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BERRY GLOBAL GROUP INC

Berry Global Gr

Berry Global Group

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스톨리 그룹(Stoli Group)의 미국 사업 부문이 챕터 11 파산 보호 신청을 추진하고 있다. 이 회사는 11월 27일 텍사스 북부지방법원에 파산 신청서를 신청했다.

딜 디스패치: 스톨리 미국 사업부 파산 보호 신청, 앨리 파이낸셜 신용카드 부문 매각 계획

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새로이 등장한 블록 스타벅스(NASDAQ:SBUX)가 중국 사업의 일부 지분을 매각하려고 한다. 최근 1분기 중국 내 동일 매장 매출이 14% 감소하면서, 시애틀에 본사를 둔 이 커피 소매업체는 치열한 경제적 및 경쟁적 압박에 적응하기 위한 파트너십을 모색하고 있다.

딜 디스패치: 스타벅스 중국 사업 매각 고려, 노스볼트 파산, 다윈 파이낸셜이 광업에 대해 논의

Berry Global Group Inc Com

Berry Global Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BERY#NYSE">BERY</a>) reported quarterly earnings of $1.55 per share which beat the analyst consensus estimate of $1.53 by 1.31 percent. This is a 20.51 percent decrease over earnings of $1.95 per share from the same period last year. The company reported quarterly sales of $2.52 billion which beat the analyst consensus estimate of $2.51 billion by 0.36 percent. This is a 18.08 percent decrease over sales of $3.08 billion the same period last year.

Earnings

Earnings Beats

Berry Global Gr Q2 Adj. EPS $1.55 Beats $1.53 Estimate, Sales $2.52B Beat $2.51B Estimate

<a href="https://www.spglobal.com/spdji/en/documents/indexnews/announcements/20250428-1477852/1477852_bery4.pdf" title="https://www.spglobal.com/spdji/en/documents/indexnews/announcements/20250428-1477852/1477852_bery4.pdf">https://www.spglobal.com/spdji/en/documents/indexnews/announcements/20250428-1477852/1477852_bery4.pdf</a>

Markets

OKTA

Okta Will Replace Berry Global Group In The S&P MidCap 400 Effective Prior To The Opening Of Trading On Thursday, May 1

Unconditional approval satisfies final regulatory clearance; closing expected April 30, 2025
Amcor plc ("Amcor") (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMCR#NYSE">AMCR</a>, ASX: AMC))) and Berry Global Group, Inc. ("Berry") (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BERY#NYSE">BERY</a>) today announced the European Commission (EC) has granted unconditional approval under the EU Merger Regulation for the previously announced combination of the two companies, satisfying the final regulatory clearance required. In accordance with the merger agreement, this enables the companies to complete the remaining steps towards closing. The transaction is expected to close on April 30, 2025, subject to the satisfaction or waiver of certain other closing conditions.

Amcor-Berry Merger Gains Unconditional EU Approval; Merger Set To Close On April 30, 2025

Truist Securities analyst Michael Roxland maintains Berry Global Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BERY#NYSE">BERY</a>) with a Hold and lowers the price target from $76 to $71.

Price Target

Analyst Ratings

Truist Securities Maintains Hold on Berry Global Gr, Lowers Price Target to $71

General

Amcor And Berry Global Group Announced That Shareholders Of Both Companies Voted To Approve The Combination Of These Two Companies, The Combination Is Well Advanced And Is Expected To Close In Mid Calendar Year 2025

Truist Securities analyst Michael Roxland maintains Berry Global Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BERY#NYSE">BERY</a>) with a Hold and raises the price target from $74 to $76.

Truist Securities Maintains Hold on Berry Global Gr, Raises Price Target to $76

UBS analyst Joshua Spector maintains Berry Global Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BERY#NYSE">BERY</a>) with a Neutral and raises the price target from $72 to $73.

