Post-merger, Smurfit Kappa shareholders will command a 50.4% stake, while WestRock shareholders will retain 49.6% in the unified company.
In a landmark decision, WestRock Company announced that its stockholders have voted in favor of the transaction agreement and other proposals related to the strategic combination with Smurfit Kappa Group.
Under the terms of the transaction agreement, which was entered into on September 12, 2023, Smurfit WestRock will acquire Smurfit Kappa through a scheme of arrangement under the Companies Act 2014 of Ireland (as amended). Additionally, Sun Merger Sub, LLC, a wholly-owned subsidiary of Smurfit WestRock, will merge with and into WestRock, with WestRock surviving the Merger as a wholly-owned subsidiary of Smurfit WestRock.
Upon completion of the merger, WestRock’s common stockholders are set to receive one new share of Smurfit WestRock and $5.00 in cash for each share of WestRock common stock they hold. The completion of this combination is subject to certain conditions as outlined in the transaction agreement.
This merger is poised to reshape the packaging industry landscape by uniting two of its most significant players, promising to deliver enhanced value to customers and stakeholders alike.
corruga.expert
