International Paper boxes clever with £5bn-plus DS Smith counterbid

Sky News understands that International Paper has indicated to DS Smith that it wants to launch a formal counterbid to trump an agreed offer from DS Smith by Mondi, another London-listed paper group.

If it does proceed with a formal offer – which is expected to comprise a large stock-based component – it would set the stage for a multibillion-pound transatlantic bidding war for DS Smith.

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