(NYSE:BERY),
MONSEY, N.Y., Nov. 19, 2024 (GLOBE NEWSWIRE) — The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed merger of Berry Global Group, Inc. (NYSE: BERY) (“Berry”) with Amcor plc (“Amcor”) in an all-stock transaction that values Berry at approximately $73.59 per share.
The implied deal price is below the price targets for Berry of at least eight Wall Street analysts, as per the list below (source: TipRanks).
If you remain a Berry shareholder and have concerns about the fairness of the exchange, you may contact our firm at the following link to discuss your legal rights at no charge:
https://wohlfruchter.com/cases/berry-global-group/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On November 19, 2024, Berry announced that it had agreed to merge with Amcor in an all-stock transaction under which each Berry shareholder will receive a fixed exchange ratio of 7.25 Amcor shares for each Berry share held at closing. The exchange values Berry at approximately $73.59 per share. After the closing, Berry shareholders will own only 37% of the combined company.
Notably, according to TipRanks, the implied deal price of $73.59 per Berry share is below the price targets for Berry of at least eight Wall Street analysts:
- Anthony Pettinari of Citi ($83.00)
- Curt Woodworth of UBS ($82.00)
- George Staphos of Bank of America ($80.00)
- Philip Ng of Jefferies ($79.00)
- Adam Samuelson of Goldman Sachs ($77.00)
- Gabrial Hajde of Wells Fargo ($77.00)
- Stefan Diaz of Morgan Stanley ($76.00)
- Michael Roxland of Truist Financial ($74.00)
“We are investigating whether the Berry Board of Directors acted in the best interests of Berry shareholders in approving the merger,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the exchange ratio agreed upon is fair to Berry shareholders, and whether all material information regarding the transaction has been fully disclosed.”
About Wohl & Fruchter
Wohl & Fruchter LLP has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
www.wohlfruchter.com
