International Paper Agrees to Buy DS Smith for $7.2 Billion.

International Paper Co. has agreed to acquire DS Smith Plc for £5.8 billion ($7.2 billion), surpassing rival suitor Mondi Plc in the battle for the UK packaging company. The all-stock deal will create a global leader in packaging, with International Paper paying 0.1285 new shares of its stock for each DS Smith share. Upon completion, International Paper shareholders will own approximately 66% of the combined company, which will seek a secondary listing in London. This acquisition is part of a post-Covid consolidation trend in the paper and packaging sector, which experienced a surge in demand during the pandemic due to increased online shopping. DS Smith is one of the world's largest cardboard box makers and produces packaging for various products. [Extracted from the article]