International Paper hopes to firm up offer this week

According to Sky News reports, International Paper and its advisers are hoping to reach an agreement on a recommended offer for DS Smith by the end of this week.

That would represent a key milestone in an unfolding takeover battle for one of Britain’s biggest industrial companies, ahead of a deadline imposed by the City’s Takeover Panel of 23 April.

City sources said on Monday that both International Paper and DS Smith were working towards a Rule 2.7 announcement before this weekend, although they acknowledged that it could slip into next week, depending upon the progress of talks.

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