International Paper (IP) has been at the forefront of numerous major market events. After agreeing to European concessions for the DS Smith deal, the company announced a review of strategic options for its Global Cellulose Fibers Business. It's closing a pulp and paper mill in Georgetown, S.C., cutting 674 jobs. Despite some potential concerns about its stock,
IP continues to show promise. Tom Hamic has been assigned to a new leadership role and the company is touted to have the best Industrial Packaging earnings for Q3.
The proposed merger with DS Smith has been approved by shareholders. However, the deal closure has been pushed to 2025 due to initial strong results from IP's internal turnaround plan. The company announced another round of layoffs and closures, while also filing a definitive proxy statement in connection with the DS Smith acquisition. Faced with uncertainty about its future,
IP made a strong commitment towards nature through a $15.3 million investment in conservation partnerships. The Q2 2024 results highlighted strong revenue growth and the company continues to push forward with DS Smith's acquisition. Scattered rumors of IP's potential acquisition by Brazilian paper company Suzano are circulating, although its pursuit of the $15B offer for IP has ended.
International Paper IP News Analytics from Tue, 16 Apr 2024 07:00:00 GMT to Thu, 16 Jan 2025 12:09:00 GMT -
Rating 5
- Innovation -5
- Information 8
- Rumor -3
