Mondi plc ("Mondi") notes the terms of the recommended all-share combination of International Paper Company with DS Smith Plc ("DS Smith") announced on 16 April 2024.
Following a period of due diligence, and after carefully considering the value the combination with DS Smith would deliver to Mondi's shareholders, the Mondi Board has decided that the transaction would not be in the best interests of its shareholders. Accordingly, Mondi does not intend to make an offer for DS Smith.
Mondi's Board remains confident that its compelling portfolio of sustainable packaging and paper products, scale and cost advantaged quality asset base, along with its pipeline of organic investments, ensure it is well positioned to deliver long-term structural growth in the markets in which it operates, delivering strong cash generation, attractive returns and sustainable value accretive growth for shareholders.
https://www.investegate.co.uk/announcem ... n-/8147534
Also posted on Company News here; viewtopic.php?p=660308#p660308
SMDS are down over 12% as I type, with MNDI being up over 9%.
I know some here hold SMDS so this may be of interest here.
Ian (No holding in either company).
Moderator Message:
Minor edit to correct typo at OP's request (chas49)
Minor edit to correct typo at OP's request (chas49)