Читать на русском
Читати українською
The American pulp and paper company International Paper has confirmed its intention to acquire the British packaging company DS Smith. The proposed transaction involves the purchase of all outstanding shares for a total of £5.72 billion ($7.22 billion).
Under the terms of the offer, each DS Smith share will be exchanged for 0.1285 International Paper shares, which are traded on the New York Stock Exchange (NYSE). This exchange ratio suggests that DS Smith shareholders will own approximately 33.8% of the merged entity.
The offer values DS Smith’s shares at £4.15 each, based on International Paper’s closing share price of $40.85 on March 25, 2024. This valuation represents a 48% premium over DS Smith’s share price of £2.81 on February 7, 2024, the day before the offer period began.
International Paper’s proposal comes after Mondi’s earlier offer in March of £3.73 per share, totaling £5.14 billion. Under Mondi’s offer, its shareholders would have held a 54% stake, with DS Smith’s shareholders retaining a 46% stake in the combined company.
DS Smith is currently in ongoing discussions with Mondi, considering International Paper’s recent offer.
International Paper envisions that the merger with DS Smith will create a leading global company in the eco-friendly packaging sector, serving the consumer goods and e-commerce industries. The merger is also expected to expand the product range of the combined European corrugated packaging business.
corruga.expert
