Amcor, Bemis near closure of sale

MELBOURNE ― Amcor Ltd. and Bemis Co. announced that progress has been made towards completion of their all-stock merger transaction, with the filing of shareholder documentation and finalization of board of director appointments. The companies said substantial value is expected to be created for shareholders through the delivery of $180 million in pre-tax annual net cost synergies and a stronger financial profile going forward, including higher margins and cash flow. Amcor’s acquisition of Bemis was first announced last August.