DOJ Blesses $1.2B Bemis-Alcan Union With Divestitures

By Erin Marie Daly

Law360, New York (February 25, 2010, 3:44 PM ET) -- The U.S. Department of Justice has greenlighted Wisconsin-based packaging giant Bemis Co. Inc.'s $1.2 billion acquisition of Alcan Packaging Food Americas from Rio Tinto PLC, but not without requiring Bemis to sell off certain of Alcan's assets.

The divestitures are necessary to prevent the higher prices, lower quality, less favorable supply-chain options, reduced technical support and less innovation that would have resulted if the acquisition had gone forward as originally proposed, the agency said in a statement Wednesday.

Bemis and Alcan are two of the leading...
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