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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