Packaging giant Smurfit Kappa's shares fall 10% after WestRock merger announcement

  • 📰 NBCNewYork
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

The companies will form Smurfit WestRock — set to be one of the largest packaging companies in the world.

Gas markets are becoming ‘extremely difficult' to predict. It's a big problem for Europe this winter

The paper-based packaging specialist was a pandemic beneficiary, boosted by the rise in e-commerce, and revenue and profits slipped in its 2023 first-half"We've always said we had a very big gap in our portfolio because we were not involved in the United States.

Smurfit said the combined company would opt for a New York primary listing as around 65% of revenues were set to be in the U.S. and Latin America, and because"multiples and the pool of capital over there is bigger for companies like ours."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 270. in BUSİNESS

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.

Packaging giant Smurfit Kappa's shares fall 11% after WestRock merger announcementThe companies will form Smurfit WestRock — set to be one of the largest packaging companies in the world.
Source: nbcchicago - 🏆 545. / 51 Read more »

Smurfit Kappa, WestRock agree merger to create $20 bln packaging giantEurope's largest paper and packaging producer Smurfit Kappa and U.S. rival WestRock agreed to merge on Tuesday to create the world's largest listed paper and packaging company worth nearly $20 billion
Source: Reuters - 🏆 2. / 97 Read more »

$20 Billion Paper Powerhouse to Be Formed by MergerSmurfit Kappa and WestRock said they reached a deal to merge. Tony Smurfit will be CEO of the combined company.
Source: WSJ - 🏆 98. / 63 Read more »

These Stocks Are Moving the Most Today: Oracle, Apple, Tesla, WestRock, Acelyrin, and MoreOracle's revenue outlook disappoints, Apple kicks off its annual fall launch event, Tesla falls a day after surging 10%, and WestRock signs an agreement to...
Source: MarketWatch - 🏆 3. / 97 Read more »