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
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
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
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
