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News & Press: Industry

Smurfit Rejects Fresh $11 Billion International Paper Bid

Monday, April 2, 2018   (0 Comments)
Posted by: Alyce Ryan
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Irish packaging company Smurfit Kappa Group Plc rejected a sweetened 8.9 billion euro ($11 billion) takeover bid from International Paper Co., testing the U.S. suitor’s resolve as the industry gains from a boom in online shopping deliveries.

Smurfit’s board unanimously spurned a revised offer of 37.54 euros per share, according to a statement Monday, adding that International Paper’s original offer was for 36.46 euros per share.

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