Smurfit Kappa and WestRock Merge to Form $20B Packaging Giant

Smurfit Kappa, Europe's largest paper and packaging producer, is acquiring U.S. rival WestRock for $11 billion to create the world's largest paper and packaging company. The deal aims to navigate weak economies on both sides of the Atlantic. Smurfit Kappa shares dropped 10% while WestRock's rose 7.2% as analysts questioned the premium paid by Smurfit Kappa. The combined entity will have a market share of around 20% in the corrugated packaging market in Europe and North America. The deal is expected to be completed in the second quarter of 2024.