WestRock Co. (WRK) announced on Thursday that its shareholders have approved the merger with Dublin-based packaging company Smurfit Kappa Group plc.
According to the merger agreement, Smurfit Kappa will be acquired by the newly formed Smurfit WestRock. In a subsequent step, Smurfit WestRock's subsidiary, Sun Merger Sub, LLC, will merge with WestRock.
Upon the completion of this merger, shareholders will receive one share of Smurfit WestRock plus $5 in cash for each share of WestRock they hold.
Currently, WestRock's stock is trading at $49.91, reflecting a 1.13 percent increase on the New York Stock Exchange.
