Deals
Mondi to Buy DS Smith for £5 Billion and Create Packaging Titan
- Agreement in principle values DS Smith at 373 pence a share
- Rival Smurfit Kappa previously agreed to buy WestRock
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Mondi Plc agreed to buy DS Smith Plc for £5.1 billion ($6.5 billion) in a deal that would create one of the world’s largest makers of packaging.
The all-stock deal has an implied value of 373 pence a share. That’s a 33% premium compared with DS Smith’s price on Feb. 7, the day before the company said it had received an initial approach from Mondi.