Smurfit Kappa tops FTSE 100 losses on WestRock merger deal

WestRock Co

12/09/2023 08:26

** London-listed shares of Smurfit Kappa  SKG.L  down as
much as 12.6% to 2,680p, their lowest since July 11
    ** Stock is the top pct loser on FTSE 100  .FTSE  index 
    ** Smurfit and WestRock  WRK.N  to combine to create one of
the world's largest paper and packaging producers worth nearly
$20 bln
    **  WestRock stockholders will get one new Smurfit WestRock
share and $5 in cash for each share they hold, which works out
to $43.51/share
    ** Combined entity - named Smurfit WestRock and domiciled in
Ireland - will become largest listed global packaging partner by
revenue
    ** Stock currently down about 10%, pushing YTD losses to
more than 9%

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))