Amcor still in talks with Rio Tinto on packaging assets

AMCOR, an Australian packaging company, said talks with Rio Tinto about parts of its Alcan Packaging businesses were continuing and there was no assurance that any transaction may result. “As part of Amcor’s consideration of this potential transaction, it is considering all its funding options,” the company said today in response to a speeding ticket from the Australian Securities Exchange about its stock’s 12 per cent gain from July 3 to Thursday’s high of $5.21. “Amcor believes that it is possible that the market has been speculating that Amcor is considering an equity raising to partially fund the possible acquisition of part, but not all, of the Alcan Packaging businesses,” it said. The company said that speculation had increased with Rio Tinto’s announcement it had entered into an agreement to sell the food packaging assets to Bemis Co. source:www.theaustralian.news.com.au