International Paper (IP) has been under significant transformation. The company's CEO is set to speak at the Citi 2024 Basic Materials Conference. IP announced a review of strategic choices for its
Global Cellulose Fibers Business and the closure of its Georgetown, S.C. mill, resulting in hundreds of layoffs. The PNC Financial Services Group holds a substantial stake in IP, and the DS Smith merger, initially planned for 2025, was rescheduled due to promising early results from IP's
turnaround plan. However, concerns arose around acquiring IP for its next dividend. Various advisories are altering their stake in IP, with some including Banque Cantonale Vaudoise and Oppenheimer & Co., reducing their holdings. Quarter 3 earnings exceeded expectations; however, overall sales fell in line with estimates. Furthermore, the proposed acquisition of DS Smith has gained overwhelming shareholder approval. IP’s mill closure could potentially impact Georgetown's water system. Also, rumors of a disruptive $15 billion offer from a Brazilian paper company surfaced but have since been put to rest. IP won a significant conservation award and has affirmed its commitment to nature through millions in investment. Despite the turbulent times, IP hit a 52-week high, largely credited to strategic changes and developments.
International Paper IP News Analytics from Wed, 27 Mar 2024 07:00:00 GMT to Sat, 23 Nov 2024 09:52:55 GMT -
Rating 0
- Innovation -2
- Information 8
- Rumor -7
