International Paper to buy DS Smith in $9.9B deal
16 Abril 2024 - 11:19AM
IH Market News
International Paper Co. has announced a significant acquisition of
DS Smith Plc, agreeing to a purchase price of 415 pence per share,
which totals approximately $9.9 billion. As part of the acquisition
terms, International Paper shareholders will hold a 66.3% stake in
the merged entity, while DS Smith shareholders will retain
33.7%.
This major transaction is scheduled for completion by the fourth
quarter of 2024. Post-merger, Andrew Silvernail, currently CEO of
International Paper, will lead the combined company, which will be
headquartered in Memphis, Tennessee. Additionally, DS Smith’s CEO,
Miles Roberts, will transition to a consulting role to aid with
integration processes.
Furthermore, the combined entity plans to list its primary
shares on the New York Stock Exchange with a secondary listing on
the London Stock Exchange. However, the merger is expected to
result in the reduction of about 400 jobs as part of integration
efforts.
The market reacted to this news with DS Smith’s (LSE:SMDS) stock
dropping 3.32%, indicating investor reservations about the deal or
concerns over the job cuts.
Smith (ds) (LSE:SMDS)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Smith (ds) (LSE:SMDS)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024