DS Smith confirms completion of SCA deal

The recycled packaging firm, DS Smith, says it has cleared all the hurdles needed to complete its reverse takeover of Swedish giant SCA Packaging.

SCA is by some measures Europe's second largest packaging company and the deal is expected to cost FTSE 250 player DS Smith a cool €1.7bn.

To get the deal done the company had to negotiate with both the European Union Commission and French work councils but both have been brought on side.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

Since the original bid was announced in January of this year DS Smith's share price has dropped 31%. Nevertheless, the transaction will now complete on June 30th.

BS