13th Apr 2015 05:30
LONDON (Alliance News) - US paper manufacturing group International Paper Co is understood to be considering making a GBP6 billion takeover bid for Irish corrugated packaging company Smurfit Kappa Group PLC, Sky News reported on Saturday.
Sky said International Paper is working with Deutsche Bank on putting together a takeover offer for Smurfit, which was the subject of speculation last week about a possible bid either from International Paper or from Australian paper company Amcor.
Sources told Sky over the weekend, however, that no formal approach has yet been made for Smurfit and a bid may yet fail to materialise.
http://news.sky.com/story/1462971/us-predator-eyes-bid-for-6bn-smurfit-kappa
By Sam Unsted; [email protected]; @SamUAtAlliance
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