Smurfit Kappa share price slumps as investors digest mega-merger with WestRock

Shareholders of WestRock will receive the equivalent of $43.51 a share in cash and stock.

Tony Smurfit, chief executive officer of Smurfit Kappa Group, will head up the newly combined entity. Picture: Simon Dawson

Shares in Irish paper and packing giant Smurfit Kappa plunged by as much as 13 per cent in early trading after the company said it had agreed to merge with WestRock, the US paper company.

Smurfit Kappa this morning announced that it had reached a deal with WestRock that will see both companies combine to create a new company called Smurfit WestRock, which will have combined sales of around $34 billion and annual profits in ...