(Adds details on Bemis share movement on Friday, background)
Aug 6 (Reuters) - Australian packaging company Amcor Ltd (AMC) on Monday requested a trading halt to make an announcement on an acquisition, fuelling expectations of a bid for U.S. rival Bemis Co BMS.N .
Amcor is in advanced talks to buy Bemis, the Wall Street Journal reported on Friday, citing people familiar with the matter.
Shares of Bemis, which has a market value of about $4.2 billion, closed up 11.27 percent at $51.53 on Friday after the Wall Street Journal report.
"The trading halt is requested pending an announcement by Amcor in relation to an all-stock acquisition that is under consideration by Amcor," the Australian company said in a statement.
The expected acquisition comes as the packaging industry is under severe pressure due to the rising cost of inputs, prompting firms to hike prices.
News: AMC UPDATE 1-Australia's Amcor shares on trading halt pending acquisition update
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Last
$14.88 |
Change
0.320(2.20%) |
Mkt cap ! $9.541B | |||
| Open | High | Low | Value | Volume |
| $14.76 | $14.89 | $14.76 | $31.35M | 2.122M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 22 | 6892 | $14.87 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $14.88 | 5446 | 17 |
View Market Depth
| Last trade - 12.56pm 23/07/2025 (20 minute delay) ? |
| AMC (ASX) Chart |