Smurfit Kappa merged with WestRock under the Companies Act 2014 of Ireland to create a new and powerful company in the paper and packaging industry, Smurfit WestRock. The common stockholders of WestRock will receive one new Smurfit WestRock share and USD 5.00 in cash for each share of common stock of WestRock.
Jun 19, 2024
The merger between Dublin-based Smurfit Kappa and Atlanta-based WestRock, two major players of the paper and packaging industry, took effect officially with the creation of Smurfit WestRock. The newly-formed company made its debut on the New York and London stock exchanges today, following the approval of WestRock shareholders to the deal in June.
WestRock Company, a leading provider of sustainable fiber-based paper and packaging solutions, with more than 50,000 teammates in the Americas, Europe and Asia-Pacific, recently announced that based on the preliminary vote count, its stockholders held a special meeting to approve the transaction agreement and other proposals related to the combination of Smurfit Kappa Group plc and WestRock.
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As per a release issued by Westrock, pursuant to the terms of the transaction agreement entered into on September 12, 2023, Smurfit WestRock will acquire Smurfit Kappa by means of a scheme of arrangement under the Companies Act 2014 of Ireland (as amended). Sun Merger Sub, LLC, a wholly-owned subsidiary of Smurfit WestRock, will merge with and into WestRock with WestRock surviving the merger and becoming a wholly-owned subsidiary of Smurfit WestRock.
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If the merger contemplated by the transaction agreement is completed, the common stockholders of WestRock will receive one new Smurfit WestRock share and USD 5.00 in cash for each share of common stock of WestRock. Completion of the combination remains subject to certain conditions, as described in the transaction agreement.
