Smurfit Kappa shares jump on news of S&P 500 inclusion after merger

Smurfit Kappa shares jumped as much as 4.7 per cent in Dublin on Wednesday on news the enlarged group being formed from its merger with US cardboard box-making peer WestRock is on track to be included in S&P Dow Jones indices after the deal goes through next month.S&P Dow Jones said that for index implementation purposes WestRock will be considered the surviving merged entity as the two companies come together in a $25 billion-plus deal to form Smurfit WestRock.

Analysts, including Brian Morgan and Morgan Stanley, said news of Smurfit WestRock’s inclusion in S&P indices has come sooner than expected.CRH, the former long-standing biggest company on the Iseq in Dublin, quit the Irish market last September and moved it main listing from London to New York in an effort to join the S&P 500.

Shareholders in Smurfit Kappa and WestRock approved the imminent tie-up at separate meetings last Thursday in Dublin and Atlanta, Georgia. The WestRock deal is essentially a takeover by Smurfit Kappa that will see its shareholders own 50.4 per cent of the enlarged group, which will remain headquartered in Dublin. Smurfit Kappa chief executive Tony Smurfit and its chief financial officer, Ken Bowles, will run the new group.

الإمارات العربية المتحدة أحدث الأخبار, الإمارات العربية المتحدة عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Smurfit Kappa chair signals shareholders have backed merger with WestRockCompany requires approval from investors holding at least 75 per cent of the Irish cardboard box-maker’s stock
مصدر: IrishTimes - 🏆 3. / 98 اقرأ أكثر »

See inside Michael Smurfit's former home at the K Club as it hits the marketThe stunning five-bedroom property overlooks a world-class gold course and boasts two professionally equipped gyms, an elegant wine cellar and a fully functioning bar
مصدر: IrishMirror - 🏆 4. / 98 اقرأ أكثر »

WestRock to give more detail on merger to get $25bn Smurfit deal over lineSeveral shareholders allege documents on the deal omitted ‘material information’
مصدر: IrishTimes - 🏆 3. / 98 اقرأ أكثر »