Paper packaging giants Smurfit and WestRock are in merger talks

Details: No financial terms were disclosed, but Smurfit said the combined company would be called Smurfit WestRock, headquartered in Dublin and listed on the NYSE.

• WSJ broke news of the talks, which forced Smurfit's hand and caused it to issue the public statement. A formal deal announcement could come soon.

The bottom line: Consolidation is a constant in the paper industry, as neither Smurfit nor WestRock are strangers to M&A. And there are some secular tailwinds, as more consumers demand alternatives to plastics.

• But there also is urgency. When the pandemic was raging, paperboard prices and usage skyrocketed. Now those trends have slowed or even reversed, putting new pressure on providers.