International Paper completed the acquisition of DS Smith for $9.9bn.

International Paper, a global provider of renewable fiber-based packaging and pulp products, and recycler, completed the acquisition of DS Smith, an international packaging company, offering sustainable, plastic-free packaging, integrated recycling services, and sustainable paper products, for $9.9bn. "The combination of International Paper and DS Smith will create the world's leading sustainable packaging company. With a differentiated geographic footprint and an unparallelled suite of sustainable packaging products and services, we will accelerate growth, improve profitability and serve our customers even better," Andrew K. Silvernail, IP Chairman and CEO. International Paper was recommended over an offer made by Mondi Group, a provider of sustainable packaging and paper.