IP Gets DOJ OK to Buy Weyerhaeuser Unit
May 5, 2008 - The U.S. Department of Justice has concluded its Hart-Scott-Rodino review of International Paper's announced acquisition of Weyerhaeuser's containerboard packaging and recycling business. Regulatory reviews in several other countries are ongoing.
Completion of the $6 billion cash deal is expected to occur in the third quarter of 2008, IP said.
IP on March 17 signed a definitive agreement with Weyerhaeuser to acquire its containerboard packaging and recycling business.
Weyerhaeuser's containerboard packaging and recycling business includes nine linerboard mills, 72 box plants in the U.S. and four in Mexico, and more than 30 specialty packaging, kraft bag and recycling operations.
SOURCE: International Paper and Weyerhaeuser
See related story:
» IP to Buy Containerboard Business from Weyerhaeuser (3/17)