NEENAH, Wis. (News release) -- Amcor Limited (ASX: AMC) and Bemis Company, Inc. (NYSE: BMS) have made significant progress towards closing the all-stock transaction announced on 6 August 2018. All clearances and consents required prior to the Second Court Hearing in Australia and closing of the transaction, including Amcor and Bemis shareholder approval, have been completed with the exception of antitrust approval in the United States.
As announced on 22 April 2019, closing remains subject to approval and consent, and filing of a final judgement by the US Department of Justice (DOJ) in relation to the sale of certain Amcor assets located in the US to Tekni-Plex, Inc. These required consents and filings have not yet been finalised by the DOJ.
At today's Second Court Hearing, Amcor intends to present the substantive matters relating to the Scheme of Arrangement for the Court's consideration, but will request that the Court delay making formal orders until the DOJ consent and filings have been finalised. Amcor intends to seek the formal orders promptly after the DOJ process is complete.
The companies continue to expect DOJ consent and filings to occur shortly, and the transaction to be completed in the next several weeks. A further announcement will be made regarding dates for the expected effective, record and closing dates after the DOJ consent has been finalised.