Hints and tips:
...Volumes fell 3.5 per cent last year as the Covid-19 demand for ecommerce and cardboard packaging faded, knocking shares in Smurfit, WestRock and rival International Paper off 2021 highs....
...Smurfit, which is listed in London but based in Dublin, said on Thursday that its board was in talks with US-listed WestRock to create Smurfit WestRock, which would have its global headquarters in Ireland...
...WestRock shareholders will receive one new share and $5 in cash for each of their existing shares, which the companies said in a joint statement valued WestRock at $43.51 per share....
...Smurfit Kappa, the Irish packaging group that is planning a merger with WestRock of the US to become the largest in the world, said the post-Covid drop in sales was reversing and it hoped for volume growth...
...Consider the tie-up between Ireland’s Smurfit Kappa and US-based WestRock, announced on Thursday. WestRock traces its origins to Smurfit-Stone, once part of the Smurfit group....
...WestRock, formed in 2015 through the merger of MeadWestvaco and RockTenn, did not immediately respond to a request for comment....
...WestRock shares gained 4 per cent in in New York....
...International Paper had been the biggest listed company in the sector by sales until Irish group Smurfit Kappa agreed a $20bn tie-up with US group WestRock in September last year.After enjoying a boom during...
...In the industry’s first big consolidation, Irish group Smurfit Kappa last September agreed a $20bn tie-up with US rival WestRock....
...Ireland’s Smurfit Kappa, which International Paper tried to buy in 2018, expects to generate savings of $400mn in the first year from its $25bn tie-up with US group WestRock — about 2 per cent of the target...
...Shares of Mondi slipped 3 per cent to £13.40, trimming its market value to £5.9bn.It would mark the latest merger in the sector after Irish group Smurfit Kappa agreed a $20bn tie-up with US group WestRock...
...high-profile blows as companies including building materials group CRH and packaging company Smurfit Kappa have opted to shift their primary listings to New York, the latter as part of a merger with US rival WestRock...
...Shares of WestRock, Oracle, UPS and RTX were on the move in early trading in New York: WestRock was up more than 5 per cent after Irish rival Smurfit Kappa announced on Tuesday it would acquire the US group...
...moves in Europe today include Smurfit Kappa, Davide Campari Milano and Pepco: Shares in Ireland-based packaging group Smurfit Kappa slipped 9 per cent as investors digested the company’s €20bn merger with WestRock...
...CRH and Smurfit Kappa are both moving their main listing to the NYSE from London, the latter after a merger with US rival WestRock....
...The combined company, to be named Smurfit WestRock, would have its global headquarters in Dublin and Americas operations based in Atlanta, Georgia....
...Earlier this month two of the world’s largest packaging companies, WestRock of the US and Ireland’s Smurfit Kappa, entered into a tie-up to create a global group worth almost $20bn....
...A handful of large post-summer deals has left some sensing a shift, including Cisco’s $28bn acquisition of US software maker Splunk and a $20bn tie-up between US packaging group WestRock and its Irish rival...
...News round-up Smurfit chief defends switching main listing to New York after WestRock deal (FT) Ari Emanuel’s martial arts group TKO eyes $1bn earnings as it lists in New York (FT) Ex-Credit Suisse banker...
...And earlier this month, two of the world’s largest packaging companies, WestRock and Smurfit Kappa, merged to create a global group. It’s worth almost $20bn....
...Telegraph bid (FT) Citigroup seeks deal for small-bank platform after loan requests top $1bn (FT) CBI in merger talks with Make UK (FT) BAT sells Russian business to local management (FT) Smurfit Kappa/WestRock...
...Europe’s paper-based packaging market remains far more fragmented than North America’s, where the top six companies, including International Paper and WestRock, control roughly 80 per cent of the market....
...At WestRock, retail and ecommerce account for just 14 per cent of the corrugated boxes business....
...Atlanta based WestRock said net sales in the year to September rose 10 per cent to $16.3bn....
...When WestRock’s acquired its packaging rival Kapstone, it paid 11.3 times operating earnings before usual deductions....
International Edition