Following the withdrawal of Mondi from the contest to acquire DS Smith, the IP/SMDS gross spread to the deal turned negative (from +10%). Comparables trade at a median 7.1x vs. SMDS at 6.3x.
What is covered in the Full Insight:
Details of International Paper and DS Smith deal
Background of merger and former Mondi proposal
Summary of deal terms
Targeted synergies and merger rationale
European and US packaging comparables
SUMMARY
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