DS Smith’s US Bidder Sees Takeover Value Fall Below Mondi Offer
- All-stock offer hit as International Paper’s shares dive
- Acquistion agreed April 16 but Mondi can still counter
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International Paper Co.’s all-stock offer to buy DS Smith Plc has taken a hit in value after the recent selloff in the US-based suitor’s shares, and is now worth less than an earlier proposal by rival bidder Mondi Plc.
The offer by International Paper valued DS Smith’s shares at about 361 pence as of 7:35 a.m. Thursday in London, according to Bloomberg’s calculations based on the latest stock price and exchange rate.