The largest cardboard box manufacturer in Europe and major purchaser of recovered fibre has rejected a takeover bid from US firm International Paper Company.
Smurfit Kappa strongly advised shareholders to "take no action" over the €8.6 billion (£7.7 billion) approach by the packaging, pulp and paper firm.
In a statement, Smurfit Kappa described the bid price as unsolicited and highly opportunistic.
It added: "The board of Smurfit Kappa has already carefully considered, with . . .
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