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.
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