KapStone/WestRock to be approved this week, no divestitures

30 October 2018 - 12:00 am UTC

The merger between WestRock [NYSE:WRK] and KapStone Paper and Packaging [NYSE:KS] will be approved by the Department of Justice (DoJ) this week without divestitures, this news service has learned.
WestRock, the US-based manufacturer of packing products, recycled paperboard, containerboard, bleached paperboard, and merchandising displays, announced its plans to acquire KapStone, the US-based manufacturer of paper and packaging products, for USD 3.4bn in cash in January 2018.
As reported, the parties have long believed that they face sufficient competition in the market to warrant the merger’s unconditional approval.
KapStone, WestRock, and the DoJ did not respond to requests for comment.
by Rebecca Shore in Washington, DC