International Paper (IP.US) said on Tuesday it had agreed to acquire all shares of British paper and packaging company DS Smith, valuing it at 5.8 billion pounds ($7.20 billion).

　　After the merger is completed, DS Smith shareholders will own approximately 33.7% of the combined company; International Paper shareholders will own the remaining shares, and the company plans to seek a secondary listing in London.

　　DS Smith said it would recommend shareholders support a deal with International Paper, adding that it had recently received merger proposals from International Paper and Mondi, but that International Paper could currently provide a firm offer.

　　It is reported that the two acquirers must submit a firm offer before the deadline of April 23, otherwise they will withdraw from the transaction.