Amcor announces today that the U.S. Department of Justice has terminated the Hart-Scott-Rodino premerger waiting period, which allows Amcor to acquire substantially all of the operations of Alcan Packaging and limits its ongoing review to Alcan's Medical Flexibles operations in the U.S. This business unit consists of four sites with sales of approximately USD115 million.
A decision on whether Amcor is able to acquire Alcan's Medical Flexibles operations in the U.S. will be made following a detailed review of the market by the U.S. Department of Justice. This review is expected to take up to three months to complete and during this period the business will remain with Rio Tinto Plc.
Amcor's Managing Director and CEO, Mr Ken MacKenzie, said: "Receiving this approval from the U.S. Department of Justice is another critical step toward closing the Alcan Packaging acquisition."
Summary of regulatory approval process
Regulatory approvals have been granted in Europe, United States, Australia, Canada, Russia, Turkey and Ukraine.
In Europe Amcor has agreed to divest two plants with sales of approximately EUR110 million and in the U.S. has agreed to hold back on acquiring four plants with sales of approximately USD115 million.
The decision by the U.S. Department of Justice allows closing to occur on all of the operations except Alcan's Medical Flexibles operations in the U.S.