UBS Maintains Neutral on Berry Global Gr, Raises Price Target to $73

U.S. stocks advanced midday Tuesday, demonstrating resilience despite escalating geopolitical tensions and trade uncertainties between the <a href="https://www.benzinga.com/news/econ-s">world&#8217;s two largest economies.</a>
China responded to President Donald Trump&#8216;s 10% import tariff with targeted countermeasures, including restrictions on key mineral exports to the U.S. and tariffs on American energy products.
Beijing is raising tariffs by 10%-15% on select U.S. imports, including coal, liquefied natural gas, crude oil, agricultural machinery and vehicles. Additionally, China added PVH Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>) and Illumina Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>) to its &#8220;Unreliable Entity List,&#8221; citing the need to &#8220;safeguard national sovereignty, security, and development interests,&#8221; and opened an antitrust investigation on Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>).
Market participants had anticipated a call between Trump and Chinese President Xi Jinping on Tuesday, but media reports indicated the conversation would not happen today.
The trade developments had an immediate impact on oil markets, with West Texas Intermediate crude futures plunging 3% overnight to as low as $70 per barrel. 
Yet, prices rebounded sharply Tuesday morning following reports that Trump is considering issuing a memorandum aimed at inflicting <a href="https://www.benzinga.com/economics/macro-economic-events/25/02/43469234/trump-prepares-maximum-pressure-on-iran-oil-jumps-above-73-energy-stocks-rally">maximum economic damage on Iran</a>, potentially leading to a sharp decline in Iranian oil production.
Energy stocks outperformed on the day, while utilities lagged. 
Among individual stocks, Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) rocketed 22% after posting strong earnings and a revenue beat. 
In the commodities market, gold added more than 1%, extending its all-time high, and silver jumped 2.2%. Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) declined 2% to $99,000.
<h1 class="wp-block-heading">Tuesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,281.54</td>
<td>1.0%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>21,495.31</td>
<td>0.9%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>6,029.97</td>
<td>0.6%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>44,501.00</td>
<td>0.2%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:55 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent020325&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;rose 0.5% to $600.53.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) inched 0.1% higher to $444.77.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;rose 0.9% to $522.81.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rallied 1.1% to $226.80.</li>
<li>The&nbsp;Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, up 1.9%; the&nbsp;Utilities Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, down 0.8%.</li>
</ul>
<h1 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h1>
Stocks reacting to earnings report included: 
<ul>
<li>Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>): down 1.53%</li>
<li>PepsiCo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>): down 4.43%</li>
<li>Merck &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>): down 10.49%</li>
<li>PayPal Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>): down 11.57%</li>
<li>Archer-Daniels-Midland Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>): down 3.58%</li>
<li>KKR &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>): down 7.90%</li>
<li>Cummins Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>): up 3.81%</li>
<li>Enterprise Products Partners L.P. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EPD#NYSE">EPD</a>): down 0.99%</li>
<li>Marathon Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>): up 5.85%</li>
<li>Estee Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>): down 16.35%</li>
<li>Apollo Global Management Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>): down 2.78%</li>
<li>Fox Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXA#NASDAQ">FOXA</a>): up 4.00%</li>
<li>Ametek Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AME#NYSE">AME</a>): down 1.00%</li>
<li>Xylem Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYL#NYSE">XYL</a>): up 5.85%</li>
<li>Ferrari NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>): up 7.62%</li>
<li>Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>): up 10.46%</li>
<li>Regeneron Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>): up 4.71%</li>
<li>Jacobs Solutions Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/J#NYSE">J</a>): down 2.72%</li>
<li>Aramark (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARMK#NYSE">ARMK</a>): down 1.51%</li>
<li>Gartner Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IT#NYSE">IT</a>): up 0.77%</li>
<li>Centene Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNC#NYSE">CNC</a>): down 3.41%</li>
<li>Atkore Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATKR#NYSE">ATKR</a>): down 20.50%</li>
<li>Berry Global Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BERY#NYSE">BERY</a>): up 4.15%</li>
<li>WEC Energy Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WEC#NYSE">WEC</a>): down 1.52%</li>
<li>Hubbell Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUBB#NYSE">HUBB</a>): down 0.55%</li>
<li>TransDigm Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDG#NYSE">TDG</a>): down 1.60%</li>
<li>Graphic Packaging Holding Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPK#NYSE">GPK</a>): down 1.76%</li>
<li>CNH Industrial NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNHI#NYSE">CNHI</a>): up 1.71%</li>
<li>Ingredion Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INGR#NYSE">INGR</a>): down 6.12%</li>
<li>ATI Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATI#NYSE">ATI</a>): up 7.02%</li>
<li>Ball Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BALL#NYSE">BALL</a>): down 8.03%</li>
<li>Lancaster Colony Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LANC#NASDAQ">LANC</a>): up 9.27%</li>
<li>Premier Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PINC#NASDAQ">PINC</a>): down 15.36%</li>
<li>MPLX LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPLX#NYSE">MPLX</a>): up 2.92%</li>
<li>Oaktree Specialty Lending Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCSL#NASDAQ">OCSL</a>): down 3.42%</li>
<li>PJT Partners Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PJT#NYSE">PJT</a>): up 12.77%</li>
<li>Energizer Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENR#NYSE">ENR</a>): down 4.45%</li>
<li>Silicon Laboratories Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLAB#NASDAQ">SLAB</a>): down 1.05%</li>
<li>Hamilton Lane Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HLNE#NASDAQ">HLNE</a>): down 0.01%</li>
<li>Madison Square Garden Sports Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSGS#NYSE">MSGS</a>): down 3.74%</li>
<li>Pentair Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNR#NYSE">PNR</a>): down 1.89%</li>
<li>Amcor Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMCR#NYSE">AMCR</a>): up 3.87%</li>
<li>Inmode Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INMD#NASDAQ">INMD</a>): up 2.82%</li>
<li>Willis Towers Watson Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTW#NASDAQ">WTW</a>): down 3.54%</li>
<li>Axalta Coating Systems Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXTA#NYSE">AXTA</a>): up 7.86%</li>
<li>Mesa Laboratories Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLAB#NASDAQ">MLAB</a>): up 10.48%</li>
</ul>
Major companies reporting their earnings after the close are Alphabet Inc., Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Mondelez International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>), Chipotle Mexican Grill Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>), Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>), Prudential Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>), Simon Property Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPG#NYSE">SPG</a>), Atmos Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATO#NYSE">ATO</a>), Aspen Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZPN#NASDAQ">AZPN</a>), Carlisle Cos. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CSL#NYSE">CSL</a>), Fair Isaac Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FICO#NYSE">FICO</a>), Jack Henry &amp; Associates Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JKHY#NASDAQ">JKHY</a>), Idex Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEX#NYSE">IEX</a>) and Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>).
Read Now: 
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<li><a href="https://www.benzinga.com/25/02/43468887/robert-f-kennedy-nomination-advances-to-full-senate-vaccine-stocks-drop">Robert F. Kennedy&#8217;s Health Secretary Nomination Advances To Full Senate: Vaccine Stocks Drop</a></li>
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Photo: Marek Masik via Shutterstock

