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DS Smith receives takeover approach from Mondi, shares surge

11:25, 8th February 2024
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(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.

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