re: Amcor, broker comments
AMC's proposed acquisitiion of SML's PET containers appears well received by the markets...
UBS put out a detailed positive note on the 8th May; Merrilly Lunching said yesterday that they believed "the acquisition provides a strong startegic fit with Amcor's existing operations..." and maintained their Buy rating.
Deutsche suggested it was an opportunity "too good to miss ... the Schmalbach business acquired fit very well with Amcor's strategy of growth in PET, and the financials stack up very well..."
CSFB notes that "As a result Amcor are raising $350M in an institutional placement (Range $6.80 to $7.30), $500M via an Entitlement Offer (1 for 9 held) and $210M via convertible securites as we exercising its right to sell their remaining 45% stake in Kimberly-Clark for A$700M"
Happy days for Amcor!
AMC Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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