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US Stocks Rise Despite China's Trade Fears, Palantir Defies Gravity, Gold Rallies Further: What's Driving Markets Tuesday?

Fiscal Year 2025 Guidance - Reaffirmed
<ul>
<li>Adjusted earnings per share range of $6.10-$6.60 (Fiscal 2024 comparable ~$6.00)</li>
<li>Cash flow from operations of $1.125-$1.225 billion; free cash flow of $600-$700 million</li>
<li>Committed to further debt reduction</li>
</ul>

Guidance

Berry Sees FY25 Adj. EPS Guidance Of $6.10-$6.60 Vs $6.30 Est., Cash Flow from Operations $1.125B-$1.225B, Free Cash Flow $600M-$700M, Committed To Debt Reduction

Berry Global Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BERY#NYSE">BERY</a>) reported quarterly earnings of $1.09 per share which beat the analyst consensus estimate of $0.98 by 11.22 percent. This is a 4.81 percent increase over earnings of $1.04 per share from the same period last year. The company reported quarterly sales of $2.38 billion which beat the analyst consensus estimate of $2.35 billion by 1.59 percent. This is a 2.23 percent increase over sales of $2.33 billion the same period last year.

Berry Global Gr Q1 Adj $1.09 Beats $0.98 Estimate, Sales $2.38B Beat $2.35B Estimate

Berry Global Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BERY#NYSE">BERY</a>) reported its Q1 earnings results on Tuesday, February 4, 2025 at 09:15 AM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Berry Global Gr beat estimated earnings by 10.0%, reporting an EPS of $1.09 versus an estimate of $0.99.
Revenue was down $468.00 million from the same period last year.
<h3>Previous Earnings Records</h3>
The company beat on EPS by $0.02 in the previous quarter, leading to a 4.0% increase share price change the next day.
Here's a look at Berry Global Gr's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q4 2024</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>2.25</td>
<td>2.05</td>
<td>1.91</td>
<td>1.29</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>2.27</td>
<td>2.18</td>
<td>1.95</td>
<td>1.22</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>3.13B</td>
<td>3.25B</td>
<td>3.16B</td>
<td>2.99B</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>3.17B</td>
<td>3.16B</td>
<td>3.08B</td>
<td>2.85B</td>
</tr>
</tbody>
</table>

