Smurfit Kappa & WestRock Agree to Merge in a $20 Billion Deal
<p>Packaging giants Smurfit Kappa and <a href='https://financialmodelingprep.com/financial-summary/WRK'>WestRock (NYSE:WRK)</a> have reached an agreement to merge, forming the world's largest publicly traded paper and packaging company, with an estimated value of nearly $20 billion. Following this announcement, WestRock's stock surged more than 8% pre-market today.</p>
<p>In accordance with the merger terms, WestRock shareholders will receive one share in the newly formed entity, Smurfit WestRock, and $5 in cash for each of their existing shares, equating to a total of $43.51 per share.</p>
<p>On the other hand, Smurfit Kappa shareholders will be given one new Smurfit WestRock share for every share they currently hold. This will result in their ownership of approximately 50.4% of the combined company once the merger concludes in the second quarter of 2024.</p>

NYSE:WRK