International Paper Agrees to a $7.2 Billion All-Share Deal to Buy DS Smith

U.S.-based International Paper on Tuesday agreed to an all-share deal to buy DS Smith, valuing the British packaging firm at 5.8 billion pounds ($7.2 billion) and edging out a bid by Mondi.

DS Smith said it had recently received proposals from both International Paper and Mondi, but the U.S. company was now in a position to make a firm offer.

The two suitors earlier had an April 23 deadline to make a firm offer or walk away. Mondi declined to comment on the deal.

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