Smurfit and WestRock Combine to Create World’s Largest Packaging Group – Merger Arbitrage Mondays

Key Highlights

• The merger of WestRock Company (WRK) and Smurfit Kappa (SMFTF) in a cash plus stock deal.
• The acquisition of Hostess Brands, Inc. (TWNK) by The J. M. Smucker Company (SJM) in a $5.6 billion all cash deal.
• World Wrestling Entertainment (WWE) and Endeavor Group Holdings (EDR) complete merger to create TKO Group Holdings (TKO).

WestRock Company (WRK) $36.53

On September 12, 2023, WestRock Company (WRK) and Smurfit Kappa (SMFTF), Europe’s biggest paper and packaging producer, signed a definitive transaction agreement to create Smurfit WestRock, a deal that is expected to create the world’s biggest packaging group with $34 billion (€31.7 billion) of annual revenues.

WestRock is the second largest integrated paper product manufacturer in North America. It operates primarily in two key segments within the paper industry. The first segment focuses on corrugated packaging, commonly recognized as cardboard. The second segment specializes in consumer packaging, encompassing paper packaging for items such as fast food, toothpaste, and beverages.

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