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Smurfit Kappa

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business2 years ago•3 min saved

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.

via Reuters.com|

#business #merger #packaging

business2 years ago•2 min saved

Smurfit Kappa and WestRock Nearing Merger Deal

Smurfit Kappa, Europe's largest paper and packaging producer, is in talks to merge with U.S. rival WestRock, creating a global giant in the industry. The combined entity, to be named Smurfit WestRock, would be domiciled in Ireland with its global headquarters in Dublin and listed on the New York Stock Exchange. The merger would offer complementary portfolios, innovative sustainability capabilities, and potential cost savings of over $400 million. The deal is subject to shareholder and regulatory approval.

via Reuters|

#business #global-headquarters #merger