Fri, Jun 7, 8:12 PM (246 days ago)
Smurfit WestRock Limited, formerly Cepheidway Limited, has filed its quarterly report for the period ending March 31, 2024. The company, incorporated in Ireland, has not conducted any operations except those related to its formation and the pending merger with Smurfit Kappa and WestRock Company. Key points: - The company reported no revenue or net income for Q1 2024 and Q1 2023. - Total comprehensive loss for Q1 2024 was $3, attributed to foreign currency translation losses. - Cash and cash equivalents stood at $108 as of March 31, 2024, down slightly from $111 at the end of 2023. - The merger, expected to close in early July 2024, will result in Smurfit WestRock becoming the parent company of Smurfit Kappa and WestRock, with dual listings on NYSE and LSE. - The transaction is subject to regulatory and shareholder approvals. - Two lawsuits have been filed challenging the merger disclosures. This report highlights the company's current financial inactivity and focuses on the upcoming merger's strategic implications.