Potential Bidding War Brewing in Paper and Packaging Industry
A potential bidding war is brewing in the paper and packaging industry as International Paper gears up to launch a counterbid for DS Smith in response to an agreed offer from Mondi. If International Paper proceeds, it is expected to include a significant stock-based component, setting the stage for a multibillion-pound transatlantic bidding war. The exact value of International Paper’s potential offer remains unclear, but industry bankers suggest it could be pitched at north of 400p-a-share and potentially around 420p-a-share.
Charter Communications Considers Acquisition of Altice USA
Charter Communications Inc. is considering acquiring Altice USA Inc., causing Altice USA’s stock to surge by 63%. With over $25 billion in debt, Altice USA serves nearly 5 million customers across 21 states. Charter is evaluating the potential benefits of the acquisition, but it is uncertain whether a formal approach has been made. Both companies declined to comment on the matter. These developments coincide with billionaire Patrick Drahi’s indication that every segment of his Altice empire is available for sale.