Australian packaging company Amcor Ltd (AMC.AX) is in advanced talks to buy U.S. rival Bemis Co (BMS.N) the Wall Street Journal reported on Friday, citing people familiar with the matter.
Shares of Bemis, which has a market value of about $4.20 billion, closed up 11.27 percent at $51.53 on Friday.
A deal could be announced as soon as next week, according to the report.
When asked by Reuters about the possible acquisition on Saturday, a spokesman for Amcor declined to comment.
Bemis was not immediately available for comment.
Source: Reuters.com