NEENAH, Wis. (News release) -- Bemis Company, Inc. announced that definitive proxy materials have been filed with the U.S. Securities and Exchange Commission in connection with the Company's pending merger with Amcor Limited. The definitive proxy statement is available on the Investor Relations section of Bemis' website, as well as www.sec.gov, and will be sent to all Bemis shareholders entitled to vote at the Bemis Special Meeting of Shareholders.
As previously announced, Bemis' Special Meeting is scheduled to take place on May 2, 2019 at 10:00 a.m. Eastern Time (9:00 a.m. Central Time) at The Langham, Chicago, 330 North Wabash Avenue, Chicago, Illinois 60611. All shareholders of record of Bemis' common stock as of the close of business on March 20, 2019 will be entitled to vote their shares either in person or by proxy at the Special Meeting. As previously announced, the expected completion date of the transaction is May 15, 2019.
"The Bemis Board unanimously supports our pending combination with Amcor and believes it maximizes value for our stakeholders," said Bemis' President and CEO, William F. Austen. "Together, Bemis and Amcor will create the global leader in consumer packaging with the footprint, scale, talent, and capabilities to offer customers the most compelling value proposition in the packaging industry. Bemis shareholders will have the opportunity to benefit from the increased dividend, which nearly doubles from Bemis' current dividend, and the value creation driven from not only the $180 million of cost synergies identified as part of the transaction but also additional potential revenue synergies from cross-selling opportunities. Our employees will benefit as part of a larger, more diversified organization, and I have every confidence that they will carry forward the Bemis legacy of innovation, respect, ethics, and accountability. This is the next exciting chapter for Bemis, and we look forward to creating value for our stakeholders through this combination."