In a noteworthy deal, International Paper Co. has agreed to acquire DS Smith Plc for £5.8 billion, which approximates to $7.2 billion. Prevailing over rival suitor Mondi Plc, the U.S. multinational corporation, International Paper Co., reconfirms its prominence in the packaging industry.
The agreed all-stock deal makes way for a global leader in packaging, as per the statement made by International Paper on Tuesday. The terms of the agreement dictate that the U.S. company will pay 0.1285 new shares of International Paper for each DS Smith share.
International Paper advance this formal offer in late March and it has now won the endorsement of DS Smith’s management. Translating to 415 pence per share, this bid defines a new chapter in the international packaging industry.