Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

International Paper may end its bid for Smurfit Kappa

The company will need to make a decision by 7:00 AM local time on Wednesday
Paper
Shares of Smurfit Kappa sank in Dublin

International Paper Co (NYSE:IP) may drop its bid for Smurfit Kappa Group plc (LSE:SKG), according to Reuters’ sources.

The Memphis-based pulp and paper company has been pursuing the Irish packaging company for over three months.

International Paper has until 7:00 AM local time on Wednesday to make the final call, either offering the firm a deal or dropping the bid entirely.

If the company decides to abandon the bid, Irish law dictates that it cannot try to acquire the company again for another 12 months.

The U.S. company had made two takeover proposals in February and March but were rejected both times.

Shares of International Paper were down less than 1% in Tuesday after-hours trading while Smurfit Kappa shares in Dublin fell nearly 7%.

View full IP profile View Profile

International Paper Company Timeline

Related Articles

Laptop
June 06 2018
Financial services have been especially strong and driven by fears over cybersecurity ...
The river Thames
June 08 2018
No longer focused so much on drone technology, the high-tech survey and inspection specialist is so changed that it probably should change its name but management would rather spend the money growing the business
Intellectual property sign
April 11 2018
The AIM-listed intellectual property group’s investments were worth £8mln as at the end of December 2017, helped by the additions of The Vaccine Group and water pollution tester Molendotech

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use