Suspect the Bemis acq also makes it harder for AMC to acquire/roll-up smaller US (or North American) packaging businesses with lower multiples, as antitrust laws should be tougher now, IMO. AMC has been doing well rolling up smaller acquisitions over time. Slow and steady was winning the race.
News: AMC UPDATE 1-Australia's Amcor in talks to buy U.S. packaging company Bemis - WSJ, page-7
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