Close×

Amcor and Bemis are set to merge on Tuesday 11 June after receiving antitrust clearance in the US and approval from the Australian Federal Court.

The US Department of Justice provided regulatory clearance to the move on Friday 31 May, on the condition that some Amcor assets are sold to Tekni-Plex as planned, while the Federal Court gave the merger a thumbs-up on Tuesday 4 June.

The $A9.2 billion merger will see Amcor expand its US footprint and list on the New York Stock Exchange (NYSE) with a market capitalisation of about $A23 billion. Holding company New Amcor will incorporate in the UK Channel Island of Jersey, a known tax haven.

The company will continue to trade on the ASX through Chess Depository Interests, a type of security used by the ASX to allow international companies to trade on the local market.

The combined businesses will have a total revenue of $US13 billion.

Food & Drink Business

A collaboration between O-I Glass, the Australian Beverage Council, brand agency Voice, and Monash University has created a new glass beverage packaging solution. Emma & Tom's will use the bottle for a new premium juice range aimed at the export market.

A trio of University of Sydney graduate students has found a way to produce biodegradable packaging from crustacean skeletons.

Australian organic winemaker Fourth Wave has partnered with Denomination for its latest range of lighter-style wines, Tread Softly.