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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