it will continue to be led by tony smurfit.estrock shareholders will receive one company share for the current shares and $5 in cash. let's look at westrock shares pre-market and where things stand this morning. we are looking at a nice bounce in westrock. quite a different story for smurfit. karen has stuck around from "squawk box." karen, what more can you tell us about the rationale for the deal? >> smurfit going from a medium box to a larger box with westrock. $34 billion for the company. it will be pursuing the listing on the new york stock exchange and one in london. it will tap the liquidity of the u.s. market. this is key, smurfit has been a big player in europe and in the united states. westrock in latin america and brazil and mexico and also large in the united states. putting these companies together gives smurfit access to the americas. it is up over the course of 2022. the most recent acquisition was a deal in latin america which saw it take on more debt. too aggressive in loading up on debt. sm smurfit lowered lev