Graphic Packaging and Altivity Gain Conditional Go for Merger
March 6, 2008 - Graphic Packaging Corp. yesterday said that it has been granted conditional approval to merge with Altivity Packaging LLC by the U.S. Department of Justice.
The Justice Department valued the deal at $1.75 billion.
To move forward with the merger, the combined company must divest two paperboard mills, which, according to Graphic Packaging, are expected to be Altivity's coated-recycled paperboard mills in Wabash, Indiana and Philadelphia, Pennsylvania.
The merger was initially announced on July 10, 2007. Graphic Packaging's shareholders approved the proposed merger on January 17.
SOURCE: Graphic Packaging Corp.
See related story:
• Graphic Packaging to Merge With Altivity Packaging (7/10)