27 Mar 2024 --- DS Smith confirmed yesterday it is in discussions with US rival International Paper (IP) for a possible all-share takeover worth a potential £5.72 billion (US$7.22 billion). IP’s bid would trump the acquisition agreement made this month with Mondi, who offered £5.14 billion (US$6.57 billion) for a merger. While the Mondi merger was agreed upon in principle, no formal proceedings have begun, and DS Smith could choose to change course with a better offer on the table. If IP decides to make a formal offer, it will raise the likelihood of a bidding war with Mondi.
