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

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

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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."

 

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इंडिया ताज़ा खबर, इंडिया मुख्य बातें

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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.
स्रोत: nbcchicago - 🏆 545. / 51 और पढो »

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
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$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.
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