10:06 AM EDT, 06/13/2024 (MT Newswires) -- (Updates with share price movement, additional details.)

WestRock's ( WRK ) shares were gaining nearly 1% in early Thursday trading after it said its shareholders approved a deal and other proposals related to the company's proposed combination with Smurfit Kappa Group.

Under the agreement signed in September, Smurfit WestRock will acquire Smurfit Kappa via a scheme of arrangement, and Sun Merger Sub, a Smurfit WestRock subsidiary, will merge with and into WestRock ( WRK ), making it a wholly owned subsidiary of Smurfit WestRock.

WestRock ( WRK ) shareholders will receive one new Smurfit WestRock share and $5 in cash for each WestRock ( WRK ) share held.

Price: 49.71, Change: +0.34, Percent Change: +0.69