Agree, however Amcor management probably believe that Amcor NYSE may trade at a higher level due to the new larger size of the company and access to more capital in the USA. Ie they don’t have to convert USD into AUD to buy AMC. I know earnings don’t make a difference as the functional currency is USD. But tax cost base in AUD is slightly more complex and fx exposed.. Equally it joins the US indexes which is was previously excluded from - only an Aussie index.
Personally I don’t care too much. We don’t hold a mass amount of these anyway. Hold merely for global earnings exposure outside Aussie.
AMC Price at posting:
$14.32 Sentiment: Hold Disclosure: Held
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