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Packaging Corp Acquires Boise Inc.

By Warren Paige

Packaging Corp of America (NYSE: PKG) has agreed to acquire its rival packaging and paper products company, Boise Inc. (NYSE: BZ) in deal estimated at $1.28 billion. According to the terms of the agreement, Packaging Corp will offer $12.55 a share, which represents a premium of 26% to Boise’s Friday closing stock price. Shares of both companies soared after the announcement. Packaging Corp, which is the fourth largest containerboard and corrugated packaging products maker in the U.S., said that the deal also assumes Boise’s debt, estimated at $714 million. Packaging Corp said that the acquisition will immediately boost its earnings and increasing its containerboard capacity by 42% to 3.7 million tons.

September 16th, 2013 | Tags: , | Category: Large Cap Growth Stocks

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.