EU Approves Amcor, Bemis Merger With Conditions

Date : 02/11/2019 @ 4:18PM
Source : Dow Jones News
Stock : Amcor Fpo (AMC)
Quote : 14.93  -0.05 (-0.33%) @ 4:59AM
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EU Approves Amcor, Bemis Merger With Conditions

Bemis (NYSE:BMS)
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   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)

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