Markets :: Specialty Chemicals :: Paints and Coatings
Georgia-Pacific to acquire chemical cellulose manufacturer in $1.5-billion deal
8:27 AM MDT | April 26, 2013 | Francinia Protti-Alvarez
Georgia-Pacific (Atlanta) plans to acquire Buckeye Technologies (Memphis, TN) in a $1.5-billion deal including debt, the companies have announced. The transaction will result in Georgia-Pacific paying out about $37.50/share in cash, or $1.4 billion, a premium of 29% based on the average closing price of Buckeye's common stock over the last week. The cash tender offer is not conditional on financing. The deal would move Georgia-Pacific, a paper company, into the specialty fibers market. "Buckeye Technologies' competitive assets and capabilities strongly...
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