April 26, 2018 / 2:47 PM / in 6 months

International paper disappointed Smurfit not engaging on bid

(Reuters) - U.S. paper packaging firm International Paper (IP.N) said on Thursday it was disappointed it has not been able to engage with Smurfit Kappa (SKG.I) since its Irish rival rejected a raised bid worth 8.9 billion euros last month.

Water vapour billows from smokestacks at the Smurfit Kappa Cellulose du Pin plant in Facture, southwestern France, January 29, 2016. REUTERS/Regis Duvignau

“We have a compelling proposal on the table and we’re disappointed we haven’t been able to engage with Smurfit Kappa,” International Paper’s chairman and CEO Mark Sutton told an analyst call.

“There is a process that we are in right now and we will continue to look at our options and I’m not at liberty to say what the next decision is.”

Reporting by Padraic Halpin in Dublin; Editing by Alexandra Hudson

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