International Paper Acquires Packaging Firm DS Smith; Eyes Secondary Listing On London Stock Exchange
International Paper Acquires Packaging Firm DS Smith; Eyes Secondary Listing On London Stock Exchange
International Paper Company (NYSE:IP) has agreed to acquire all the shares of DS Smith Plc (OTC:DITHF), implying a transaction value of approximately $9.9 billion.
国际纸业公司（纽约证券交易所代码：IP）已同意收购DS Smith Plc（场外交易代码：DITHF）的所有股份，这意味着交易价值约为99亿美元。
The terms of the combination value each DS Smith share at 415 pence per share, and will result in IP issuing 0.1285 shares for each DS Smith share.
合并条款将每股DS Smith股票估值为每股415便士，这将导致知识产权为每股DS Smith股票发行0.1285股。
The arrangement will result in the ownership of 66.3% of IP shareholders and 33.7% of DS Smith shareholders.
该安排将使66.3％的知识产权股东和33.7％的DS Smith股东拥有所有权。
The transaction is expected to close by the fourth quarter of 2024. DS Smith has also recently received a proposal from Mondi Plc (OTC:MONDY).
该交易预计将于2024年第四季度完成。DS Smith最近还收到了Mondi Plc（场外交易代码：MONDY）的提议。
"Combining with DS Smith is a logical next step in IP's strategy to drive profitable growth by strengthening our global packaging business," said IP Chairman and CEO Mark S. Sutton.
知识产权董事长兼首席执行官马克·萨顿表示：“与DS Smith合并是知识产权战略中合乎逻辑的下一步，即通过加强我们的全球包装业务来推动盈利增长。”
"DS Smith is a leader in packaging solutions with an extensive reach across Europe, which complements IP's capabilities and will accelerate growth through innovation and sustainability."
“DS Smith是包装解决方案领域的领导者，业务范围遍及欧洲，这补充了IP的能力，并将通过创新和可持续发展加速增长。”
The acquisition establishes a differentiated corrugated packaging company with approximately 90% of revenue from sustainable fiber-based packaging. It will combine DS Smith's European sales of $9.4 billion in FY23 with IP's European sales of $1.5 billion in FY23.
此次收购成立了一家差异化的瓦楞包装公司，约90％的收入来自可持续的纤维基包装。它将把DS Smith在23财年在欧洲的94亿美元销售额与IP在23财年的15亿美元欧洲销售额合并在一起。
The transaction is expected to deliver at least $514 million of pre-tax cash synergies on an annual run-rate basis by the end of the fourth year after the completion.
预计该交易将在完成后的第四年年底之前按年度运行利率实现至少5.14亿美元的税前现金协同效应。
Andrew K. Silvernail will be CEO of the combined company and Miles Roberts will be retained as a consultant to assist with integration matters.
安德鲁·西尔弗奈尔将担任合并后的公司的首席执行官，迈尔斯·罗伯茨将被聘为顾问，协助处理整合事宜。
The combined company will be headquartered in Memphis, Tennessee, with plans to establish an EMEA headquarters at DS Smith's existing London headquarters.
合并后的公司总部将设在田纳西州的孟菲斯，并计划在DS Smith现有的伦敦总部设立欧洲、中东和非洲总部。
Upon completion of the combination, any new IP Shares issued to DS Smith shareholders will be authorized for primary listing on the NYSE, subject to official notice of issuance. IP also intends to seek a secondary listing of its shares on the London Stock Exchange.
合并完成后，向DS Smith股东发行的任何新知识产权股票都将获准在纽约证券交易所进行初次上市，但须视发行的正式通知而定。知识产权还打算寻求在伦敦证券交易所进行股票的二次上市。
International Paper held $1.1 billion in cash and equivalents as of December 31, 2023.
截至2023年12月31日，国际纸业持有11亿美元的现金及等价物。
Price Action: IP shares closed lower by 1.00% at $36.77 on Monday.
价格走势：知识产权股价周一收盘下跌1.00％，至36.77美元。
Image sourced from Shutterstock
图片来自 Shutterstock