According to Irish law the US company will be barred from making another attempt to buy Smurfit Kappa for 12 months.
June 6, 2018
The US based International Paper (IP) confirmed that it will not make an offer for Irish Smurfit Kappa Group, given the lack of engagement by Smurfit Kappa’s Board of Directors and Management.
In February 2018 International Paper, a global producer of renewable fiber-based packaging, pulp and paper products, provided representatives of Smurfit Kappa’s board of directors with a proposal to acquire the company.
According to Irish stock exchange regulations, IP will be barred from making another attempt to acquire Smurfit Kappa for 12 months.