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Bemis (BMS) Alert: Johnson Fistel Investigates Proposed Sale of Bemis Company, Inc.; Are Shareholders Getting a Fair Deal?

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Bemis (BMS) Alert: Johnson Fistel Investigates Proposed Sale of Bemis Company, Inc.; Are Shareholders Getting a Fair Deal?

PR Newswire

SAN DIEGO, Aug. 6, 2018 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Bemis Company, Inc. (NYSE:BMS) ("Bemis") breached their fiduciary duties in connection with the proposed sale of the Company to Amcor Limited ("Amcor"). Bemis manufactures and sells packaging products in the United States, Brazil, other Americas, Europe, and the Asia-Pacific.

On August 6, 2018, Bemis announced that it had signed a definitive merger agreement with Amcor. Under the terms of the agreement, Bemis shareholders will receive 5.1 Amcor shares for each Bemis share, resulting in Amcor and Bemis shareholders owning approximately 71% and 29% of the combined company, respectively. This is equivalent to a transaction price of $57.75 per Bemis share based on Amcor's closing share price of $15.28 on August 3, 2018. However, shareholders will be subject to the future price fluctuation of Amcor's stock price.

The investigation concerns whether the Bemis board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Bemis shares of common stock. Many of Bemis' senior executives are due to receive millions of dollars in change of control payouts upon consummation of the transaction.

If you are a shareholder of Bemis and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.

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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com

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SOURCE Johnson Fistel, LLP

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