Packaging Corp. of America Closes Boise Acquisition

Following the end of a tender offer, Packaging Corp. of America (NYSE: PKG  ) is now the owner of Boise (NYSE: BZ  ) . The company announced that with the expiration of the offer at midnight this past Thursday, Boise has become its wholly owned subsidiary.

Packaging Corp. had offered $12.55 per share in cash for each Boise share. All told, just over 67.4 million shares were tendered, or roughly 66.8% of the outstanding stock. All shares not purchased in the offer have officially been converted into the right to receive that $12.55 offering price.

Boise, currently listed on the New York Stock Exchange, will be delisted in the near future. 

Packaging Corp. initially announced its intention to acquire the company this past September. 


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2701111, ~/Articles/ArticleHandler.aspx, 10/21/2014 7:58:38 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement