International Paper to drop bid for Smurfit Kappa

International Paper to drop bid for Smurfit Kappa

International Paper confirmed on Tuesday that it will not make an offer for Irish packaging company Smurfit Kappa, because of lack of engagement from Smurfit’s management. “IP believes the revised proposal was highly attractive and formed a sound basis for engagement, which the company viewed as essential to determining the full value potential of the combination,” the paper-packaging firm said in a statement. International Paper has decided to end its pursuit after courting Smurfit for…

Read More