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WestRock and Smurfit Kappa to merge as Smurfit WestRock

WestRock, Smurfit Kappa in talks to create company with combined value of roughly $20 billion

Smurfit/Westrock Merger

In a significant development in the world of paper and packaging, WestRock is reportedly in advanced talks to merge with Europe's Smurfit Kappa Group, a move that could create a global powerhouse in the industry valued at approximately $20 billion, according to sources familiar with the matter.

Initially reported by The Wall Street Journal, the proposed merger envisions the establishment of a new entity, tentatively named "Smurfit WestRock," through a combination with one of WestRock's subsidiaries. Shareholders of WestRock would receive shares in the merged company; however, specific financial details have not yet been disclosed by the involved parties.

Smurfit Kappa Group issued a statement confirming ongoing discussions, stating, "Discussions between the parties remain ongoing regarding the potential combination. Smurfit Kappa and WestRock are engaged in a mutual due diligence process." Sources close to the matter suggest that an official announcement of the merger could be expected as early as next week, pending successful negotiations.

Furthermore, Smurfit Kappa Group revealed that the combined company would be incorporated and domiciled in Ireland, with its global headquarters based in Dublin. If the merger is completed, the ordinary shares of Smurfit WestRock would be listed on the New York Stock Exchange, leading to the cancellation of Smurfit Kappa's premium listing on the London Stock Exchange and its listing on Euronext Dublin. Instead, the combined company is anticipated to list on the standard segment of the London Stock Exchange.

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