Smurfit rebuffs International Paper bid again

Smurfit said the offer “fails entirely to reflect the group’s superior prospects as an independent business"

Tony Smurfit

Paper and packaging group Smurfit Kappa has again rejected a takeover attempt by rival International Paper, which revealed late last night that it was prepared to pay up to €8.6 billion for the Irish company.

Smurfit said today that its board had carefully considered the proposal from International Paper, but “has unanimously rejected it on the basis that it fails entirely to reflect the group’s superior prospects as an independent business and represents ...