Posted 9/12/2023, 10:18:00 AM
Smurfit Kappa and WestRock Agree to $20B Merger Creating Packaging Giant Smurfit WestRock
- Smurfit Kappa and WestRock agree to merge, creating $20 billion packaging giant
- WestRock shareholders to get 1 share in new company plus $5 cash per share, 36% premium to recent price
- New company called Smurfit WestRock, to be based in Ireland with $34 billion revenue
- Deal driven by post-pandemic slowdown in packaging demand
- Companies cite cost savings of over $400 million in first year after merger completes in 2024