Smurfit Kappa shares slump as investors to own 50.4% of group after WestRock merger

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Smurfit Kappa shares slump as investors to own 50.4% of group after WestRock merger
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Irish group’s CEO Tony Smurfit to lead merged group, which will be known as Smurfit WestRock

  • 📰 IrishTimes
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Smurfit Kappa’s shares slumped on Tuesday as investors digested news that they end up with 50.4 per cent of a $20 billion-plus merged group it has agreed to create with US peer WestRock.

The Dublin-based company said that the deal would see WestRock investors receive the equivalent of $43.51 per share, mainly by way of new stock in the enlarged group, to be known as Smurfit WestRock, but also including $5 in cash. The price marks a premium to the $31.88 level at which WestRock shares closed last Wednesday, before news of the tie-up talks emerged.READ MORE

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