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You are here: Home / Business / How Smurfit Kappa spent £15m seeing off takeover

How Smurfit Kappa spent £15m seeing off takeover

August 1, 2018 belfasttelegraph Leave a Comment

How Smurfit Kappa spent £15m seeing off takeover BelfastTelegraph.co.uk Smurfit Kappa forked out €17m (£15m) to defend itself from a €9bn (£8bn) takeover approach from US firm International Paper, the Irish packaging giant has revealed in its latest set of results. https://www.belfasttelegraph.co.uk/business/uk-world/how-smurfit-kappa-spent-15m-seeing-off-takeover-37176085.html https://www.belfasttelegraph.co.uk/business/news/article37176621.ece/d63e7/AUTOCROP/h342/bbbbb.jpg Email Smurfit Kappa forked out €17m (£15m) to defend itself from a €9bn (£8bn) takeover approach from US firm International Paper, the Irish packaging giant has revealed in its latest set of results. The half-year results, which saw Smurfit Kappa post a 27% rise to €724m (£644m) in earnings before interest, tax, depreciation and amortisation (EBITDA), have been seen by investors as vindicating the Smurfit Kappa board’s decision to reject the overtures from International Paper. Smurfit Kappa, which has an operation in Lurgan making corrugated packaging, saw its revenue in the six-month period rise 5% to €4.4bn (£3.9bn). The FTSE-100 listed firm rejected the approach from Memphis-based International Paper, telling its own shareholders that its prospects were better as an independent business. “The results show that an independent business is well able to deliver returns on its own merits,” chief financial officer Ken Bowles said. Mr Bowles added that Smurfit Kappa has already spent or earmarked about €800m (£711m) of €1.6bn (£1.4bn) it had vowed to spend to drive superior returns. Belfast Telegraph




  • Emiliano Sala: Who is Cardiff's £15m record signing?
  • Paper maker Smurfit Kappa completes deal that helped it fend off €8.9bn approach
  • Cardboard company Smurfit Kappa completes €460m deal as it attempts to defend itself from an €8.9bn takeover
  • International Paper abandons Smurfit Kappa takeover bid on 'lack of engagement' from management
  • US firm scraps plans for £7.8bn bid for packaging giant Smurfit Kappa
  • Boss of Smurfit Kappa defiant as takeover deal collapses
  • US paper giant drops interest in Smurfit Kappa
  • Demand for plastic alternatives boosts profits at Smurfit Kappa
  • Smurfit Kappa puts the cardboard barricade up as it braces for last-ditch bid from International Paper
  • Smurfit Kappa reaffirms guidance after International Paper drops bid

Business, UK & World Smurfit Kappa GmbH, smurfit kappa, smurfit kappa germany, smurfit kappa careers, smurfit kappa jobs, kappa smurfit, belfasttelegraph

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