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DS Smith takeover talks with Mondi continue after new terms agreed

Published 04/04/2024, 08:24
DS Smith takeover talks with Mondi continue after new terms agreed

Proactive Investors - DS Smith PLC (LON:SMDS), which last month agreed a £10 billion merger with fellow paper and packaging group Mondi (LON:MNDI), before later receiving a higher bid from US rival International Paper, said it has now reached a new agreement with Mondi.

An agreement in principle has been made on a possible all-share offer by Mondi, where the South African group would acquire the entire share capital of DS Smith.

Accordingly, the put-up-or-shut-up (PUSU) deadline has been extended to 5pm on 23 April to iron out more details (or wait for a bigger offer from the Americans).

"DS Smith is continuing discussions with Mondi regarding the combination," it said in a statement, noting that there was no certainty that any firm offer will be made.

Read more on Proactive Investors UK

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