International Paper Co (IP.N)
20 Mar 2018
LONDON European shares clawed back losses on Wednesday as deal-making speculation reinvigorated trading following a muted start to the session.
* Key Trump adviser resigns (Recasts, adds quote and detail, updates prices at close)
DUBLIN Smurfit Kappa's board reaffirmed its rejection of a takeover offer from International Paper Co after its U.S. rival revealed late on Tuesday that the bid was worth 8 billion euros ($10 billion).
DUBLIN, March 7 Smurfit Kappa's board reaffirmed its rejection of a takeover offer from International Paper Co after its U.S. rival revealed late on Tuesday that the bid was worth 8 billion euros ($10 billion).
LONDON, March 7 European shares opened lower on Wednesday after the resignation of Donald Trump's economic adviser Gary Cohn, seen as a bulwark against protectionist forces within the U.S. government.
DUBLIN/NEW YORK Smurfit Kappa Group Plc , Europe's largest paper packaging producer, said on Tuesday it had rejected a takeover offer from U.S. peer International Paper Co , which the suitor later revealed was worth 8 billion euros ($10 billion). | Video
* European paper packaging shares' performance http://tmsnrt.rs/2Ff9HIz (Adds International Paper's statement)
* CONFIRMS IT HAS SUBMITTED PROPOSAL TO ACQUIRE ENTIRE ISSUED AND TO BE ISSUED SHARE CAPITAL OF SMURFIT KAPPA
DUBLIN, March 6 Irish packaging group Smurfit Kappa has rejected an unsolicited approach from U.S.-based International Paper Co, saying the proposal "fails entirely" to reflect its strong growth prospects and attractive industry outlook.
* INTERNATIONAL PAPER CO FILES FOR A POTENTIAL MIXED SHELF OFFERING; SIZE UNDISCLOSED - SEC FILING Source text - (http://bit.ly/2EMrxlO) Further company coverage:
|Stora Enso OYJ (STERV.HE)||€15.53||+0.11|
|Stora Enso OYJ (STEAV.HE)||€15.50||+0.05|
|UPM-Kymmene Corporation (UPM.HE)||€29.63||+0.06|
|Smurfit Kappa Group Plc (SKG.I)||€33.94||-0.62|
|Fibria Celulose SA (FIBR3.SA)||R$ 64.00||--|
|Domtar Corp (USA) (UFS.N)||$44.92||--|
|Klabin SA (KLBN4.SA)||R$ 3.19||--|
|Klabin SA (KLBN3.SA)||R$ 6.18||--|
|Klabin SA (KLBN11.SA)||R$ 19.00||--|
|Packaging Corp Of America (PKG.N)||$116.51||--|