International Paper Completed Acquisition of DS Smith
Paper Recycling | 2025-02-03 11:31:32
Further to the acquisition, IP will issue 0.1285 of new shares of common stock for each ordinary share of DS Smith.
By Paul Ploumis
SEATTLE (Scrap Monster): International Paper (IP), based in Memphis, Tennessee, declared that it had successfully acquired DS Smith plc, a significant player in the European packaging market. The two organizations have come together to form a world leader in environmentally friendly packaging solutions.
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Following the transaction, IP will issue 0.1285 new common stock shares for every DS Smith common share. On February 4, 2025, the new IP common equity shares will be up for sale on the New York equity Exchange under the ticker "IP." Additionally, shares of IP common stock, including newly issued IP common stock, will be secondary listed under the ticker "IPC" and start trading on the London Stock Exchange.
The acquisition has resulted in a unique global presence and an unparalleled range of sustainable packaging goods and services, according to Andrew K. Silvernail, Chairman and CEO of IP. Along with providing better services to its clients, this will boost profitability and speed up growth.
BofA Securities, Inc. was IP's exclusive financial advisor for the deal. For the acquisition, Skadden, Arps, Slate, Meagher & Flom LLP served as the legal advisor. Additionally, the U.S. antitrust legal adviser was Sidley Austin LLP.
