LONDON (dpa-AFX) - International Paper (IP) announced the completion of its acquisition of DS Smith plc on January 31, 2025.
As per the acquisition, IP will issue 0.1285 of new shares of common stock for each ordinary share of DS Smith, resulting in the issuance of approximately 179.85 million new shares of IP common stock. It is expected that on February 4, 2025, the new shares of IP common stock will begin trading on the New York Stock Exchange under the symbol 'IP,' and shares of IP common stock, including the shares of new IP common stock, will begin trading on the London Stock Exchange via a secondary listing under the symbol 'IPC.'
In April 2024, International Paper and DS Smith reached agreement on the terms of a recommended all-share combination. The terms of the combination valued each DS Smith share at 415 pence per share, and would result in IP issuing 0.1285 shares for each DS Smith share, resulting in pro forma ownership of 66.3 percent for IP shareholders and 33.7 percent for DS Smith shareholders, implying a transaction value of approximately $9.9 billion.
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