WestRock shareholders approve merger with Smurfit Kappa [Yahoo! Finance]
SMURFIT KAPPA GROUP ADR (SMFKY)
NASDAQ:AMEX Investor Relations:
smurfitkappa.com/vhome/com/investors
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Source: Yahoo! Finance
The transaction agreement and related proposals were approved based on a preliminary vote count at WestRock's Special Meeting of Stockholders yesterday (13 June). The agreement, which was initially formed on 12 September 2023, outlines that Smurfit WestRock will acquire Smurfit Kappa under a scheme of arrangement in accordance with the Companies Act 2014 of the Republic of Ireland. Additionally, Sun Merger Sub, a subsidiary of Smurfit WestRock, will merge with WestRock, with the latter becoming a wholly owned subsidiary of the combined entity. Upon completion of the merger, WestRock common stockholders are set to receive one share of the new Smurfit WestRock and $5.00 in cash for each of their WestRock shares. Bloomberg has estimated the value of this transaction at $11.2bn. The merger's finalisation is contingent on certain conditions detailed in the Transaction Agreement. Once finalised, Smurfit Kappa shareholders will possess approximately 50.4% of Smurfit WestRock, wi
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