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Amcor's Bemis takeover expected to close in June after US antitrust clearance

Amcor Ltd. expects its acquisition of U.S. rival Bemis Co. Inc. to close June 11 after the transaction received antitrust clearance from the U.S. Justice Department, on the condition that the Australian packaging company divest certain assets.

Amcor needed to divest facilities in Ashland, Mass., and in Milwaukee and Madison, Wis., to Tekni-Plex Inc., a manufacturer of packaging materials and medical compounds, to receive approval. Amcor had already agreed to such a sale in April.

The Bemis acquisition, which was announced in August 2018, has already received approvals from the European Commission and Brazil. The Australian company previously expected the acquisition to close in the first quarter, but the partial U.S. shutdown delayed the completion of regulatory approvals, moving the deal's closing date to the second quarter.