Mondi to Buy DS Smith for £5 Billion and Create Packaging Titan.

Mondi Plc has agreed to acquire DS Smith Plc for £5.1 billion ($6.5 billion), creating one of the world's largest packaging companies. The deal, which is an all-stock agreement, represents a 33% premium compared to DS Smith's stock price on February 7. The merger is expected to result in cost savings and increased scale as the packaging industry consolidates. Mondi shareholders will own 54% of the combined company, with DS Smith shareholders owning the rest. DS Smith is a major cardboard box manufacturer, while Mondi is a South African company that began as a mill built by Anglo American Plc. [Extracted from the article]