MEMPHIS, Tenn., Aug. 5, 2016 /PRNewswire/ -- The U.S. Department
of Justice has concluded its Hart-Scott-Rodino review of
International Paper's (NYSE: IP) announced acquisition of
Weyerhaeuser's pulp business without taking any action. Regulatory
reviews in other non-U.S. jurisdictions are ongoing. Completion of
the transaction is expected to occur in the fourth quarter of
2016.
On May 2, 2016, International
Paper announced it had signed a definitive agreement with
Weyerhaeuser to acquire its pulp business. Under terms of the
agreement, IP will acquire five pulp mills and two converting
facilities that produce fluff pulp, softwood pulp, and specialty
pulp for a number of consumer applications including diapers, other
hygiene products, tissue, and
textiles.
ABOUT INTERNATIONAL PAPER
International Paper (NYSE: IP) is a leading global producer of
renewable fiber-based packaging, pulp and paper products with
manufacturing operations in North
America, Latin America,
Europe, North Africa, Asia and Russia. We produce packaging
products that enable world-wide commerce; pulp for diapers, tissue
and other personal hygiene products; papers that drive
communication; paper bags that carry groceries; and paper cups and
food containers. We are headquartered in Memphis, Tenn., and employ 53,000 colleagues
located in more than 24 countries. Net sales for 2015 were
$22 billion. For more
information about International Paper, our products and global
citizenship efforts, please visit internationalpaper.com.
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SOURCE International Paper