International Paper to acquire DS Smith for $9.9bn.

International Paper, a global provider of renewable fiber-based packaging and pulp products, and one of the world's largest recyclers, agreed to acquire DS Smith, an international packaging company, offering sustainable, plastic-free packaging, integrated recycling services, and sustainable paper products, for $9.9bn. "The combination with IP is an attractive opportunity to create a truly international sustainable packaging solutions leader that is well positioned in attractive and growing markets across Europe and North America. It combines two focused and complementary businesses. DS Smith has grown significantly through a dedication to customers, focus on innovation, quality of packaging and high levels of service. In a dynamic sustainable packaging landscape, the combination will enhance our global proposition to customers, create opportunities for colleagues and drive value for shareholders who can remain fully invested in such an exciting business. I am proud of all that DS Smith has achieved to date and am sure that the business will continue to flourish as part of a combined group with IP due to the capability and continued commitment of our colleagues," Miles Roberts, DS Smith CEO. International Paper was recommended over an offer made by Mondi Group, a provider of sustainable packaging and paper.