IP – Further statement regarding possible offer for DS Smith plc

International Paper Company (“International Paper”) is pleased to provide an update on its possible offer for DS Smith plc (“DS Smith”), pursuant to which International Paper would acquire the entire issued and to be issued share capital of DS Smith (the “Combination”).

International Paper confirms that significant progress has been made in reciprocal due diligence as facilitated by the DS Smith Board and Management, and that it is now in a position to provide shareholders with more detail on the type and quantum of synergies it believes would arise from the Combination.

Corrugated packaging solutions is a core component of DS Smith’s business. Due diligence has confirmed International Paper’s belief that the Combination will significantly strengthen the combined packaging business and customer offerings – with packaging representing 84% of International Paper’s current sales, approximately $1.5 billion (£1.2 billion1) of which is driven from European sales.

Commenting on the Combination, Mark Sutton, Chairman and CEO of International Paper, said: “Bringing International Paper together with DS Smith is a logical next step in International Paper’s strategy to create value by strengthening our packaging businesses in North America and Europe. By combining the strengths of both companies, we believe we can enhance our offering of sustainable packaging solutions for customers in attractive and growing markets.”
more at: https://internationalpaper2022rd.q4web.com/news/news-details/2024/Further-statement-regarding-possible-offer-for-DS-Smith-plc/default.aspx