PCA to expand stake in US containerboard market, enter white papers through nearly $2 billion Boise acquisition

摘要

In another containerboard industry consolidation move, Packaging Corp of America (PCA) signed a definitive agreement to acquire Boise for $12.55/share in a $1,995 billion deal, including $714 million in debt assumed, the companies announced this week. The acquisition, which is expected to be completed in fourth quarter, would create a combined company with $5.5 billion in sales and $879 million in EBITDA (excluding special items) for the 12 months ended June 30, according to PCA. About 75% of sales for the combined company and 83% of EBITDA would be generated by packaging, with the remainder from Boise's uncoated freesheet, specialty paper, and newsprint businesses.