Ian Guider: Paper tiger still on the prowl for Smurfit

International Paper’s bid to buy the Irish packaging giant has reached stalemate. It’s time to end the phoney war

The phoney war between International Paper and and Smurfit Kappa has been ongoing for almost three months, since the US company first declared its interest in buying the Irish paper and packaging giant. Both sides have dug into their respective trenches, with no sign of engagement between them.

International Paper has stuck to the merits of its argument about the tie-up and shown a willingness to be flexible. It has already upped the ...