Smurfit Kappa Group PLC on Tuesday said that the Irish High Court had sanctioned the planned merger with WestRock Co.
The Dublin-based packaging maker expects the merger to complete on Friday.
It anticipates its shares to delist from the London Stock Exchange’s Main Market and the Euronext Dublin next week Monday, with Smurfit WestRock shares to start trading on the New York Stock Exchange that day.
Shares on the Euronext Dublin will stop trading at the close on Tuesday, while in London they will stop trading on Friday afternoon.
Smurfit in September agreed to merge with Atlanta, Georgia-based WestRock, in order to combine as Smurfit WestRock. At the time, it said the merger would create a global leader in sustainable packaging, headquartered at Smurfit’s current site in Dublin. The new company’s North and South American operations will be headquartered at WestRock’s base in Atlanta, Georgia.
Smurfit shares fell 2.4% to 3,458.00 pence each on Tuesday afternoon in London and were 1.0% lower at €40.79 each in Dublin. WestRock shares were 1.5% lower at $48.82 each in the pre-market on Tuesday morning in New York.
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