Paper tiger.

THE lack of resistance by the DS Smith board and investors to the £5.8bn takeover by the US's International Paper is to be regretted. Too often the UK allows home grown innovators, with an original business model, to escape overseas. To the credit of International Paper it has recognised the sensitivities by pledging a secondary quote in the UK and using DS Smith HQ as its European base. I suppose we should be thankful for small mercies. [ABSTRACT FROM PUBLISHER]