Packaging Corporation of America Completes Acquisition of Boise Inc.
October 25 2013 - 10:50AM
Business Wire
Packaging Corporation of America (NYSE:PKG) today announced the
completion of its acquisition of Boise Inc. (NYSE:BZ). After the
previously announced completion of the tender offer for all of the
outstanding shares of Boise, PCA completed the second step merger
under Delaware law, making Boise a wholly-owned subsidiary of
PCA.
At the effective time of the merger, all shares of Boise common
stock not purchased in the tender offer (excluding those shares for
which holders properly exercise appraisal rights under Delaware law
and those held by PCA or Boise or their respective wholly owned
subsidiaries) were converted into the right to receive $12.55 in
cash, without interest and less any required withholding taxes,
which is the same price that was paid for shares of Boise common
stock purchased in the tender offer. Boise common stock will no
longer be listed on the New York Stock Exchange or any other
securities exchange.
About the new PCA
The combined company, headquartered in Lake Forest, IL, is the
fourth largest producer of containerboard and corrugated packaging
products in the United States. PCA will now operate eight mills and
97 corrugated product plants and related facilities. PCA is the
third largest producer of uncoated freesheet paper in North
America. Paper products include imaging papers for the office and
home, printing and converting papers, and papers used in packaging,
such as pressure sensitive papers.
This news release contains forward-looking statements that
are based on PCA's current expectations and beliefs and are subject
to a number of risks, uncertainties and assumptions that could
cause actual results to differ materially from those described. All
statements, other than statements of historical fact, are
statements that could be deemed forward-looking statements.
Forward-looking statements involve significant risks and
uncertainties, including whether the anticipated benefits of the
acquisition of Boise can be achieved and those more fully described
in the Securities and Exchange Commission (SEC) reports filed by
PCA, including PCA’s most recent annual report on Form 10-K and any
subsequent periodic reports on Form 10-Q and Form 8-K. Please refer
to PCA’s most recent Forms 10-K, 10-Q and 8-K for additional
information on the uncertainties and risk factors related to PCA’s
business. Unless otherwise noted, PCA is providing this information
as of Oct. 25, 2013, and expressly disclaims any duty to update
information contained in this news release.
Packaging Corporation of AmericaBarbara SessionsINVESTOR
RELATIONS: (877) 454-2509PCA’s Website: www.packagingcorp.com
Bairnco (NYSE:BZ)
Historical Stock Chart
From Apr 2024 to May 2024
Bairnco (NYSE:BZ)
Historical Stock Chart
From May 2023 to May 2024