Smurfit Kappa and WestRock in discussions regarding key terms of Potential Combination

Smurfit Kappa Group (“Smurfit Kappa”) (LSE:SKG; ISE:SKG), a FTSE 100 company, confirms that the boards of directors (the “Boards”) of Smurfit Kappa and WestRock Company (“WestRock”) (NYSE:WRK), a S&P 500 company, are discussing the key terms of a potential combination to create Smurfit WestRock, a global leader in sustainable packaging (the “Potential Combination”).

The Potential Combination would be expected to involve the creation of a new holding company, Smurfit WestRock (the “Combined Group”). Smurfit WestRock would be incorporated and domiciled in Ireland with global headquarters in Dublin, Ireland and North and South American operations headquartered in Atlanta, Georgia. The Potential Combination would be effected through an Irish scheme of arrangement involving Smurfit Kappa and a merger of a subsidiary with WestRock.

Any such combination would result in WestRock shareholders receiving consideration consisting primarily of shares of the Combined Group.
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