Hopes grew that the City could see its biggest merger in years, as packaging giant DS Smith confirmed that rival Mondi has made a “highly preliminary expression of interest” about a combination of the two FTSE 100 firms.
The news comes just a day after housebuilders Barratt and Redrow agreed to combine in a £2.5 billion deal. That merger announcement followed a 2023 that was characterised by a dearth of dealmaking. Of the deals that did happen, most of the most valuable involved private equity buyouts of listed firms, which raised questions about the strength of London’s markets.