To track all earnings releases for Berry Global Gr <a href="https://www.benzinga.com/quote/BERY/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Berry Global Gr: Q1 Earnings Insights

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Earnings Scheduled For February 4, 2025

Amcor And Berry Global Group Announce Filing Of Joint Proxy Statement With SEC

UBS analyst Joshua Spector maintains Berry Global Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BERY#NYSE">BERY</a>) with a Neutral and lowers the price target from $75 to $72.

UBS Maintains Neutral on Berry Global Gr, Lowers Price Target to $72

Truist Securities analyst Michael Roxland maintains Berry Global Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BERY#NYSE">BERY</a>) with a Hold and raises the price target from $72 to $74.

Truist Securities Maintains Hold on Berry Global Gr, Raises Price Target to $74

Combination of Amcor and Berry Global Creates a Compelling Investment Opportunity, With 50%-70% in Potential Upside as Synergies are Realized and Valuation Re-Rates
Ancora Holdings Group LLC (collectively with its affiliates, "Ancora") today released its positive investment thesis on Amcor plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMCR#NYSE">AMCR</a>, ASX: AMC))) ("Amcor") that was presented at the Bloomberg Activism Forum by James Chadwick, President of Ancora Alternatives LLC. This follows Amcor's recently announced merger with Berry Global Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BERY#NYSE">BERY</a>) ("Berry"), which the companies expect to close in the middle of next year.1 The presentation can be accessed <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fancora.s3.us-west-1.amazonaws.com%2FAncora-Bloomberg%2BPresentation%2B2024.pdf&amp;esheet=54164708&amp;newsitemid=20241210217729&amp;lan=en-US&amp;anchor=here&amp;index=1&amp;md5=e88dc14e1afda2e5cd70df03e9846f63">here</a>.
Key points from the presentation:2
<ul>
<li>The combined entity stands to be a premium packaging company with a durable free cash flow profile and a conservatively estimated $650 million in synergies, at what we believe is a significantly discounted valuation.</li>
<li>The combination creates a compelling investment opportunity with 50% to 70% upside, underpinned by Ancora's strong conviction that the announced synergies are conservative.</li>
<li>On a proforma basis, Ancora estimates the combined entity's EBITDA could be $4.5 billion and its shares could rise from ~$10 today to ~$16 in the coming years.</li>
</ul>

Ancora Releases Amcor nvestment Thesis Presented At The Annual Bloomberg Activism Forum; Says "Combination Of Amcor And Berry Global Creates A Compelling Investment Opportunity, With 50%-70% In Potential Upside As Synergies Are Realized And Valuation Re-Rates"

