Buckeye Technologies Announces Termination of the Hart-Scott-Rodino Act Waiting Period
Aug. 22, 2013 - Buckeye Technologies Inc. (“Buckeye”) today announced that the U.S. Federal Trade Commission and the Antitrust Division of the U.S. Department of Justice granted termination of the waiting period required under the Hart-Scott-Rodino Antitrust Improvement Act of 1976, as amended (the “HSR Act”), for the previously announced proposed acquisition by merger (the “Merger”) of Buckeye by GP Cellulose Group LLC, an indirect wholly-owned subsidiary of Georgia-Pacific LLC. Accordingly, the condition to the consummation of the Merger with respect to the termination or expiration of the applicable waiting periods under the HSR Act has been satisfied.
In the Merger, GP Cellulose Group LLC would acquire all of the outstanding shares of common stock of Buckeye for $37.50 per share net to the seller in cash without interest and subject to any withholding of taxes required by applicable law.
The Merger is expected to close on August 23, 2013, subject to customary closing conditions.
Headquartered in Memphis, Tennessee, Buckeye Technologies currently operates manufacturing facilities in the United States and Germany. Its products are sold worldwide to makers of consumer and industrial goods. For additional information visit www.bkitech.com.
SOURCE: Buckeye Technologies Inc.