BUZZ - International Paper stock rises, says it is evaluating a potential sale of its Europe, Middle East, and Africa (EMEA) business

Update

October 15 - ** International Paper (IP.N) shares rose as much as 8.5% in afternoon trading to $34.62 per share

** If the gains hold, the stock is set for its best single-day performance in nearly three months

** The company said it is evaluating takeover bids for its Europe, Middle East, and Africa packaging business and is in talks with potential bidders as it pursues its plan to split into two publicly listed companies

** The Financial Times reported earlier in the day that private equity firms Lone Star and Atlas Holdings are considering a multi-billion dollar offer for International Paper's (link) European packaging business, which is valued at under $6 billion

** The company announced in January this year that it would streamline operations and boost production efficiency in North America by spinning off its European packaging business and link splitting into two listed companies

** In 2024, IP completed its $7.2 billion acquisition of London-based rival DS Smith

** As of the previous trading day's close, the stock was down 19% year-to-date

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