WestRock up on merger talks with European rival Smurfit Kappa

WestRock Co

07/09/2023 15:00

(Updates)
    ** Shares of WestRock  WRK.N  up 5.6% at $33.62 
    ** Co confirms discussions of merger with Irish rival
Smurfit Kappa, without disclosing financial terms of the deal
    ** The combined entity would be named Smurfit WestRock and
domiciled in Ireland with global headquarters in Dublin
    ** The combined company would be listed on the New York
Stock Exchange
    ** Paper packaging companies, which provide to online
retailers such as Amazon.com  AMZN.O , among others, have been
dealing with a moderation in demand following a spike during the
pandemic
    ** As of last close, WRK down ~9% YTD

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