FTSE 100-lister cardboard merchant DS Smith PLC (LSE:SMDS) said the planned takeover of the business by US rival International Paper “remains on track” in a brief trading update on Tuesday.
DS Smith is expected to provide shareholders with the scheme documentation for the planned £5.8 billion combination, which went through a brief will-they-won’t-they phase, “in the near term”.
Also in the trading update, DS Smith said: “The market and business trends described in the outlook statement contained in our financial results for the year 30 April 2024 have continued, with overall trading for the current financial year in line with DS Smith management expectations.”
The group expects higher full-year input costs offset by improving volumes and a second-half weighted recovery in paper prices.