DS Smith agreed to be taken over by International Paper for $7.2 billion
International Paper Co.’s all-stock offer to buy DS Smith Plc has taken a hit in value. US-based suitor's shares now worth less than an earlier proposal by rival bidder Mondi Plc. Mondi's offer is less than that of rival bidder International Paper.
The proposed tie-up with US firm International Paper would see DS Smith leave the FTSE 100 with the combined group taking a secondary UK listing. The combined group would be the first major British company to leave the UK stock market in the past. The proposed deal would see the group take a secondary listing in the UK.
DS Smith agrees £5.8bn takeover deal with International Paper. The two businesses said tie-up would help create a major sustainable packaging company across Europe and North America and 'optimise' their mill networks, supply chains and freight costs. Ties-up said to help create major'sustainable packaging company'
International Paper Co. agreed to buy DS Smith Plc for £5.8 billion ($7.2 billion) International Paper bested rival suitor Mondi Plc in the battle for the UK packaging company. International Paper will buy the packaging company for around $7 billion.
UK packaging firm DS Smith agrees £5.8bn takeover by US group International Paper. International Paper settles all-share deal after tussle with British rival Mondi. UK packaging company DS Smith to be bought by US company International Paper in £5bn deal.
DS Smith backs £5.8bn all-share takeover by US rival International Paper. International Paper admits deal could result in some job losses but says it will continue to be represented in London through a secondary listing. FTSE 100 firm admits it could be affected by job losses, but says secondary listing will continue.
International Paper closes in on £5bn deal for London-listed DS Smith. US-based paper producer and its British peer could announce all-stock tie-up as soon as this week. Sky News learns that International Paper and DS Smith could announce deal this weekend.
US paper giant International Paper pledges to keep HQ in London. Mondi takeover of DS Smith by Mondi last week hijacked takeover of UK paper giant. International Paper came clean over its plans should its £5.7bn deal be successful. International paper has pledged to stay in London if successful.
International Paper hijacked a proposed takeover of DS Smith by fellow FTSE 100 firm Mondi. Mondi bid for DS Smith was rejected by the U.S. company in a dramatic move on Tuesday. International Paper: 'Americans crashing Mondi's bid for UK listing' Mondi: 'It's not a good idea'
US-based International Paper puts in £5.7bn takeover proposal for DS Smith, gatecrashing Mondi offer. Mondi's offer for UK packaging giant gatecrashes Mondi takeover bid for UK firm. International Paper put in bid to buy DS Smith from Mondi, but Mondi rejected it.
FTSE 100 firm in talks with International Paper over a possible takeover offer worth £5.7bn. FTSe 100 firm last night said it was in talks over a potential takeover offer of 415p a share. International Paper is expected to make a bid for DS Smith at 415p per share.