{"id":4914,"date":"2025-01-22T03:35:42","date_gmt":"2025-01-22T08:35:42","guid":{"rendered":"https:\/\/www.packagingindustrynews.com\/?p=4914"},"modified":"2025-01-22T03:35:42","modified_gmt":"2025-01-22T08:35:42","slug":"international-paper-anticipates-eu-approval-for-7-1bn-ds-smith-acquisition","status":"publish","type":"post","link":"https:\/\/www.packagingindustrynews.com\/?p=4914","title":{"rendered":"International Paper anticipates EU approval for $7.1bn DS Smith acquisition"},"content":{"rendered":"


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IP has reportedly agreed to sell certain assets to resolve competition concerns. Credit: Jonathan Weiss via Shutterstock.<\/figcaption><\/figure>\n<\/p><\/div>\n

Sustainable packaging solutions provider International Paper (IP) is set to receive approval from the EU for its \u00a35.8bn ($7.12bn) acquisition of UK competitor DS Smith.<\/p>\n

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Citing sources familiar with the matter, Reuters<\/em><\/a> <\/em>reported that the move comes after IP agreed to sell certain assets to resolve competition concerns.<\/p>\n

The European Commission is expected to make a formal decision on the deal by Friday (24 January). <\/p>\n

In March last year, IP made an all-share offer<\/a> to acquire the entire issued share capital of the British packaging company DS Smith.<\/p>\n

Under the proposed terms, DS Smith shareholders were to receive 0.1285 shares in IP for each share they owned in DS Smith.<\/p>\n

The all-share transaction would result in DS Smith\u2019s shareholders owning approximately 33.8% of the combined entity.<\/p>\n

Later in June, DS Smith and IP announced that their proposed merger<\/a> had reached a significant milestone with the expiration of the waiting period under the US Hart-Scott-Rodino Act.<\/p>\n

In October, IP secured shareholder approval<\/a> for its proposed acquisition of DS Smith, marking a significant step towards finalising the deal.<\/p>\n

The deal, now awaiting approval from the European Commission, is expected to enhance IP\u2019s presence in the European paper and packaging sector, which is undergoing consolidation.<\/p>\n

DS Smith was established in the 1940s as a box-making business in East London. Since then, it has broadened its services to include solutions such as recycling and paper manufacturing.<\/p>\n

It currently operates in more than 30 countries, offering packaging, paper, and recycling services to businesses.<\/p>\n

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