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 transaction will create a global leader in packaging, according to International Paper. The deal is expected to strengthen International Paper's position in Europe and the US, and the combined company will seek a secondary listing in London. The paper and packaging sector has seen consolidation trends post-Covid, and the industry experienced a surge in demand during the pandemic due to increased online shopping. [Extracted from the article]