Berry hits record high after Amcor to buy co for $8.43 bln
Updates
** Shares of packaging firm Berry Global BERY.N rise 3.1% to$69.40, having touched a record high of $72.13 earlier
**U.S.-listed shares of Switzerland-based Amcor Plc AMCR.N down 1.2% at $10.05
** Amcor agrees to buy U.S. peer Berry for $8.43 bln in an all-stock deal, creating a co with a strong presence across consumer and healthcare packaging markets
** Berry shareholders to receive $73.59 per share — a premium of 9.75% to Berry's last close
** Deal is expected to close in the middle of 2025; Amcor CEO Peter Konieczny will serve as CEO of the combined company
** The combined entity will be named Amcor Plc, with a primary listing on the NYSE
** Separately, Berry's Q4 adj EPS of $2.27 beats est of $2.25, as per data compiled by LSEG
** BERY sees FY 2025 adj. EPS of $6.10-$6.60
** Including session's move, BERY up 11.7% YTDwhile AMCR up 4.3% YTD
Reporting by Sukriti Gupta in Bengaluru
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