Vox Markets Logo

DS Smith receives takeover approach from Mondi, shares surge

11:25, 8th February 2024
Vox News
Company News

(Sharecast News) - Packaging company DS Smith (SMDS) Follow | SMDS surged on Thursday after confirming it has received "a highly preliminary expression of interest" from rival Mondi.
"The board of DS Smith understands that Mondi is considering a possible offer for DS Smith although no proposal has been received at this stage," it said in a brief statement.

DS Smith said there can be no certainty as to whether any proposal will be made or the terms of any such proposal and that a further announcement will be made if and when appropriate.

At 1035 GMT, DS Smith shares were 11.7% higher at 314.10p.

Under takeover rules, Mondi now has until 1700 GMT on 7 March to either announce a firm intention to make an offer or walk away.


Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

Recent Articles