International Paper rises as it evaluates possible EMEA business sale
IP•International Paper said it is evaluating bids for its Europe, Middle East and Africa Packaging Business and is in discussions with potential bidders. Shares rose as much as 8.5% to $34.62 in afternoon trading.
1. Evaluating bids
International Paper said it is evaluating bids for its Europe, Middle East and Africa Packaging Business and is in discussions with potential bidders, following plans to split into two publicly traded companies.
2. Possible bidders
Lone Star and Atlas Holdings are reportedly exploring multibillion-dollar bids for the European packaging business, valuing it at less than $6 billion. International Paper announced in January that it would spin off its European packaging business, aiming to streamline operations and boost productivity across North America.
3. Share performance
Shares rose as much as 8.5% to $34.62 in afternoon trading and were set for their best day in nearly three months if gains held. The stock was down 19% year to date as of the prior close. International Paper completed a $7.2 billion buyout of DS Smith in 2024.
