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.
國際紙業公司（紐約證券交易所代碼：IP）已同意收購DS Smith Plc（場外交易代碼：DITHF）的所有股份，這意味着交易價值約爲99億美元。
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.
合併條款將每股DS Smith股票估值爲每股415便士，這將導致知識產權爲每股DS Smith股票發行0.1285股。
The arrangement will result in the ownership of 66.3% of IP shareholders and 33.7% of DS Smith shareholders.
該安排將使66.3％的知識產權股東和33.7％的DS Smith股東擁有所有權。
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).
該交易預計將於2024年第四季度完成。DS Smith最近還收到了Mondi Plc（場外交易代碼：MONDY）的提議。
"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.
知識產權董事長兼首席執行官馬克·薩頓表示：“與DS Smith合併是知識產權戰略中合乎邏輯的下一步，即通過加強我們的全球包裝業務來推動盈利增長。”
"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是包裝解決方案領域的領導者，業務範圍遍及歐洲，這補充了IP的能力，並將通過創新和可持續發展加速增長。”
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.
此次收購成立了一家差異化的瓦楞包裝公司，約90％的收入來自可持續的纖維基包裝。它將把DS Smith在23財年在歐洲的94億美元銷售額與IP在23財年的15億美元歐洲銷售額合併在一起。
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.
預計該交易將在完成後的第四年年底之前按年度運行利率實現至少5.14億美元的稅前現金協同效應。
Andrew K. Silvernail will be CEO of the combined company and Miles Roberts will be retained as a consultant to assist with integration matters.
安德魯·西爾弗奈爾將擔任合併後的公司的首席執行官，邁爾斯·羅伯茨將被聘爲顧問，協助處理整合事宜。
The combined company will be headquartered in Memphis, Tennessee, with plans to establish an EMEA headquarters at DS Smith's existing London headquarters.
合併後的公司總部將設在田納西州的孟菲斯，並計劃在DS Smith現有的倫敦總部設立歐洲、中東和非洲總部。
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.
合併完成後，向DS Smith股東發行的任何新知識產權股票都將獲准在紐約證券交易所進行初次上市，但須視發行的正式通知而定。知識產權還打算尋求在倫敦證券交易所進行股票的二次上市。
International Paper held $1.1 billion in cash and equivalents as of December 31, 2023.
截至2023年12月31日，國際紙業持有11億美元的現金及等價物。
Price Action: IP shares closed lower by 1.00% at $36.77 on Monday.
價格走勢：知識產權股價週一收盤下跌1.00％，至36.77美元。
Image sourced from Shutterstock
圖片來自 Shutterstock