WestRock rises on merger talks with European rival Smurfit Kappa

WestRock Co

07/09/2023 12:23

** Shares of WestRock  WRK.N  jump 8.2% to $34.50 premarket 
    ** European rival Smurfit Kappa discloses it is in
discussions to merge with WRK, in a tie-up of two of the world's
largest paper and packaging producers
    ** The combined entity would be named Smurfit WestRock and
domiciled in Ireland with global headquarters in Dublin -
Smurfit
    ** Smurfit did not disclose financial terms of deal, after
which the combined company would be listed on the New York Stock
Exchange
    ** As of last close, WRK down ~9% YTD

 (Reporting by Pritam Biswas in Bengaluru)
 ((Pritam.Biswas@thomsonreuters.com))