The Freedonia Group's Packaging Industry Team of Analysts Discuss International Paper's Agreement to Acquire DS Smith [Yahoo! Finance]
International Paper Company (IP)
Last international paper company earnings: 4/30 07:00 am
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Source: Yahoo! Finance
CLEVELAND April 16, 2024 /PRNewswire/ -- On April 16 , International Paper, a US-based leading multinational paper packaging manufacturer, announced that there was an agreement in place to purchase DS Smith, a UK-based leading multinational paper, paperboard, and corrugated packaging supplier. The transaction, followed a bidding war with fellow UK-based paper packaging leader Mondi, will be valued at approximately $9.9 billion . This purchase is expected to be completed by the 4 th quarter of 2024. DS Smith notes that the purchase price is nearly a 48% premium over the closing price of its stock on February 7 , just before Mondi first publicly expressed interest in acquiring the firm. According to Freedonia Packaging Industry Analyst Christine O'Keefe , "The purchase of DS Smith by International Paper would widen IP's lead in the global corrugated market, even after the pending merger of Smurfit-Kappa and WestRock closes in July which would have surpassed IP's position alone."
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IP
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- 4/25/24 - Miss
IP
Sec Filings
- 4/26/24 - Form DEFA14A
- 4/26/24 - Form 10-Q
- 4/25/24 - Form DEFA14A
- IP's page on the SEC website