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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Amcor PLC | ASX:AMC | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.69 | 4.79% | 15.08 | 15.00 | 15.15 | 15.19 | 14.975 | 14.98 | 4,088,699 | 09:50:00 |
From May 2019 to May 2024
By Anthony Shevlin
The European Commission on Monday approved the merger between Bemis Co. (BMS) and Amcor Ltd (AMC.AU), both manufacturers of flexible packing products, subject to conditions.
The ruling body said that the approval is conditional on the divestment of Bemis's medical-packing business in Europe.
A merger between Amcor and Bemis would have created a player three times larger than the second largest supplier of flexible packing for medical use, raising competition concerns, said the commission.
To address the commission's competition concerns, Amcor and Bemis offered to divest Bemis's entire medical-packing business in Europe.
With regards to flexible packing for food products, the commission said the proposed merger would raise "no competition concerns" due to the large number of alternative suppliers and lower entry barriers.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com; @anthony_shevlin
(END) Dow Jones Newswires
February 11, 2019 11:03 ET (16:03 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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