08:30 AM EDT, 06/25/2024 (MT Newswires) -- International Paper ( IP ) and DS Smith said Tuesday that the waiting period under the Hart-Scott-Rodino Act for their proposed merger has expired.

The companies in April announced their intention to merge in an all-stock deal valuing DS Smith at an enterprise value of about 7.80 billion British pounds ($9.89 billion).

The completion of the merger is still pending regulatory approval from the European Commission and court sanctioning, the companies said Tuesday.

Both companies said they expect the merger to be finalized in Q4.

Shares of International Paper ( IP ) were down more than 1% in recent Tuesday premarket activity.

Price: 46.82, Change: -0.50, Percent Change: -1.06