WestRock in Talks With Smurfit Kappa Over $20 Billion Paper Merger. The Stock Is Rising.

WestRock is in merger talks with Ireland’s Smurfit Kappa that could potentially create a paper and packaging company worth about $20 billion.

Dublin-based Smurfit , listed in Ireland and on the U.K.’s benchmark FTSE 100 index, confirmed the talks in a statement Thursday after it was first reported by The Wall Street Journal. The combined group would only be listed in New York. WestRock shareholders would “primarily” receive stock in the combined group, but no further details were given by Smurfit.The discussions are still taking place and the transaction may not happen, the company said.

International Paper abandoned a bid for Smurfit Kappa in 2018, and since then Smurfit has made several acquisitions. WestRock’s biggest transaction to date was the $5 billion acquisition of KapStone Paper and Packaging in 2018.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

WSJ News Exclusive | Paper Companies Near Big Merger DealWestRock, Smurfit Kappa are in talks to create a company with combined value of roughly $20 billion.
Source: WSJ - 🏆 98. / 63 Read more »

Stocks to Watch Thursday: Apple, WestRock, GameStop↘️ Apple (AAPL): Apple shares traded down about 2.6% premarket, building on Wednesday's declines, as investors continued to assess the implications of [China’s ban on iPhone use for government officials](https://www.wsj.com/world/china/china-ban
Source: WSJ - 🏆 98. / 63 Read more »

These Stocks Are Moving the Most Today: C3.ai, GameStop, UiPath, ChargePoint, Yext, BlackBerry, WestRock, and MoreC3.ai withdraws its forecast that it would reach profitability on an adjusted basis by the end of fiscal 2024, GameStop reports a narrower-than-expected...
Source: MarketWatch - 🏆 3. / 97 Read more »