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

Australian Food and Grocery Council CEO Tanya Barden says research by the Council shows the value food and grocery manufacturing brings to the economy and local communities.

CSIRO scientists have development new technology to detect gluten in any food and show which grain it comes from, helping to track any contamination in the raw ingredient supply chain, as well accuracy in pack labelling around gluten-free claims.

The 155-year-old milk pasteurisation process is being challenged by a new patented technology from The Wholey Milk Co. Doris Prodanovic reports.