Done deal!

23 08 2009

Last week, I have mentioned that a part of Alcan Packaging had been sold to Bemis and that Amcor was still negotiating to acquire the remainder of the company. On Tuesday (08-18-2009), Amcor and Rio Tinto announced that they came to an agreement and that Amcor will be offering a bit more than $2 billion to acquire the remaining assets of Alcan Packaging. Amcor is financing the offer with debt and equity. This transaction makes Amcor the world’s biggest pharmaceutical and health care packaging business. U.S and EU regulators have yet to approve the transaction. Rio Tinto is still in the process of divesting what it considers as non-core assets. Alcan Engineered Products is also up for grabs.

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