International Paper proposes all-equity acquisition of DS Smith at 48% premium

INTERNATIONAL PAPER CO /NEW/

All-equity proposal: 0.1285 IP shares per DS Smith share, valuing DS Smith at 415 pence per share (48% premium to undisturbed price of 281p).
DS Smith shareholders would own about 33.8% of the combined group.
IP confirms discussions; no firm offer yet; deadline under UK Takeover Code to announce or withdraw by April 23, 2024.
Strategic rationale: create global leader in sustainable packaging, strengthen European corrugated, and drive significant synergies.

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