely manner or at all; the risks arising from the integration of the Amcor and Berry businesses; the risk that the anticipated benefits of the proposed transaction may not be realized when expected or at all; the risk of unexpected costs or expenses resulting from the proposed transaction; the risk of litigation related to the proposed transaction; the risks related to disruption of management's time from ongoing business operations as a result of the proposed transaction; the risk that the proposed transaction may have an adverse effect on the ability of Amcor and Berry to retain key personnel and customers; and those risks discussed in Amcor's and Berry's respective filings with the SEC. Forward looking statements included herein are made only as of the date hereof and neither Amcor nor Berry undertakes any obligation to update any forward-looking statements, or any other information in this communication, as a result of new information, future developments or otherwise, or to correct any inaccuracies or omissions in them which become apparent. All forward-looking statements in this communication are qualified in their entirety by this cautionary statement.
Note Regarding Use of Non-GAAP Financial Measures
Included in this communication are measures of financial performance that are not calculated in accordance with
In arriving at these non-GAAP measures, Amcor excludes items that either have a non-recurring impact on the income statement or which, in the judgment of our management, are items that, either as a result of their nature or size, could, were they not singled out, potentially cause investors to extrapolate future performance from an improper base. These non-GAAP measures are presented for illustrative purposes only, contain a variety of adjustments, assumptions and preliminary estimates and are not necessarily indicative of what the combined company's actual results of operations or financial condition would be upon completion of the merger.
In the view of Amcor's management, the estimated synergies included in this communication were prepared on a reasonable basis, reflecting the best available estimates and judgments of Amcor's management at the time of preparation and presented as of the time of preparation, to the best of Amcor's management's knowledge and belief, the expected course of action and the expected performance of the combined company. While presented with numerical specificity, the estimated synergies presented herein are subject to estimates and assumptions in many respects, inherently uncertain and, as a result, subject to interpretation. The estimates and assumptions used to prepare these estimated synergies may prove not to be appropriate for any number of reasons, including general economic conditions, trends in the packaging industry, including trends in capital spending, inventory and unit production, competition and the risks discussed under the sections entitled "Cautionary Statement Regarding Forward-Looking Statements" and "Risk Factors" in the Joint Proxy Statement. Such estimated synergies do not take into account any circumstances or events occurring after the date such information was prepared and also reflect assumptions as to certain business decisions that are subject to change.
These non-GAAP financial measures should not be construed in isolation or as a substitute for, or superior to, results determined in accordance with
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SOURCE Amcor
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