Mergers & Acquisitions

On Tuesday, DS Smith and International Paper announced that the waiting period under the Hart-Scott-Rodino Act has expired.

The Italian paper and packaging company Fedrigoni said it has acquired a majority stake in the Chinese company BoingTech, one of the major RFID (radio frequency identification) inlay and tag manufacturers worldwide with operations in China and Malaysia.

The transaction is expected to close in the second half of calendar 2024 and is subject to approval by Glatfelter shareholders and completion of the remaining customary closing conditions.

Ennis, Inc. is pleased to announce its acquisition of Printing Technologies, Inc. (PTI) located in Indianapolis, IN. Founded in 1994, PTI is a leading manufacturer of innovative media solutions used in all types of Printing Technologies including direct thermal, thermal transfer, ink jet, dot matrix and laser.

Brazilian pulpmaker Suzano said it has terminated talks to buy International Paper, adding the U.S.-based firm did not engage with the highest price it was willing to pay.

Shares in the new entity, Smurfit WestRock, will begin trading on the New York Stock Exchange on Monday and will immediately join key US stock indices, including the S&P 500, the most widely-followed equities index in the world. The company will also retain a secondary listing in London.

International Paper Co.'s top boss traveled to London to reaffirm his company's commitment to merger partner DS Smith Plc, downplaying a takeover offer from Suzano SA that threatens to derail their pending $7.4 billion deal, according to people with knowledge of the matter.

Smurfit Kappa, one of the world's leading providers of sustainable packaging solutions, has announced it has signed an agreement to acquire Artemis Ltd., a Bag-in-Box packaging plant located in Shumen, Bulgaria.

SMC Packaging Group operates across multiple locations in Missouri, Arkansas, and Oklahoma.

Analysts from Jefferies are predicting a potential cash offer for IP in the range of $54-57 per share, a figure that aligns with previous investor expectations. However, IP's board may value the company significantly higher.

Under the terms of the agreement, Suzano will acquire a 15 percent stake in Lenzing from B&C and the two shareholders will form a long-term syndicate which will hold the majority stake (52.25 percent) in the company. Subject to the closing of the transaction, B&C will hold a 37.25 percent stake in Lenzing and keep the role as controlling member of the new syndicate, with Suzano holding the minority stake of 15 percent. The price per share will be EUR 39.70, with a total acquisition purchase price of EUR 230 million to be fully paid at closing.

WestRock Company, a leading provider of sustainable fiber-based paper and packaging solutions, announced that, based on the preliminary vote count, WestRock stockholders voted to approve the Transaction Agreement and other proposals related to the combination of Smurfit Kappa Group plc ("Smurfit Kappa") and WestRock (the "Combination") at WestRock's Special Meeting of Stockholders held earlier today (June 13).

Brazilian pulp and paper company Suzano has been in talks with its advisers about sweetening its $15 billion acquisition offer for International Paper, people familiar with the matter said on Monday.

Brazilian pulpmaker Suzano confirmed it is interested in assets owned by International Paper, but said that it has not reached any final decision about a deal.

Suzano SA, the world's largest producer of pulp, is in talks with banks including Mizuho Financial Group, Nomura Holdings Inc. and Mitsubishi UFJ Financial Group on the financing of a potential bid for US packaging giant International Paper Co., according to people familiar with the matter.

Progroup takes over site of Sappi Stockstadt GMBH in Germany. The current plan is for a state-of-the-art plant for sustainable production of containerboard to be operating by the end of the decade, creating roughly 200 jobs.

Clearwater Paper Corporation announced the successful completion of its strategic acquisition of the Augusta, Georgia bleached paperboard manufacturing facility from Graphic Packaging International, LLC. Terms of the acquisition were first announced on February 20, 2024.

Brazilian pulp and paper company Suzano has approached U.S.-based International Paper to express interest in an all-cash acquisition that would be worth almost $15 billion, according to people familiar with the matter.

The company insists it is also focused on completing its previously announced combination with DS Smith, which offers a unique and highly compelling opportunity to create significant shareholder value above its base plan.

"There is no formal document or celebration of any agreement, binding or otherwise, by Suzano, nor any decision or resolution of its management bodies regarding the potential operation reported by the media," the company said in a filing.

Saica Group has reached an agreement with the family owners of LIC Packaging to increase its participation, becoming the major shareholder of the company. LIC Packaging is located in the province of Brescia, in Lombardy, northern Italy. This plant has a revenue of 120 million euros in 2023 and provide direct employment to 351 people. The Bertoldo family will remain in the management of the business.

Following this transaction, Metsä Group no longer holds any assets in Russia, the company said in a statement. The terms of the deal, including the purchase price, remain confidential between the parties.

The Indian tissue market is expanding rapidly, driven by consumers' evolving perceptions of hygiene and personal care, Suneel Kulkarni of APRIL said.

Transaction Represents 86th Acquisition for Leading Distributor of Foodservice Packaging and Janitorial Sanitation Products

Spirtas Worldwide is a demolition, environmental remediation and asset purchase company based in St. Louis, Missouri.