Amcor is poised to cement its position as one of the world’s largest packaging businesses as its finalises details of the A$2.4bn ($2bn) purchase of Alcan packaging assets from Rio Tinto, the Anglo-Australian minder. Australian-listed Amcor had its shares placed in a trading halt on Monday pending the outcome of “late-stage negotiations” on a possible acquisition. Barring last-minute hitches, Amcor and Rio are set to announce a deal this week, and Amcor plans to help fund the deal via a A$1.6bn equity raising.

This entry was posted by Gwen Robinson on Tuesday, August 18th, 2009 at 4:56 and is filed under Capital markets, M&A. Tagged with alcan, Amcor, rio tinto. Edit this entry.