London Calling: International Paper Eyes Secondary Listing As Part Of Proposed DS Smith Combination
London Calling: International Paper Eyes Secondary Listing As Part Of Proposed DS Smith Combination
International Paper Company (NYSE:IP) shares are trading higher after it provided an update on its possible offer for DS Smith plc (OTC:DITHF).
國際紙業公司（紐約證券交易所代碼：IP）在提供了可能向DS Smith plc（場外交易代碼：DITHF）報價的最新信息後，股價走高。
International Paper confirmed significant progress in reciprocal due diligence as facilitated by the DS Smith Board and Management.
國際紙業證實，在DS Smith董事會和管理層的推動下，互惠盡職調查取得了重大進展。
As part of the combination, International Paper intends to seek a secondary listing of its shares on the London Stock Exchange.
作爲合併的一部分，國際紙業打算尋求在倫敦證券交易所進行股票的二次上市。
Mark Sutton, Chairman and CEO said, "Bringing International Paper together with DS Smith is a logical next step in International Paper's strategy to create value by strengthening our packaging businesses in North America and Europe. By combining the strengths of both companies, we believe we can enhance our offering of sustainable packaging solutions for customers in attractive and growing markets."
董事長兼首席執行官馬克·薩頓表示：“將國際紙業與DS Smith合併在一起是國際紙業戰略中合乎邏輯的下一步，該戰略旨在通過加強我們在北美和歐洲的包裝業務來創造價值。通過整合兩家公司的優勢，我們相信我們可以增強我們爲有吸引力且不斷增長的市場中的客戶提供的可持續包裝解決方案。”
Synergies: International Paper expects the business combination to generate significant synergies and drive value creation for both companies' shareholders.
協同效應：國際紙業預計，業務合併將產生顯著的協同效應，推動兩家公司的股東創造價值。
The Directors expects the combined International Paper and DS Smith to deliver pre-tax cash synergies of at least $514 million (£407 million) on an annual run-rate basis by the end of the fourth year following completion of the combination.
董事們預計，合併後的國際紙業和DS Smith將在合併完成後的第四年年底之前，按年運行利率計算實現至少5.14億美元（4.07億英鎊）的稅前現金協同效應。
Of this, $474 million (£376 million) of cost synergies is expected to be derived from the operational synergies across the combined network of mills, box plants, and global supply chain and reduction of duplicative corporate and business overhead expenses.
其中，4.74億美元（3.76億英鎊）的成本協同效應預計將來自工廠、箱式工廠和全球供應鏈合併網絡的運營協同效應，以及減少重複的公司和業務管理費用。
International Paper anticipates the total costs to achieve the synergies to be about $370 million (£293 million).
國際紙業預計，實現協同效應的總成本約爲3.7億美元（2.93億英鎊）。
The company projects about 33% of these synergies to be achieved by the end of the first year following completion, with roughly 66% and 95% achieved by the end of the second and third years, all on a run-rate basis, respectively.
該公司預計，這些協同效應中約有33％將在竣工後的第一年年底之前實現，到第二年和第三年年底，大約有66％和95％將分別按運行率計算。
The business combination is expected to boost International Paper's margins through synergies and immediately accretive to EPS.
預計此次業務合併將通過協同效應提高國際紙業的利潤率，並立即增加每股收益。
As of December 31, 2023, cash and temporary investments stood at $1.11 billion.
截至2023年12月31日，現金和臨時投資爲11.1億美元。
Investors can gain exposure to the stock via IShares Global Timber & Forestry ETF (NASDAQ:WOOD) and Invesco MSCI Global Timber ETF (NYSE:CUT).
投資者可以通過iShares全球木材與林業ETF（納斯達克股票代碼：WOOD）和景順摩根士丹利資本國際全球木材ETF（紐約證券交易所代碼：CUT）獲得股票敞口。
Price Action: IP shares are up 0.91% at $39.42 on the last check Thursday.
價格走勢：在週四的最後一次支票中，知識產權股價上漲0.91％，至39.42美元。
譯文內容由第三人軟體翻譯。