Smurfit Kappa rejects raised bid from International Paper

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Start a tender offer for the remaining stock at the same price and this leads naturally to be sold for forty two percent above where it closed in paris on friday so interesting waiting for us open and this is she would end largest aquisition for a decade the stock down by two percents of the aircon okay also on the horizon smurfit kappa this is ongoing every jackson other revised big from international paper yep still not get enough apparently for some africa for this is an eight point nine billion euro takeover bid from international paper the kabul box maker in the us smurfit saying it fails to reflect the intrinsic value of the company and this is a unanimous rejection from the board the original for nearly three weeks ago i was for thirty six years forty six shared this one was for thirty seven fifty four so some improvement there and it would have made international paper the biggest cobwebs producer in europe already makes one in three in the us and comes amid a wave of consolidation within the industry global economic growth picking up you got to rise no online shopping boosting demand for packaging materials you've seen more than forty cardboard packaging and paper product deal so far this year alone which includes this bid that's according to bloomberg data so looking at the open then we've got smart macapa down by three point four percents hotbeds of activity hasn't the paper and packaging sector so we continue see smurfit kappa kicking back against that rejecting that offer gkn also doing something similar and donner of course is is part of that gkn melrose story so donna is now boost to the cash portion of its bid for gkn's automotive unit by one hundred million pounds is trying to sway the shareholders away from the eleven billion euro a hostile bid from melrose so donald are going to double the size of its share buy back to two hundred million dollars after the deal closes and it's going to buy about one point seven seven billion dollars in in pay about one percent seven billion in cash seeming a billion dollars of pension liabilities dishing about one hundred thirty three million new donna shares g.

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