International Paper is going to withdraw his offer on Smurfit

© Reuters. International Paper is going to withdraw his offer on Smurfit

(Reuters) – International Paper is going to withdraw his offer on Smurfit Kappa Group before the deadline of may 6, said two sources close to the matter Tuesday.

The premier paper group the world had until June 6 to submit a binding offer on the first european producer of paper-based packaging

This last was rejected at the end of march an improved offer by its american competitor on the basis that she continued to under-value and had no strategic sense.

Smurfit and International Paper have not responded to requests for comment.

(Ben Martin in London and Harry Brumpton in New York; Wilfrid Exbrayat for the French service) OLFRBUS Reuters France Online Report Business News 20180605T184214+0000