Implementation of merger with IP remains on track (Il Sole 24 Ore Radiocor) - London, 03 Sep - The UK packaging group DS Smith said its overall trading for the current financial year is in line with management expectations.

In a trading update covering the period since May 1, DS Smith noted that the market and business trends described in its financial results for the year ended April 30, 2024 have continued.

It added that the implementation of the combination with International Paper (IP) remains on track with the recent filing of the preliminary proxy statement by IP with the Securities and Exchange Commission (SEC). "Subject to the completion of the SEC's review process of the IP proxy statement, we expect to post our scheme documentation to shareholders in the near term," DS Smith said.

According to the terms of the all-share deal, upon completion DS Smith shareholders will own approximately 33.7% and International Paper shareholders 66.3% of the combined company.

AAA-Hob

(RADIOCOR) 03-09-24 10:34:03 (0210) 5 NNNN