International Paper Finalizes Acquisition of DS Smith

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International Paper (IP) finalized its acquisition of DS Smith on January 31, 2025, creating a leading global sustainable packaging company.

The merger strengthens International Paper’s market position in North America and Europe, expanding its customer reach and innovation capabilities. "The combination of International Paper and DS Smith will create the world's leading sustainable packaging company," said Andrew K. Silvernail, Chairman and CEO of IP.

The deal includes the issuance of approximately 179.8 million new shares of IP common stock, with trading set to begin on February 4, 2025, under the ticker "IP" on the NYSE and "IPC" on the LSE.

Expected synergies from the acquisition amount to at least $514 million, with positive earnings per share (EPS) impact anticipated in the first year.

Financial and legal advisors for the transaction included BofA Securities, Goldman Sachs, Citigroup, and J.P. Morgan, along with legal firms Skadden, Sidley Austin, Slaughter and May, and Sullivan & Cromwell.

International Paper, headquartered in Memphis, employs over 65,000 people and operates in more than 30 countries. In 2024, the company reported net sales of $18.6 billion.