International Paper Says It Has Options of Smurfit Deal Doesn’t Work Out
Friday, April 27, 2018
Posted by: Alyce Ryan
If International Paper’s bid for Smurfit Kappa doesn’t work out, the world’s largest paper maker says it will find other ways to take advantage of surging cardboard box demand.
There is “tremendous opportunity” for the Memphis, Tennessee-based company to grow organically and lower costs via increased automation, chief executive officer Mark Sutton said on Thursday.
International Paper is trying to go to the “next level” by acquiring Smurfit Kappa. However, the box maker last month rejected a sweetened €8.9 billion ($10.8 billion) takeover proposal as inadequate.
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