"Global Rivalry Erupts Over DS Smith in International Paper Takeover Talks"
US-based paper producer International Paper has put forward a £5.7bn takeover proposal for UK packaging company DS Smith, challenging the previously agreed £5.14bn deal with British rival Mondi. DS Smith's shares rose 7.4% following the proposal, which would see its shareholders owning just over a third of the combined company. The potential bidding war could lead to a UK-based packaging company worth more than £10bn, with both companies touting the strategic merits and value creation of a potential combination.
