Packaging Corporation of America Completes Acquisition of Boise Inc.

Oct. 25, 2013 - Packaging Corporation of America today announced the completion of its acquisition of Boise Inc. After the previously announced completion of the tender offer for all of the outstanding shares of Boise, PCA completed the second step merger under Delaware law, making Boise a wholly-owned subsidiary of PCA.

At the effective time of the merger, all shares of Boise common stock not purchased in the tender offer (excluding those shares for which holders properly exercise appraisal rights under Delaware law and those held by PCA or Boise or their respective wholly owned subsidiaries) were converted into the right to receive $12.55 in cash, without interest and less any required withholding taxes, which is the same price that was paid for shares of Boise common stock purchased in the tender offer. Boise common stock will no longer be listed on the New York Stock Exchange or any other securities exchange.

PCA is the fourth largest producer of containerboard and corrugated packaging products in the United States with sales of $2.8 billion in 2012. PCA operates four paper mills and 71 corrugated products plants in 26 states across the country. For additional information, visit www.packagingcorp.com

SOURCE: Packaging Corporation of America