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London Stock Exchange to lose £9bn packaging giant in latest blow to City (Telegraph)


pellinore

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Brexit. The gift that keeps taking...

The London Stock Exchange (LSE) is poised to lose a £9bn packaging giant to New York in the latest blow to the Square Mile.

Smurfit Kappa, the Irish paper and packaging producer, is in discussions to merge with US rival WestRock, which will result in the company cancelling its premium London listing if a deal is agreed.

The combined group, which is expected to be named Smurfit WestRock, would have its global headquarters in Dublin and would list on the New York Stock Exchange.

A move to New York would come as a further blow to the LSE, which is battling to remain relevant amid a raft of take-private deals and a string of companies moving their listings to the US.

London Stock Exchange to lose £9bn packaging giant in latest blow to City (archive.ph)

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