Orion Portfolio Solutions LLC and
Advisory Services Network LLC have reduced their stake in
International Paper (IP), while
Intech Investment Management LLC and
Nomura Asset Management Co. Ltd have increased theirs. IP announced changes to its board alongside the selection of Silvernail as their new CEO. Reports indicate that the Brazilian paper manufacturer,
Suzano, is preparing a $15B bid for International Paper. At the same time, IP made a
takeover offer for DS Smith, which was discussed in all-share terms. This led to speculation of a possible bidding war and plans for a London listing if the deal concludes successfully. IP's Q1 2024 earnings missed on lower prices, and IP registered a slight decline in quarterly revenue year-over-year. Amid challenging market conditions, the company expressed encouragement by demand recovery and highlighted their hunger and disaster relief efforts in Mexico. IP's
stock performance was volatile, with both sharp moves upward and downward. Despite weak financial prospects, it was recognized as one of the most ethical companies and named in the 2024 list of Best Places to Work in IT.
International Paper IP News Analytics from Fri, 15 Sep 2023 07:00:00 GMT to Sun, 02 Jun 2024 14:06:54 GMT -
Rating 3
- Innovation 5
- Information 7
- Rumor -6
