Smurfit Kappa was the worst performing blue-chip share in London yesterday, down 6.5pc, as investors begin to bet that International Paper won't submit a formal takeover bid for the packaging giant by the close of business tomorrow, the Irish Takeover Panel-imposed "put-up-or-shut-up" deadline for a new bid. Smurfit Kappa was the worst performing blue-chip share in London yesterday, down 6.5pc, as investors begin to bet that International Paper won't submit a formal takeover bid for the packaging giant by the close of business tomorrow, the Irish Takeover Panel-imposed "put-up-or-shut-up" deadline for a new bid. Investors' concerns over trade were overshadowed by very strong US jobs data on Friday, which helped Wall Street to rise for a second day yesterday. "The political and regulatory backdrop remains a significant hurdle to deliver an attractive deal," said Jefferies analysts. Air France KLM soared 5.5pc after AccorHotels said it was looking at taking a stake in the airline.

Source: Irish Independent June 05, 2018 01:30 UTC