Mar 27, 2024 - Business

International Paper makes rival takeover bid for DS Smith

Illustration of a cardboard box full of money.

Illustration: Aïda Amer/Axios

International Paper said it's offered to buy British paper and packaging firm DS Smith for around £5.72 billion in stock.

Why it matters: This may set up a bidding war for DS Smith, which three weeks ago agreed to be acquired by local rival Mondi for £5.14 billion in stock.

The bottom line: This would be Memphis-based International Paper's second major European acquisition play.

  • In 2018 it unsuccessfully tried to buy Ireland's Smurfit Kappa, which later when on cross-border offense by agreeing to buy Atlanta's WestRock for $11 billion.
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