Amcor plc and Berry Global Group, Inc. have announced they have entered into a definitive merger agreement, under which Amcor and Berry will combine in an all-stock transaction. Berry shareholders will receive a fixed exchange ratio of 7.25 Amcor shares for each Berry share held upon closing, resulting in Amcor and Berry shareholders owning approximately 63% and 37% of the combined company, respectively. The transaction has received unanimous approval from the boards of directors of both Amcor and Berry and values Berry's common stock at $73.59 per share. The combination brings together two highly complementary businesses to create a global leader in consumer packaging solutions, with a broader flexible film and converted film offering for customers, a scaled containers and closures business, and a unique global healthcare portfolio.