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The regulatory authority concluded that the planned merger, which was announced in September last year, does not pose a threat to competition, given the companies’ limited combined market position.
According to the report, the combined revenue of Smurfit Kappa and WestRock for the 12 months ending June 30, 2023, was about $34 billion, and the adjusted EBITDA was $5.5 billion.
As a result of the transaction, the world’s largest paper and packaging company will be created, with a total staff of about 100,000 employees, managing 500 packaging production plants and 67 plants producing 23 million tons of cardboard per year.
Meanwhile, there is an ongoing “bidding war” for DS Smith between Mondi and International Paper. Mondi has extended the deadline to consider the purchase of DS Smith for $6.5 billion until April 23. At the end of March, International Paper made a counteroffer to acquire DS Smith for more than $7 billion.
corruga.expert
