WestRock Reportedly Nears Deal To Merge With Smurfit Kappa; Stock Up In After-hours Trading

(RTTNews) - WestRock Co. (WRK) is nearing a deal to merge with Smurfit Kappa Group plc (SKG.L, SMFKY), a move that could create a multibillion-dollar global paper and packaging giant, the Wall Street Journal reported citing people familiar with the matter.

The deal could be announced next week, if the talks don't fall apart, the report said.

WRK closed Wednesday's regular trading at $31.88 down $0.17 or 0.53%. But in the after-hours trade, the stock gained $3.70 or 11.61%.

WestRock has a market cap of $8.17 billion, while Smurfit Kappa is valued at $10.68 billion.