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Smurfit Kappa will likely in time attract a renewed offer from International Paper after the Irish firm resisted its takeover offer last year, broker Cantor Fitzgerald has predicted.
Analyst Darren McKinley said there was a “high probability” that International Paper will renew its offer sometime after June — the earliest date that, under stock market rules, the US firm can relaunch any offer for Smurfit.
The packaging company argued at the time that International Paper’s offer — which was worth as much as €39 a share — undervalued its global operations.
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