According to Sky News reports, International Paper and its advisers are hoping to reach an agreement on a recommended offer for DS Smith by the end of this week.
That would represent a key milestone in an unfolding takeover battle for one of Britain’s biggest industrial companies, ahead of a deadline imposed by the City’s Takeover Panel of 23 April.
City sources said on Monday that both International Paper and DS Smith were working towards a Rule 2.7 announcement before this weekend, although they acknowledged that it could slip into next week, depending upon the progress of talks.