The U.S. division of Stoli Group hopes to get a deal under <a href="https://www.benzinga.com/topic/bankruptcy">Chapter 11 bankruptcy protection</a>. 
The company applied on Nov. 27 to the U.S. Bankruptcy Court in the Northern District of Texas. 
Stoli Group USA, based in New York, and Kentucky Owl American whiskey business plan to restructure all assets, valued up to $500 million. See below. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Stoli Group USA Files Chapter 11 with Up to $500M in Assets, Affiliate Kentucky Owl Joins Restructuring BANKRUPTCY FILING ALERT &#x1f6a8; Stoli Group (USA), LLC Chapter 11 &#8211; Northern District of Texas Filed: 11/27/2024 Case No. 24-80146 &#x1f4ca; Assets: $100M-$500M &#x7C; Liabilities:… <a href="https://t.co/TSZG8Hcd3e">pic.twitter.com/TSZG8Hcd3e</a>
&mdash; RK &#x7C; Consultants (@_RKConsultants) <a href="https://twitter.com/_RKConsultants/status/1861924768653390088?ref_src=twsrc%5Etfw">November 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<h3 class="wp-block-heading">New On The Block</h3>
<ul>
<li>Ally Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) is auctioning off its credit card unit after just three years of ownership, per <a href="https://www.bloomberg.com/news/articles/2024-11-22/ally-financial-is-said-to-weigh-sale-of-credit-card-business?srnd=phx-deals">Bloomberg</a>. The Detroit-based auto lender acquired the segment in 2021 for $750 million. </li>
<li>D.W. Shaw hired Alantra Partners to run the sale process for its Spanish non-performing loans and real estate assets, <a href="https://www.bloomberg.com/news/articles/2024-11-22/d-e-shaw-is-seeking-to-sell-400-million-in-spanish-assets?srnd=phx-deals">Bloomberg</a> reports. The value of the portfolio is roughly €380 million (US$402 million). </li>
<li>Mumbai-based Edelweiss Financial Services of India hired Nomura to find a buyer for a minority stake in its mutual fund business, which could have a total valuation of $700 million to $800 million, according to <a href="https://economictimes.indiatimes.com/mf/mf-news/edelweiss-hires-nomura-for-mutual-fund-unit-stake-sale/articleshow/115646343.cms?from=mdr">the Economic Times</a>.</li>
</ul>
See Also: <a href="https://www.benzinga.com/news/large-cap/24/11/42249801/fridays-top-5-trending-stocks-whats-going-on-with-smci-nvidia-microstrategy">Friday&#8217;s Top 5 Trending Stocks: What&#8217;s Going On With SMCI, Nvidia, MicroStrategy?</a>
<h3 class="wp-block-heading">Updates From The Block</h3>
<ul>
<li>The Container Store has been unable to ink a deal or find financing. According to <a href="https://www.cnn.com/2024/11/29/business/the-container-store-black-friday-shopping/index.html">CNN</a>, the Coppell, Texas-based company — known for selling bins — hoped for a $40 million financial lifeline from Beyond, the owner of Bed Bath &amp; Beyond and Overstock.com. But, the agreement hasn&#8217;t worked out and now the franchise is on the verge of bankruptcy, although it hasn&#8217;t filed yet. </li>
</ul>
<ul>
<li>Anglo American&nbsp;(LSE: AAL) agreed to sell its Australian steelmaking coal mines to Peabody Energy&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTU#NYSE">BTU</a>) <a href="https://www.benzinga.com/24/11/42166102/anglo-american-sells-coal-portfolio-for-38-billion-continues-restructuring">for about $3.8 billion</a>. This comes just days before mining giant BHP Group Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) is allowed to renew its takeover efforts for Anglo American.</li>
</ul>
<ul>
<li>Acquisition-hungry UniCredit (Milan: UCG) offered to acquire Italian lender Banco BPM (Milan: BAMI). The €10 billion offer was rejected, according to <a href="https://www.axios.com/2024/11/25/unicredit-italian-bank?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=newsletter_axiosprorata&amp;stream=top">Axios</a>. UniCredit also wants to buy Germany-based Commerzbank.</li>
</ul>
<ul>
<li>Gold miner Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) sold its Éléonore mine in Quebec Tuesday to London-based Dhilmar <a href="https://www.benzinga.com/news/asset-sales/24/11/42202141/newmont-sells-mine-for-795-million-barrick-expands-reserves-top-miners-unfazed-by-underperformance">for $795 million in cash</a>. The sale follows Newmont's strategy to divest non-core assets following its milestone acquisition of Newcrest Mining in 2023. </li>
</ul>
<ul>
<li>Schneider National, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNDR#NYSE">SNDR</a>) disclosed that it has agreed to acquire Cowan Systems, LLC and its affiliates for approximately <a href="https://www.benzinga.com/news/mid-cap/24/11/42170700/schneider-expands-its-fleet-390-million-cowan-systems-deal-supercharges-dedicated-services">$390 million in cash</a>, subject to adjustments. The deal also includes a separate purchase of related real estate assets for $31 million. </li>
</ul>
For last week&#8217;s Deal Dispatch, <a href="https://www.benzinga.com/markets/commodities/24/11/42147945/deal-dispatch-starbucks-considers-china-sale-private-equity-bankrupts-snack-company-darwin-financial-talks-mining">click here</a>.
Now Read: 
<ul>
<li>Trump&#8217;s Proposed Tariffs Target Mexico, Canada, US Automakers; Wall Street Shrugs Off Concerns, Soars To Record Highs: This Week In The Markets</li>
</ul>
Image: Benzinga

Deal Dispatch: Stoli On The Rocks As US Business Goes Bankrupt, Ally Financial To Sell Credit Card Unit

Barclays analyst Michael Leithead maintains Berry Global Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BERY#NYSE">BERY</a>) with a Equal-Weight and raises the price target from $64 to $75.

