International Paper gives EU nod to its £5.8B bid to buy DS Smith By Investing.com
Investing.com — In an effort to get approval for its £5.8 billion deal for DS Smith Plc (LON: ), International Paper Co (NYSE: ) has given the European Commission permission to address potential competition concerns.
The European Commission has been scrutinizing the proposed merger due to concerns that it could reduce competition in the market.
Although the specifics of the agreements remain confidential, they often include measures such as divestment or restructuring of the work force to preserve market competition.
This is a critical step in a complex regulatory process. The European Commission now has until January 24, to decide whether the proposed remedies are enough to scrap the deal.
If approved, the acquisition will give International Paper a strong foothold in the European market, particularly in the fast-growing sustainable packaging sector.
The £5.8 billion deal for DS Smith, a major player in the sustainable packaging space, could improve International Paper’s ability to compete in Europe and globally.
DS Smith’s expertise in environmentally friendly packaging solutions, combined with its extensive network across Europe, makes it an attractive acquisition for International Paper, which has been looking to strengthen its position in the packaging industry.
