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0 0.0046043165467627 0.00287769784172666 0.00316546762589926 0.00719424460431655 -0.00546762589928051 -0.00719424460431655 -0.00863309352517977
Stock impact report

Mondi drops out of race to buy DS Smith in win for rival International Paper [Reuters]

International Paper Company (IP) 
Last international paper company earnings: 4/30 07:00 am Check Earnings Report
US:NYSE Investor Relations: internationalpaper.com/performance
Company Research Source: Reuters
, opens new tab said on Friday it would not make an offer to buy DS Smith (SMDS.L) New Tab , opens new tab , bowing out of the battle after its UK peer agreed to a 5.8 billion pound deal with International Paper (IP.N) New Tab , opens new tab earlier this week. Mondi said it had decided a transaction "would not be in the best interests of its shareholders". The company first made its interest known in early February and had reached a deal in principle in March to buy DS Smith in an all-stock deal valued at 5.14 billion pounds. Report this ad International Paper late last month had made a higher counter-bid as it sought to expand its European presence at a time of consolidation in the sector. Coming soon: Get the latest news and expert analysis about the state of the global economy with Reuters Econ World. Sign up here. Reporting by Yadarisa Shabong in Bengaluru; Editing by Rashmi Aich and Krishna Chandra Eluri Our Standards: The Thomson Reuters Trust Principles. New Show less Read more
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