Smurfit Kappa, WestRock agree merger to create $20 bln packaging giant

agreed to merge on Tuesday to create the world's largest listed paper and packaging company worth nearly $20 billion

Shares in Ireland's Smurfit Kappa fell 8% in early trade to 32.9 euros, having also dropped last week when said that it was inAnalysts at JP Morgan and Jeffries said the 36% premium being paid to WestRock's $31.88 Sept. 6 closing price was higher than most Smurfit investors were hoping for. JP Morgan said most investors it had spoken to had assumed a 15%-20% premium.

The companies' had a combined adjusted core profit of $5.5 billion and revenue of about $34 billion for the year ended June 30, which would make Smurfit WestRock the largest listed global packaging group by revenue, the statement said.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

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.
Fuente: nbcchicago - 🏆 545. / 51 Leer más »

$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.
Fuente: WSJ - 🏆 98. / 63 Leer más »

Fast-food companies pull referendum, agree to $20 minimum wageThe agreement also eliminates a controversial proposal that would have held fast food corporations legally responsible for harassment, wage theft or labor violations that occur at franchise locatio…
Fuente: ladailynews - 🏆 332. / 59 Leer más »