International Paper (IP) would need to offer a knockup price for Smurfit Kappa of as much as €10bn and the share price could be in line for a further significant surge if the US giant is to bag its Irish-based international rival, according to analysts.

Shares in paper and packaging group Smurfit Kappa ended 1.3% lower as it reported a 4% rise in pre-tax profits in the latest quarter, writes Pádraig Hoare.

Paper and packaging giant Smurfit Kappa Group has extended its presence in Russia with the acquisition of a Moscow-based corrugated packaging company for an undisclosed sum.

Dublin-based paper and packaging group Smurfit Kappa has the ability to spend up to €1bn on acquisitions this year without harming its balance sheet or breaching its lending covenants, management has said.

Shares in Irish packaging company Smurfit Kappa fell by more than 3% yesterday despite a significant uptick in profitability in the opening six months of the year.

Packaging manufacturer Smurfit Kappa Group (SKG) will be included as a constituent of the FTSE250 and FTSE All Share indexes from the close of business on Friday, June 17, it was announced today.

Shares in paper and packaging group Smurfit Kappa jumped more than 3% in early trading yesterday on the back of it posting a 31% increase in quarterly profits and forecasting strong earnings growth for the full year.

Investors in the Irish stock market should favour Irish firms that have less exposure to the UK — until the outcome of the British referendum on membership of the EU is known, Merrion Capital has said in a major report.

Executive pay levels at Smurfit Kappa Group declined by nearly 39% last year, amid a shake-up of the group’s management.

Packaging group Smurfit Kappa has appointed Tony Smurfit as chief executive-designate to take over in August when Gary McGann retires after 13 years as CEO.

Smurfit Kappa has agreed to sell off a range of non-core assets in what is described by the buyer as its biggest equity investment to date.