Packaging companies Amcor and Berry Global Group have received antitrust clearance in the US for their proposed $8.4bn merger.
The companies announced the successful conclusion of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for the merger.
The expiry of this waiting period fulfils an additional closing condition needed to complete the merger.
Furthermore, the companies have confirmed that several other regulatory approvals have been granted in recent weeks, including antitrust clearances in China and Brazil.
The companies noted that significant progress has been made in securing the remaining regulatory approvals and meeting other customary closing conditions. They still anticipate the transaction will be completed by mid-2025.
Last November, Amcor and Berry Global Group entered into a definitive merger agreement to form a consumer packaging solutions entity via an all-stock transaction.
The combined entity could reportedly offer sustainable consumer packaging solutions with global scale and supply chain flexibility.
At that time, the companies estimated that the $8.4bn deal would deliver annual synergies of $650m.
Last month, the shareholders of both companies formally approved the merger. More than 71% of Amcor’s shares were represented at the vote, with over 99% in favour of the proposal.
Similarly, over 83% of Berry Global’s shares were represented, with more than 98% voting in favour.
