International Paper Secured Overwhelming Shareholder Approval for DS Smith Acquisition

SEATTLE (Scrap Monster): International Paper declared that its proposed acquisition of DS Smith has garnered resounding support from its stockholders. Additionally, DS Smith had obtained the required shareholder approval for the acquisition earlier this week. It is anticipated that the deal will close in the fourth quarter of this year, pending regulatory approvals and other standard closing requirements.

The final vote results of the special shareholder meeting will be reported in a Form 8-K filing with the U.S. Securities and Exchange Commission (SEC).

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The combination has great support, as confirmed by the majority agreement of DS Smith and IP shareholders, according to International Paper's Chairman and CEO, Andy Silvernail. According to him, the union of the two businesses would become a genuine worldwide leader in sustainable packaging solutions, generating enormous value for its staff, clients, and investors.

International Paper made a significant move when it acquired DS Smith, a prominent provider of sustainable packaging solutions with headquarters in the UK. It is anticipated that the two businesses' combination will produce a strong new company and greatly increase their global market reach.

The deal's exact financials are still unknown, although it is estimated to be worth $10 billion.