Australia's Amcor in talks to buy U.S. packaging company Bemis - WSJ

Reuters
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(Adds statement from Amcor. Updates stock price)

Aug 4 (Reuters) - Australian packaging company Amcor Ltd is in advanced talks to buy U.S. rival Bemis Co the Wall Street Journal reported https://www.wsj.com/articles/australia-listed-amcor-is-in-advanced-talks-to-buy-bemis-1533308540?mod=pls_whats_news_us_business_f on Friday, citing people familiar with the matter.

Shares of Bemis, which has a market value of about $4.20 billion, closed up 11.27 percent at $51.53 on Friday.

A deal could be announced as soon as next week, according to the report.

When asked by Reuters about the possible acquisition on Saturday, a spokesman for Amcor declined to comment.

Bemis was not immediately available for comment. (Reporting by Sanjana Shivdas in Bengaluru; Additional reporting by Will Ziebell in Melbourne; Editing by Nick Macfie)

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