RockTenn has agreed to acquire packaging producer Smurfit-Stone Container Corporation in a 50-50 cash and stock deal valued at $3.5 billion.
Smurfit-Stone shareholders will be entitled to the equivalent of $35 per share in the transaction, receiving 0.3 shares of RockTenn stock and $17.50 in cash. This represents a 27 percent premium to Smurfit-Stone’s closing price on Jan. 21. Upon completion, Smurfit-Stone shareholders will own 44 percent of the combined company.
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