International Paper (IP) Inks Deal to Buy DS Smith for $7.4Bn [Yahoo! Finance]
International Paper Company (IP)
Last international paper company earnings: 4/30 07:00 am
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Source: Yahoo! Finance
This marks a strategic move to strengthen its corrugated packaging business in Europe and prioritize sustainable packaging. The buyout is expected to be accretive to IP's earnings in the first year of closure and provide at least $514 million of pre-tax cash synergies on an annual run-rate basis by the end of the fourth year following the close. The offer values DS Smith's entire issued and to-be-issued share capital at around £5.8 billion ($7.4 billion) on a fully diluted basis and DS Smith's enterprise value at approximately £7.8 billion ($9.9 billion). International Paper had previously proposed an all-equity acquisition of DS Smith in March 2024, triggering speculation of a potential bidding contest as rival Mondi Plc MONDY had expressed interest in acquiring DS Smith for £5.1 billion in February 2024. IP's higher bid has led DS Smith's board to accept the offer. Per the terms of the finalized deal, DS Smith shareholders would receive 0.1285 shares in International Paper for
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News
- International Paper Company (NYSE:IP) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- After Plunging -13.3% in 4 Weeks, Here's Why the Trend Might Reverse for International Paper (IP) [Yahoo! Finance]Yahoo! Finance
- M&A Scales Up [Seeking Alpha]Seeking Alpha
- SHAREHOLDER INVESTIGATION NOTICE: Halper Sadeh LLC Investigates MCBC, IP, NX, AGBAGlobeNewswire
- INVESTIGATION: The M&A Class Action Firm Announces An Investigation of International Paper Company - IPPR Newswire
IP
Earnings
- 4/25/24 - Miss
IP
Sec Filings
- 4/30/24 - Form 4
- 4/26/24 - Form DEFA14A
- 4/26/24 - Form 10-Q
- IP's page on the SEC website