Barclays Maintains Equal-Weight on Berry Global Gr, Raises Price Target to $75

Berry Global Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BERY#NYSE">BERY</a>) shares are trading lower on Tuesday. On Monday, the company disclosed an agreement to sell its Specialty Tapes business to Nautic Partners, LLC, for around $540 million, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b42179476/berry-global-announces-agreement-to-sell-specialty-tapes-business-to-nautic-partners" rel="noreferrer noopener">subject to closing adjustments</a>.
The divestment aligns with its strategy of focusing on higher-growth, consumer-oriented markets. The company plans to use proceeds from the sale to reduce debt.
The sale is expected to close in the first half of 2025, subject to customary closing conditions.
Including the cash received from its recent HHNF spin-off and the Tapes sale, Berry's pro forma net debt as of September 30, 2024, is expected to be approximately $5.9 billion, representing a 3.5x LTM net leverage ratio.
Berry CEO, Kevin Kwilinski, said, &#8220;Over the past year, Berry has undergone a significant transformation, completing the spin-off of our HHNF business, enhancing our product mix and optimizing our portfolio. The sale of Tapes further supports these efforts and the continued focus on our high-growth consumer portfolio.&#8221;
This month, Berry Global agreed to merge&nbsp;with Amcor plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMCR#NYSE">AMCR</a>) in an all-stock transaction, with the deal valuing Berry&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/24/11/42069248/amcor-and-berry-seal-the-deal-73-59-per-share-merger-to-forge-packaging-powerhouse" rel="noreferrer noopener">stock at $73.59 per share</a>.
The companies anticipate a $650 million benefit from synergies by the end of year three, including $530 million in annual pre-tax cost savings, $60 million in financial savings, and $60 million from growth synergies.
Berry Global&nbsp;noted the sale of the Tapes business further reinforces the strategic rationale for the combination and has no material impact on the financial profile of the combined entity.
Price Action: BERY shares are down 1.47% at $70.50 at the last check Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/commodities/24/11/42147945/deal-dispatch-starbucks-considers-china-sale-private-equity-bankrupts-snack-company-darwin-financial-talks-mining" target="_blank" rel="noreferrer noopener">Deal Dispatch: Starbucks Considers China Sale, Private Equity Bankrupts Snack Company, Darwin Financial Talks Mining</a></li>
</ul>

Equities

Mid Cap

Merger-Bound Berry Global Agrees To Divest Specialty Tapes Unit For ~$540M

Berry plans to use proceeds from the transaction to pay down outstanding debt at Berry. Adjusted for both the cash distribution received in November 2024 on close of Berry's Health, Hygiene and Specialties Global Nonwovens and Films business ("HHNF") spin-off, and the net cash proceeds1 expected on the sale of Tapes, totaling $1.3 billion, Berry's pro forma net debt as of September 30, 2024 was approximately $5.9 billion (3.5x LTM net leverage).

Reported Earlier, Berry Global Sells Specialty Tapes Business To Nautic Partners For $540M

Press Releases

Amcor Announces Consent Solicitations for Berry's Outstanding Notes

Berry Global Receives EcoVadis Gold Medal for Sustainability

Amcor Announces Expiration and Results of Solicitations for Berry's Outstanding Notes

Amcor and Berry Global Receive US Antitrust Clearance for Combination; on Track for Closing in Mid Calendar Year 2025

AMCOR AND BERRY GLOBAL RECEIVE US ANTITRUST CLEARANCE FOR COMBINATION; ON TRACK FOR CLOSING IN MID CALENDAR YEAR 2025

Berry Global Announces Significant Progress in 2024 Sustainability Report

Amcor and Berry Receive European Commission Antitrust Approval for Combination

Amcor and Berry receive European Commission antitrust approval for combination

Okta Set to Join S&P MidCap 400

Berry Announces Second Quarter 2025 Results

SPGI

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