Under the terms of the proposed all-share deal, which News broke first, shareholders of DS Smith would own slightly more than one-third of the merged company.
It would anticipate closing in the latter part of this year, subject to that and regulatory approval.
The price paid for DS Smith is 47.7% more than what its shares closed at in February, prior to news of Mondi’s initial interest being public.
According to the news, about 400 positions throughout the combined firm could be at risk. S. Sutton, chairman and CEO of International Paper, said of the planned deal: “Combining with DS Smith is a logical next step in International Paper’s strategy to drive profitable growth by strengthening our global packaging business.
