January 24, 2019 / 5:57 AM / 7 months ago

Australia's Amcor delays Bemis takeover citing U.S. government shutdown

(Reuters) - Amcor Ltd (AMC.AX), world’s biggest listed packaging company, pushed the closing date of its takeover of American rival Bemis Co Inc BMS.N by a quarter on Thursday, citing regulatory logjam due to the partial U.S. government shutdown.

The $5.25 billion all-stock deal was initially expected to close in the first quarter of 2019, Amcor had said in August last year. But it has now been pushed to the second quarter.

“In the United States, antitrust approval and completion of shareholder meeting documentation review by the U.S. Securities and Exchange Commission have been delayed due to the partial U.S. government shutdown,” Amcor said in a statement on Thursday.

The company had secured antitrust clearances and other regulatory consents in all other jurisdictions besides the U.S, the statement added.

Amcor swooped on Bemis Company last year as packaging firms jostled to buy growth with acquisitions.

Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Rashmi Aich

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