A paper and packaging company may not seem worth a second look in an era when hot technology names such as Nvidia streak skyward and growth stocks trounce value. Smurfit WestRock is set to begin trading in New York on July 8 as a paper powerhouse worth more than $20 billion, the creation of Ireland’s Smurfit Kappa buying U.S. WestRock for $11.15 billion in a merger announced last September. Smurfit Kappa revealed Thursday that the deal has cleared all regulatory hurdles, with the company’s delisting from Dublin and London set for the first week of July, before shares in the new company are issued to both Smurfit and WestRock investors.
International Paper (IP) confirms that it cleared another hurdle for the acquisition of DS Smith, with the expiration of the waiting period under the Hart-Scott-Rodino Act.
The WestRock (WRK) and Smurfit Kappa merger, which will create a new company, Smurfit WestRock, has been approved by shareholders of both companies.