Aug 3 (Reuters) - Australian packaging company Amcor Ltd is in advanced talks to buy U.S. rival Bemis Co , the Wall Street Journal reported here on Friday, citing people familiar with the matter.
Shares of Bemis, which has a market value of about $4.20 billion, were up 10.5 percent at $51.23 in morning trade.
A deal could be announced as soon as next week, according to the report.
Bemis and Amcor were not immediately available for comment. (Reporting by Sanjana Shivdas in Bengaluru)