16 Apr 2024 --- International Paper (IP) has announced an agreement for an all-share takeover of DS Smith, following weeks of speculation. The US-based packaging giant will acquire the entire company for £5.8 billion (US$7.2 billion) and deliver at least US$514 million in pre-tax cash synergies. The terms of the combination value each DS Smith share at 415 pence per share and will result in IP issuing 0.1285 shares for each DS Smith share, resulting in pro forma ownership of 66.3% for IP shareholders and 33.7% for DS Smith shareholders.
