MONDY - International Paper Acquires Packaging Firm DS Smith; Eyes Secondary Listing On London Stock Exchange | Benzinga
International Paper Company (NYSE:IP) has agreed to acquire all the shares of DS Smith Plc (OTC:DITHF), implying a transaction value of approximately $9.9 billion.
The terms of the combination value each DS Smith share at 415 pence per share, and will result in IP issuing 0.1285 shares for each DS Smith share.
The arrangement will result in the ownership of 66.3% of IP shareholders and 33.7% of DS Smith shareholders.
The transaction is expected to close by the fourth quarter of 2024. DS Smith has also recently received a proposal from Mondi Plc (OTC:MONDY).
“Combining with DS Smith is a logical next step in ...